Weekend Gold Coast Bulletin - Property
Stunner Armorel attracts $7.7m
Mermaid Waters cash deal achieves suburb’s highest residential sale
Ashowstopper home built on a waterfront parcel formerly owned by influencer Rachel Dillon has sold ahead of auction for a huge sum, snatching the suburb record from another luxury new build purchased by the fitness star last year.
An international buyer splashed $7.7m in a blistering cash deal for the glamorous Mermaid Waters home, named Armorel.
It was the highest residential sale in the canalfront Gold Coast suburb, trumping a nearby mansion known as The White House, which sold to bikini model Dillon and her entrepreneur partner Tobi Pearce for $7.3m under the hammer in November.
Both sales were handled by Kollosche agent Taylor Kleinberg, with Brad Coyne (Armorel) and Jamie Harrison (the White House). Mr Kleinberg noted surging demand for luxury high-spec homes in the pocket.
“The market is moving very well, and Mermaid Waters has been ripe for new homes to hit the market,” he said.
PropTrack data shows house prices in Mermaid Waters were up 5.9 per cent over the past 12 months, to a median of $1.7m.
Mr Kleinberg said the buyers were a family who moved to Australia from overseas three years ago and had been renting while in search of their new forever home on the Coast.
Armorel vendors Alissa Birch and Philip Pezzi, of Capital Luxury Residences, acquired the 909sq m parcel on the shores of Lake Wonderland from Dillon for $1.985m in January 2022. They built a six-bedroom, five-bathroom home inspired by the resorts of South Florida in the US.
The build earned the top gong of Australia’s best waterfront development at last year’s Asia Property Awards, and was among the nation’s most-viewed properties when it hit the market earlier this month.
Standout features include a monochromatic steel spiral staircase, soaring voids with a 4m-wide skylight, media room, a sunken fire pit with built-in seating, poolside lounge, basketball court and a 12m pontoon.
The Oceanic Drive site with a whopping 22.1m of lake frontage had been Dillon’s “family home”, but the original double-storey brown brick house was demolished to make way for Armorel’s statement in contemporary design.