Mermaid Beach house sells for $43m, a Queensland record

It is the sale of the house we covered on 6 November, when it was listed at $47.5m. The outlet says it was listed on Friday and sold under 48 hours later, after six strong offers.

The previous highest Hedges Avenue sale was $28m, paid in 2024 for Nos. 41-45, the report says.

The numbers

The $43m sale price is the outlet’s figure. The report does not give a calendar date for the sale beyond “Saturday evening”.

The house stands on a triple block of 1,212 sqm and has four levels. It was built in 2011 after the vendor family demolished two existing properties on the site. The report lists a beachfront infinity-edge pool, alfresco terraces, a rooftop retreat with a second pool, a lift, a cinema, a wine cellar and basement garaging for 12 vehicles.

The buyer is described as a local businessman whose identity has not been disclosed. The report also mentions interest from local and interstate buyers and one expatriate.

The selling agent is Michael Kollosche, selling principal of Kollosche. The report quotes him saying the buyers “aren’t making decisions based on where interest rates might be next month”.

What’s next

The report quotes the agent on the market backdrop. In his words, buyers are more discerning and confidence across the broader market has been tested. He also spoke of establishing both the Queensland house record and the Queensland apartment record in the same week.

On the site’s history, the report says the vendor family bought No. 79 at auction for $6.8m in 2007 and the neighbouring apartment block for $12.75m in 2006, before demolishing both to build the current home.

The article refers to a $32m Nalu penthouse at Miami as the Queensland apartment record, set days earlier. The outlet does not say when the Mermaid Beach sale settles.