This newly transformed Gold Coast penthouse positioned atop iconic Main Beach high-rise Malibu has been sold by Kim Sharpe and Michael Vettoretto of Queensland Sotheby’s International Realty for $5.7m following a 48-day campaign. 

3_malibu_penthouse_553_tedder_avenue_main_beach.jpeg

One of only two Penthouses within the 20-level, residential-only complex and long held by one overseas-based family, the exquisite apartment was on the market for the first time in nearly three decades.

Completed in 1988, Malibu was the first Gold Coast residential tower completed by Sunland, the multi-award-winning and internationally celebrated developer. Around 90% of owners within the complex have a 10-year tenure.

Following a newly completed transformation by The Lera Group, the three-level penthouse presents as a brand-new custom-designed modern home with a New York style.

5_malibu_penthouse_553_tedder_avenue_main_beach.jpeg

Speaking to LUXURY LIST WEEKEND, Michael Vettoretto said there were 25 inspections prior to the sale and over 20,000 views online. Interested buyers included locals, and both upsizers and downsizers.

“This is the epitome of unparalleled luxury coastal living - one of Main Beach’s finest, and a Gold Coast property of distinction,” Michael explained.

“It’s a 775sqm (approx.) penthouse in a tightly held building with amazing views. The buyer was a local who loved the overall size and layout of the penthouse.”

2_malibu_penthouse_553_tedder_avenue_main_beach.jpeg

As the larger of the two penthouses in the building, occupying over half of the 18th, 19th, and 20th levels of the building, the 3-bedroom apartment offers a captivating, uninterrupted panorama of the Pacific Ocean coastline, Broadwater super yacht marinas, Gold Coast hinterland and skyline. 

An enormous rooftop swimming pool with a spa deck and outdoor kitchen, and the interior levels are wrapped in floor-to-ceiling glass to capitalise on these views. 

1_malibu_penthouse_553_tedder_avenue_main_beach.jpeg

Malibu residents also access amenities and information including a well-equipped gymnasium, heated swimming pool and adjacent sauna facility, tennis court, manicured grounds and porte-cochere entry, CCTV entrance and security garage, as well as an on-site manager. 

4_malibu_penthouse_553_tedder_avenue_main_beach.jpeg

Michael told LUXURY LIST WEEKEND that prices in the local area remain solid, boosted by a lack of supply.

“Leading into the Spring market we are seeing great results, as cashed up buyers are actively looking to secure property and low inventory is maintaining price levels,” he explained. 

Source:  Queensland Sotheby’s International Realty

To view the listing or for more information click here.

See more luxury Gold Coast real estate:

Iconic Malibu Tri-level Penthouse Gold Coast sold - Sotheby’s

Mountain-top entertainer for sale overlooking Moreton Bay – Sotheby’s

Historic 1935 Kurwongbah Queenslander for sale on 2 acres - Sotheby’s