Weekend Gold Coast Bulletin - Property
Property proprietor clinches $9m sale
$3m slashed from asking price of Sovereign Islands mansion
Victorian property industry stalwart Barry Plant and his wife Karen have clinched the sale of their Gold Coast megamansion for $9m, slashing $3m from the initial asking price after more than a year on the market.
The couple, who founded one of the country’s largest real estate networks with 70 offices in Victoria and South Australia, built the striking American-style home on the Sovereign Islands after acquiring the land for $1.5m in 2014.
It first hit the market in November 2022 with price hopes of about $12m, with a buyer finally secured after the property was relisted with another agent and expectations were reduced.
The deal, handled by Ray White Sovereign Islands agent Ali Mian, was the week’s highest residential sale across southeast Queensland as reported to realestate.com.au.
Named The Lighthouse for the glass pyramid on its rooftop overlooking the Broadwater, the house at 18 Knightsbridge Pde East was crowned Master Builder’s Gold Coast Home of the Year when it was completed in 2017.
The four-level home comprises basement parking for 12 cars, with about 1380 sqm of internal living space including four bedrooms and nine bathrooms.
Its bold black facade, trimmed in white with pops of red, features turrets and porthole-like windows, while the home’s top level hosts a full-floor party deck, complete with rooftop pool, barbecue kitchen and teppanyaki bar.
“The entire top floor is an entertainer’s dream [and] can host over 100 guests, with stunning views beyond Surfers Paradise and the Hinterland,” the listing stated.
“This much-loved family home occupies a premium parcel of land boasting incomparable views without a neighbour in sight.”
Property features include a luxurious Hamptons-inspired kitchen with marble benchtops, an executive office, a lavish master bedroom with walk-in dressing room, boudoir, ensuite and private balcony, a wine cellar, gym, and a lift.
Mr Plant began his real estate career at 18 and founded his eponymous business with his interior decorator wife in the Melbourne suburb of Templestowe in 1979.
PropTrack data shows house prices in Paradise Point, encompassing the exclusive Sovereign Islands estate, were down 8.7 per cent over the past year to a median of $1.63m.