All eyes on latest Hedges home up for grabs
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Millionaires’ Row in Mermaid Beach is one of the busiest streets on the Gold Coast when it comes to properties changing hands, with No. 17 the latest to hit the market

Located at the “quieter end” of Hedges Avenue, four-storey mansion on a the 405sq m block has more than 800sq m of under roof living space, including a six-car basement.

Many of the rooms have ocean iews.

The six-bedroom home was once owned by one-time Indy boss and now Gold Coast Suns chairman Tony Cochrane, who sold it for $9 million to developer Robert Badalotti in 2007.

In 2011 Mr Badalotti sold it to controversial trade dollars company Contrabart for $4.1 million as a rebated sale. Contrabart, of which Mr Badalotti is a long-time associate, sold it for $4.1 million in 2014 to Mermaid Property Group, a company owned and directed by Mr Badalotti, who lives in the house.

The cellar.

Although it has only been on the market four days, selling agent Alex Caraco of Raine & Horne Elite said he had already received 24 inquiries, with two groups prepared to make an offer.

The house has had some major work done to it in the past few years, including the addition of the fourth storey as well as a complete refurbishment, in total clocking up a bill reaching into the multimillions.

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It has had multi-millions spent on it in recent years.

From the basement, which also houses a wine cellar, full gym and cold store room, take the lift to the ground level to find an ensuited guest bedroom and the home’s living areas, including a back deck leading on to the sands of Mermaid and Nobby’s beaches.

The house has been refurbished.

The living spaces lead onto the beach.

A further level up is the master suite, which has a dressing room the size of a bedroom and a separate shoe room. Also on this floor is a library and second guest bedroom.

On the ultimate storey are three further bedrooms with ensuites, a sauna, steam room, and huge cinema room from where you have views of the ocean.

It has a six-car basement.

The position of the house, next to a cul de sac, means it has only one direct neighbour, which affords expansive beachfront views from most of the rooms.

The only thing this mega mansion is without is a pool, but with the ocean metres from the back door, you could argue it is surplus to requirements.

Mr Caraco said there was provision to install one if someone wished.

It has no neighbours on one side.

“All the windows are double galzed so there is not street noise. It’s an extremely secure and prvate property,” he said.

The property is open to expressions of interest, with an interstate buyer and a local buyer expected to submit an offer this week.

The fully kitted out gym.


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