Grande Vista at Broadbeach Waters under contract at a record price

Grande Vista, a luxury Gold Coast Broadbeach Waters estate, on the Sovereign Islands has gone under contract, at a record price.

A local buyer has set an island record surpassing the sale of Baltimore, a mega mansion that changed hands for $11 million in 2006.

It was marketed as one of Australia's premier waterfront mansions by Prestige Property agent Amir Main, who had initial $14.88 million price guidance.

Gold Coast businessman Brian Peat bought the home from the Gold Coast developer John Fish for $7 million in 2010.

The massive seven bedroom, 12 bathroom home spans over 1890 square metres, taking up much of its 2,103 square metre parcel on Sir Lancelot Way.

Entry to the home is through a palatial foyer with elegant marble and wrought iron curved staircase and spectacular views through to the blue vista.

The basement level is accessed by a lift and features a steam room, gym and eight car garage. A cinema room with tiered seating and wet bar sits on the ground floor.

There's a private outdoor teppanyaki kitchen with bbq and a 25 metre lap pool that faces the water.

This article first appeared in The Weekend Australian.