OE of the Gold Coast’s finest trophy residences has been sold at auction for a staggering $24.8 million, shattering the previous Queensland auction record.

The property known as Alston, situated at 5 McMillan Court in Southport, now holds the title of the highest residential property sale in Queensland for this year and has established a new residential auction record for the state. This remarkable achievement comes just two months after another property, 59 The Corso on the Isle of Capri, was sold at auction for $24 million.

The auction was skillfully conducted by Auctioneer Justin Nickerson of Apollo Auctions, and it took place at the Alston property with media access restricted.

Despite the exclusivity, there were three registered bidders, with the eventual buyer being the third, who registered only midway through the proceedings.

“Whether that was a strategy to sit back or whether it was an impulse that came over them, I’m not sure but either way, it worked for them in the end,” remarked Mr. Nickerson. The bidding began at $20 million and, after four bids, paused at $24 million to facilitate negotiations.

The buyers raised their bid, and ultimately, the auctioneer’s hammer fell.

“People are always interested in these sorts of homes and what they transact at,” Mr. Nickerson commented. “It’s aspirational real estate and people really work their whole lives or climb the property ladder to reach them.”

The marketing of the mansion was a collaborative effort by Kollosche principal Michael Kollosche and agents Sam Guo and Julia Kuo, in partnership with Rebecca Moffrey of Ray White Burleigh Group. The decision to switch to an auction campaign was driven by the seller’s strong desire to relocate to the beachfront, as per the agents.

Nestled behind ornate wrought-iron gates, this tri-level residence spans an impressive 2,451 square meters and is surrounded by park-like grounds on a substantial 3,442 square meter block.

Architect Michael Witty’s unmistakable European-style porte-cochere greets visitors as they approach from the main river. The residence boasts six bedrooms and seven bathrooms, including those within the opulent master suite that occupies an entire wing of the house, as well as two guest suites on the lower floor, each with its private entrance.

The property offers a multitude of outdoor spaces, verandas, terraces, private balconies, and even a 360-degree rooftop viewing platform. Additional features include an indoor swimming pool, gym, sauna, a two-level library, a striking spiral staircase, and a well-appointed office space.

We connect Gold Coast homeowners with high quality, licensed property appraisers. Enquire below to book your free appraisal.