Queensland Megamansion Set To Fetch Upwards Of $35 Million
Kanebridge News
Share Button

Queensland Megamansion Set To Fetch Upwards Of $35 Million

The sale would set a Queensland record.

By V.L. HENDRICKSON
Mon, Aug 8, 2022 11:32amGrey Clock 2 min

A French manor-inspired megamansion on the Gold Coast hit the market Tuesday, with a guide price of around $35 million. That’s a more than $11 million price jump compared to its last selling price of $23.75 million in March 2021.

Now, the 3437sqm residence—located in Southport, Queensland, about 74km south of Brisbane—could set a record for the Australian state, according to listing agent Rebecca Moffrey from Ray White Burleigh Group. Currently, the record for the priciest sale belongs to a Sunshine Coast home that sold for $32 million last year.

Known as Alston, the six-bedroom, seven-bathroom residence offers views of the Nerang River, the skyline and the Broadwater. It’s also near two popular stretches of sand: Main Beach and Surfers Paradise, according to the listing.

Inside, guests and visitors are greeted by a two-level entrance hall with an imperial staircase and a crystal chandelier.

“The absolute majesty of the home just hits you. You walk in and you’re greeted by this incredible chandelier, and that’s even before you step onto the gorgeous, sun bathed terrace looking back towards the Broadwater,” Ms. Moffrey said in a statement. “The architecture just sweeps you away to the French countryside—you almost forget you’re on the Gold Coast with its stunning beaches just minutes away.”

There’s also a gourmet kitchen with marble bar, a wine room and a walk-in refrigerator, the listing said. Other amenities include a professional-grade wet bar, a study, a two-level library with a spiral staircase, a primary bedroom suite with two terraces and an indoor pool, plus a gym and sauna, the listing said. An elevator services all three levels, and there’s a five-car garage.

Outside, there are several covered terraces for dining and lounging, water features and native plantings. There’s direct access to the water via a sandy beach, and a boat dock and pontoon are included.

The sellers were not available for comment.



MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

Related Stories
Property
Thousands of Australian companies on the brink of going into administration as EOFY nears
By Bronwyn Allen 21/06/2024
Property
Belle Epoque Estate Lists in France’s Fragrant Perfume Capital
By CHAVA GOURARIE 21/06/2024
Property
The significant retirement cost awaiting more Australian homeowners
By Bronwyn Allen 20/06/2024
Thousands of Australian companies on the brink of going into administration as EOFY nears

Along with high inflation and weak consumer spending, there’s another key factor pushing a record number of businesses to the edge

By Bronwyn Allen
Fri, Jun 21, 2024 3 min

More than 10,000 companies are expected to have entered external administration by the end of the 2024 financial year, a level not seen for more than a decade. Data just released by the Australian Securities & Investments Commission (ASIC) shows 1,245 companies became insolvent in May, the highest monthly number this financial year. At present, a total of 9,988 businesses have gone bust in FY24 with data from June yet to be finalised.

Deloitte Access Economics Partner David Rumbens said the surge in business insolvencies this year was a “clear sign of economic distress”.

He commented: “[ASIC] predicts that by the end of the financial year, the number of companies entering external administration will likely exceed 10,000 – a level not seen since 2012-13, in the aftermath of the Global Financial Crisis (GFC).”

Mr Rumbens said the elements contributing to this year’s surge in insolvencies include high inflation and interest rates, weak consumer spending, and the commencement of more proactive tax debt collection activities by the Australian Taxation Office (ATO).

“One of the key factors contributing to this surge in insolvencies is the [ATO] pursuing debts that were previously put on hold during the COVID-19 pandemic,” he said.

Mr Rumbens cited ATO figures showing collectable debt rose 89 percent in the four years to June 2023. This has particularly impacted small businesses, which account for approximately 65 percent of the total debt owed at about $33 billion. “But more strictly enforced debt collection is coming at a time of tough economic conditions. High interest rates and cost-of-living pressures have weakened consumer spending, particularly in more discretionary components of spending.”

The construction sector has seen the highest number of insolvencies by far in FY24, mirroring the trend of FY23. Of the 9,988 insolvencies to date, 2,711 of them are in the building sector, which faces several challenges. These include a substantial lift in the cost of construction materials that is well above inflation and has made many fixed-price contracts signed within the past few years unprofitable. There is also a significant labour shortage that is delaying new home completions and new project starts, and also adding higher costs to projects.

“The construction sector has been hit particularly hard, with construction firms leading industry insolvencies in every quarter since mid-2021,” Mr Rumbens said. “They have accounted for approximately 25 percent of all insolvencies during this period. The residential construction sector is already facing a backlog of projects to complete as a result of skills and material shortages in recent years, and increased insolvencies in the sector may only exacerbate the problem of housing shortages.”

The ASIC data shows the next biggest industry affected is ‘other services’, which includes a broad range of personal care services such as hair, beauty, dietary, and death care services. The sector has seen 939 insolvencies in FY24. Retail trade is next with 687 insolvencies, followed by professional, scientific and technical services with 585 insolvencies.

“The food & accommodation sector has also experienced a wave of insolvencies. High input costs, worker shortages, and weak consumer sentiment have put pressure on businesses. Specifically, in March, cafés, restaurants, and takeaway businesses accounted for 5.5 percent of total business insolvencies, the highest proportion in the last three years.”

Mr Rumbens pointed out that while the number of insolvencies was high, it represents a lower share of the business sector at 0.33 percent than it did in FY13 when it was 0.53 percent. “This reflects the increase of registered companies in Australia, which has risen from just over two million to 3.3 million since 2012-13. Even so, the continued lift in insolvencies since 2021 highlights the difficult conditions many businesses face at present.”

 

 

MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

Related Stories
Lifestyle
A ‘cheeky’ seat takes out the top prize at Australia’s Next Top Designers Awards
By KANEBRIDGE NEWS 17/06/2024
Property
China’s Housing Market Woes Deepen Despite Stimulus
By REBECCA FENG 18/06/2024
Lifestyle
Celebrations Big and Small Are Getting Longer and More Extravagant for the Rich
By SHIVANI VORA 21/06/2024
0
    Your Cart
    Your cart is emptyReturn to Shop