A Queensland property record has been broken with a $43 million sale on the Gold Coast

79-83 Hedges Ave, Mermaid Beach sold for $43 million.

A mystery Gold Coast businessman has paid a staggering $43 million for his beachfront mansion, breaking the Queensland residential sales record.

Located in Mermaid Beach on the Gold Coast, the property sits on a triple block in an exclusive strip commonly referred to as Billionaires Row and has been on the market for less than 48 hours.

79-83 Hedges Ave, Mermaid Beach.

79-83 Hedges Ave, Mermaid Beach.

It eclipses the state’s previous house price record of $40 million in Noosa Heads in August and comes just days after a Queensland house price record was set in the neighboring suburb with the sale of a Nalu penthouse in Miami for $32 million.

Both deals were signed by Michael Kollosche, Kollosche’s director of sales.

“To set both a Queensland house price record and a Queensland apartment price record in the same week is an extraordinary achievement for our team and an important milestone for the Gold Coast property market,” Mr Kollosche said.

A four-level Hedges Ave mansion was put on the market on Friday with an asking price of $47.5 million, making it one of the most expensive homes ever put up for sale in Queensland.

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Michael Kollosche handled the $43 million sale of 79-83 Hedges Ave, Mermaid Beach.

79-83 Hedges Ave, Mermaid Beach.

It attracted interest from local and interstate buyers, as well as an expatriate, and attracted six strong bids before the $43 million deal closed on Saturday evening.

The buyer is an unidentified local businessman.

Property records show the seller is Jennifer Morris, who is associated with prolific developer Barry Morris of the Morris Real Estate Group.

The family bought house number 79 at auction in 2007 for $6.8 million, and the previous year bought the apartment block next door for $12.75 million.

In 2011, the family demolished both and built a four-story house on an area of 1,212 square meters.

79-83 Hedges Ave, Mermaid Beach.

There are spacious living and entertaining spaces, as well as a waterfront infinity pool and outdoor terraces, a rooftop terrace with a second pool, an elevator, a cinema, a wine cellar and a basement garage for 12 vehicles.

The mega sale follows a difficult year for the property market, with last week’s fifth rate hike, controversial tax changes and falling home values.

79-83 Hedges Ave, Mermaid Beach.

“What makes these results particularly important is the environment in which they were obtained,” said Mr. Kollosche.

“Buyers are smarter, confidence has been tested in the wider market and yet we are seeing extremely strong demand for properties that offer real scarcity, quality and long-term value.

“Both buyers are local, successful business people who understand the Gold Coast market and recognize the opportunity to secure assets that simply cannot be replicated.”