As Queensland’s upscale market shifts into high gear, the state’s ultimate luxury vacation home, Mandalay House, has been brought back to the market by the Rich Lister Tartak family for around $ 20 million.
This is the Mediterranean-style trophy house at Airlie Beach that took over three years to build by real estate developer and yacht seller Neil Murray and his wife Denise. .
It hits the market just days after widespread, but unconfirmed reports that the Queensland home price record was recently broken by the $ 34 million sale of Noosa’s Webb home in Sunshine Beach, crushing the peak of $ 25 million a year ago for the home of former AFL player turned real estate developer Tony Smith and his wife Simone to billionaire Pask family.
Ken Jacobs of Christie’s International, who listed the property with Mark Beale of Ray White Whitsunday, said the property is coming back to market because the owners are spending more time on business interests in Sydney and would like to see another family benefit from the property.
The opulent mansion is a study of trophy inclusions. A porte-cochere entrance and a marble staircase lead to seven bedrooms, all with a private lounge and en-suite bathroom, the main one spread over 144 square meters with an en-suite spa.
There is a home office with a separate reception room, library, and living areas that overlook the resort-style pool and Coral Sea, as well as a separate guest house.
Airlie Beach’s high-end market has also seen an increase in activity in the wake of the pandemic. Whitsundays’ property, Chesapeake Whitsunday, was sold by Hog’s Breath Cafe co-founder Don Algie last October for $ 6.5 million to horse racing personality Alan Galloway.
Mr Beale says he talks to about two people in Melbourne every day who want to settle there. Additionally, demand – mainly from Melbourne – has seen an increase in demand for luxury vacation rentals.
âIn the past six months, we have sold over 15 properties for over $ 1 million. For a bit of perspective over the past six months, we’ve sold five in this line, âMr. Beale said.
The 4,200 square meter property is no stranger to the high-end real estate market having spent four years on and off the market starting in 2013, initially with hopes of $ 25 million, until ‘it was sold for $ 14 million to interests linked to the Sydney-based founder of Bingo Industries. Tony Tartak.
More recently, said Beale, the property has been significantly upgraded and marketed as a high-end rental for $ 20,000 a night.
Tony Tartak and his family were placed 165th in this year’s ranking Australian Financial Review Rich List 200 with an estimated value of $ 679 million thanks to the family-owned dump truck company founded in 2005 with just four trucks and 100 garbage cans that has since grown into the more than $ 2 billion Bingo Industries group with more than 300 trucks on the road.