The Gold Coast has just seen a new property record set with the $8 million sale of the luxe two-level penthouse at The Oracle. The sale, to a Chinese national, smashed Broadbeach price records for both apartments and houses, and also registers as the Gold Coast’s highest residential sale of the year. The price equates to $8,000 per square metre.

The $8 million sale came within three days of a marketing rebrand by Jayde Pezet and Tanya Mathews from KM Sales & Marketing, with the buyer introduction made through the team at Tony & Leo Prestige. The deal included a swift 14-day settlement on September 10. 

The previous penthouse record for Broadbeach was the $5.5 million sale of a Vogue apartment in 2010. The current median sales price of houses in Broadbeach is $2.25 million, while the median price of units is $397,500.

Set on the building 50 and 51st floors, the 1,117m² penthouse comprises four bedrooms, a media room, a study, and a private rooftop pool, spa and steam room. It has 360 degree views of the Pacific Ocean and Gold Coast Hinterland.

KM Sales & Marketing also brokered the 2015 record-breaking $25 million off-the-plan sale of the penthouse at Australia 108, the southern hemisphere’s tallest residential tower in Melbourne's Southbank. Pezet, a director with KM Sales & Marketing, said the sale of both penthouses to Chinese buyers came from the company’s extensive international networks, collective experience and intrinsic market knowledge.

"Many international high-net-worth individuals are looking to Australia as part of their wealth preservation strategies and our international experience and connections enable us to reach potential purchasers all over the world, as well as across Australia," Pezet said. "The record price reaffirms The Oracle’s standing as the Gold Coast’s prestige tower of choice."

Tim Keenan, Director of KM Sales & Marketing, told The Real Estate Conversation the firm has been working on the penthouse for a long time and has been looking forward to settling it.