Gold Coast developer secures $10.2 million Surfers Paradise home sale

Property developer Michael Kelly has sold his Surfers Paradise home for $10.2 million, the fourth highest sale on the Gold Coast in 2016.

The home, which took Kelly two years to build, sold to a Chinese national with a temporary visa and foreign investment approval. 

Just off the Nerang River on a block totalling 2,295 sqm, the five bedroom mansion was designed by Jared Poole. It features a home theatre, gym and temperature controlled wine cellar.

Offering 98 metres of river frontage, the home has a 15 metre pontoon, secure boat storage and ramp.

The sale was the highlight of a very quiet Golden Week for Chinese acquisitions across Australia.

Golden Week is a semi-annual holiday in China, where some of the countries richest head to Australia for holidays and a spot of property shopping.

The property was listed for Golden Week last year for $12.5 million but those expectations were slashed to $11 million by the time of its sale.

Savills QLD agents Lisa Haplin and Christopher Jones secured the sale.

This article was first published in the Weekend Australian Mansion Australia property section.