/Cashed-up buyers spend millions on Gold Coast property

Cashed-up buyers spend millions on Gold Coast property

The property at 26 Southern Cross Drive on Cronin Island has sold for $4 million.

A WATERFRONT home on one of the Glitter Strip’s most popular islands is among several properties across the Coast that have fetched hefty prices in the past week.

A local buyer snapped up the five-bedroom house on a corner position of Cronin Island for $4 million.

Ray White Broadbeach agent Sam Guo, who marketed the property with Julia Kuo, said its location and position facing the Surfers Paradise skyline attracted the attention of prospective buyers.

It has some of the best views.

A local buyer snapped up the property.

“This is probably one of the best positions on Cronin Island,” he said.

“The buyer had been looking for a property for a while.

“I had a couple of other interested buyers as well.”

Mr Guo has sold nine properties on Southern Cross Drive, which is the island’s only street, and said it was a highly sought after location.

The property had been on the market for a total of seven months with various agents before it sold.

While it marks a significant sale, property records show it sold for $60,000 less than it last did in 2007.

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It had been on the market for months with various agencies prior to selling.

The agent said the house was in one of the island’s best positions.

Meanwhile, a towering four-storey Paradise Waters mansion sold for a multimillion-dollar price before its scheduled auction.

Marketing agent Jackson Paradise, of Ray White Prestige, sold the Admiralty Drive home for a whopping $5.7 million.

“The buyers are local Gold Coast business people and they are thrilled at securing such a landmark property,” he said.

A custom-built Cape Cod-style home at Southport also sold hours before auction for an undisclosed price.

It was last advertised with a $4.75 million price tag in December.