Mermaid Beach mansion sells for $43m in 48 hours, a new Queensland house record

What's happening

A beachfront mansion on Hedges Avenue at Mermaid Beach has sold for $43 million, setting a new Queensland record for a house. Domain reports the deal for 79-83 Hedges Avenue was sealed late on a Saturday evening, within 48 hours of the property coming to market with an asking price of $47.5 million.

The result tops the previous state record of $40 million, paid in August for a waterfront home at Noosa Heads. It also comes in the same week as a $32 million penthouse sale at NALU in neighbouring Miami, which set a Queensland apartment record. Selling agent Michael Kollosche said six strong offers were received, and that exceptional properties continue to attract exceptional buyers. The buyer is described as a local Gold Coast businessman.

The key details

The home occupies one of the largest beachfront holdings on the Gold Coast's best-known prestige street.

• Address: 79-83 Hedges Avenue, Mermaid Beach.
• Price: $43 million, against an asking price of $47.5 million.
• Land: a triple beachfront allotment on a 1,212 sqm elevated, north-facing corner site with 30 metres of beach frontage.
• Home: about 2,241 sqm over four levels, built in 2011, with six bedrooms, seven bathrooms and parking for 12 cars.
• Features: an infinity pool facing the beach, rooftop pool and spa, cinema, wine cellar, two offices and a lift.
• History: the original lots were bought in 2006 and 2007 for $19.55 million by the Morris family, who demolished the old buildings and built the current home.

Timeline and next steps

The sale was agreed within two days of listing. Domain does not report a settlement date. Kollosche estimates it would cost between $65 million and $70 million to recreate a home like this today, including the land, which helps explain why buyers moved quickly. The agency also confirmed that Clive Palmer, who has bought two other Hedges Avenue properties, was not involved in this sale.

What it means for Gold Coast property owners and developers

Two state records in one week, both on the same stretch of coast, show how deep demand remains for genuine beachfront property on the Gold Coast. While broader price indexes for the city have eased this year, the top end continues to be driven by scarcity, quality and the rising cost of building anything new on the beach.

For owners of absolute beachfront homes and sites, the result is a strong new benchmark, and for developers it supports the case for larger, house-sized apartments in prime locations. Every property is different, and this is general commentary only, not financial advice.

Frequently asked questions

How much did 79-83 Hedges Avenue sell for?

It sold for $43 million, within 48 hours of being listed at $47.5 million, according to Domain.

What was the previous Queensland house record?

The previous record was $40 million, paid for a waterfront home at Noosa Heads in August 2026.

Who bought the home?

Domain reports the buyer is a local Gold Coast businessman, who has not been named.

Source: Domain: $43m mansion sells within 48 hours and smashes second Queensland record in a week, published 9 November 2026. This article is an independent summary and commentary by GC Prestige based on the original report — read the source for full details.