News Corp Australia Network
QUEENSLAND billionaire Mal Pratt has put his Sunshine Coast waterfront mansion on the market for the first time in nearly 30 years, with record-breaking price hopes.
The property developer and his wife, Judith, have owned the five-bedroom home on a 2083 sqm corner block in the affuent suburb of Minyama since 1995, when records show they paid $950,000 for the site.
Marketing agent Craig Morrison of Town said the property in Cypress Court could set a new residential sale price record for the Sunshine Coast, not including Noosa.
“It has 94m of water frontage, and it’s definitely a double block, but could even be a triple block,” he said. “Even the land alone would be $10m per block.”
Mr Morrison said Mr Pratt built the home himself with the vision to design it feel like a resort.
“For its age, it feels timeless,” Mr Morrison said. “It’s got that really resort-style feel.”
The property’s features include a powder room, multiple living areas, an office, a bar with wine and beer fridges, a 25m heated lap pool with a bridge across it, a gallery, and a four-car lock up garage.
The most expensive home sale on the Sunshine Coast, according to public records, is $13.5 million, which was for 20 Corks Pocket Rd, Reesville, in 2021.
Mr Morrison said most interest in the property so far had been from locals.
“It feels like the high-end (of the market) is still going strong,” he said. “A lot of locals are trading up, or trading sideways.”
The biggest sale for a house in Minyama was set in March 2022 when a Minyama Island home sold for $12 million.
Mr Pratt, of Pratt Property Group, is the developer behind a number of business centres and retirement villages in Queensland.
Now in his late 70s, he and his wife are downsizing to a unit.
Records show the Pratts paid $7.1 million in 2021 for an off-the-plan apartment in Birtinya and also own a holiday apartment in Palm Cove that they bought last year for $2.2 million.
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- Source: https://www.realestate.com.au/news/qld-billionaire-lists-epic-waterfront-home-set-to-break-records/
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