Rare opportunity for oceanfront living

Apalm-fringed compound offering a private tropical oasis along the Gold Coast’s richest stretch of beachfront real estate is on the market for the first time in 20 years. The huge site, spanning 1214sq m on prestigious Hedges Ave, Mermaid Beach, will go under the hammer next month. It is marketed by Amir Prestige principal Amir Mian for an on-site auction on December 3.

The estate is owned by David Railton Kennedy, who made his fortune through his role with The Lottery Office, a company offering Aussies entry into some of the world’s biggest jackpots, including USA Power Lotto and European Millions.

Mr Kennedy purchased the site at No. 43-45 for $10.15m in 2002 from Alan Thiess, the son of construction and mining pioneer Sir Leslie Thiess.

Six years later, Mr Kennedy bought the neighbouring property at No. 41 for $7.6m, creating one of the largest oceanfront holdings on the strip, stretching 30m along the sand.

Mr Mian said the home was on the market for the first time in 20 years, and offered a range of options for the new owner.

“When it comes to beachfront, this is the best location, 30m actual beach frontage on a 1214sq m block — you can’t ask for any better,” Mr Mian said.

“This amazing triple block offers endless opportunities. There is potential to enjoy the architecturally-designed home as is, renovate to add value or explore a future subdivision.”

The property occupies an elevated north-facing corner position with a fourbedroom, four-bathroom home constructed from solid concrete with soaring voids and timber panelled ceilings.

Features include expansive beachside decking with an outdoor barbecue kitchen.