Home with waterfront helicopter pad sells for record sum
A BUYER with a passion for what for 40 years has been regarded as the Gold Coast's premier riverfront address, Commodore Drive at Paradise Waters, has made a record-smashing $9.95 million buy.
Glenn Molloy is buying Tulsa, a three-level mansion at 101 Commodore Drive that comes with the city's only approved waterfront helicopter landing pad.
The four-year-old home, which in 2019 was marketed at $14.5 million, also has a pillar-less seven-car basement garage.
Buyer Mr Molloy, investor and listed company director, for nine years owned a tri-level canal-front house at 108 Commodore Drive.
His new buy trounces the street record for a riverfront home of $6.6 million, paid by a Chinese buyer for No. 117 in 2015.
The all-out street record is $7 million, set by the 2016 purchase by entrepreneur David Baird and wife Marion of a canal-front home at No. 120.
Mr Molloy yesterday said his new buy was of the best house he had seen in Paradise Waters.
"It spans 1326 sqm, has been meticulously built, and is where I wanted to be - on main river."
The $9.95 million Mr Molloy is paying falls well short of prices being paid in the city's hottest riverfront street, Monaco St at Broadbeach Waters, where three sales between $12.5 million and $12.8 million have been made since August.
Tulsa has been sold by Robert and Nerolie Rye, who built it on an 1129 sqm lot bought from the Bairds for $2.25 million in 2013.
The asking price gradually was reduced from its $14.5 million 2019 peak, dropping to $10.9 million when it was marketed by Amir Prestige earlier this month.
The five-bedroom Tulsa, designed by Jared Poole and with a 30-metre river frontage, incudes a home cinema, au pair quarters, and a waterside bar.
Sellers the Ryes are Victorians who moved to the Gold Coast from Victoria in 2008 after selling a major irrigation business and became major investors in top-shelf residential property.
Their buys included two penthouses in Southport's Rivage Royale tower and an apartment in exclusive Main Beach address The Ocean Isles.
Amir Mian, of Amir Prestige, yesterday said the Ocean Isles property was under contract to a Brisbane buyer.
The price, $4.8 million, is $50,000 more than the Ryes paid in 2019.
Originally published as Coast home with waterfront helicopter pad sells for record sum