Bumper weekend for city’s property market with several high-end sales, including two multi-million dollar sales at Benowa Waters

THE Gold Coast’s prestige property market had a bumper weekend as several high-end auction sales lined homeowners’ pockets. 

A luxurious Benowa ­Waters mansion was snapped up on Saturday for $1.55 million before the auction.

A prominent Chinese investor brokered a last-minute deal for the property at 124 Edinburgh Rd to avoid competing against other buyers.

The home’s owner, Norman Flodine, an engineer, purchased the land for $260,000 in 1990 and built the place from scratch.

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Ray White Broadbeach agent Sam Guo said the Chinese buyer, who lived locally, was expanding his Gold Coast property portfolio.

“The buyer actually came to us after they saw the place,” he said.

“They gave us an offer before Saturday’s auction and the sellers accepted it. They are very happy with the price.”

Mr Guo also sold five-bedroom waterfront home 1 Saywell St under the hammer for $1.19 million on Saturday.

He said the heated auction drummed up the property’s price.

“There were lots of people at the auction but a local man who is quite well known got it in the end,” Mr Guo said.

“He lives in the area and was looking for a place with the right aspects and a good view.

“The market has been going very well lately.

“We have been very proactive and have established some strong international interest.”

One of the most anticipated auctions of the year was postponed for “personal reasons”. Multi-million dollar mega-mansion 47 to 49 Knightsbridge Parade West, Sovereign Islands was supposed to go under the hammer at 4pm on Saturday.

Ray What Agent White agent Ali Mian, who is selling the property, said the auction would be moved to the following weekend.

“They had to postpone the auction for personal reasons,” he said.

“The auction will probably be moved to next weekend but we are still figuring it out.”

The six-bedroom Sovereign Islands gem last sold for $5.2 million to Chinese business man Yinan Zhang.