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A striking Gold Coast mansion and former Home of the Year has sold under the hammer for $11.2m.

Four bidders contested the riverfront property at 1 Rowes Ct, Bundall, with the buyer taking the keys after upping their previous bid by more than $1m in a shock auction move which knocked out the competition.

The five-bedroom, seven-bathroom home on a sprawling 2,220 sqm north-facing parcel with 70m of water frontage in the exclusive enclave of Sorrento was marketed by Kollosche agents Sam Guo and Julia Kuo.

The house was formerly named Home of the Year

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Property records show only one higher sale in Bundall, a modern five-bedroom mansion which changed hands for $11.5m in April 2024.

Auctioneer Justin Nickerson took an opening bid of $8.5m, with bidding rising swiftly to $10m before the auction was paused for negotiations.

Mr Guo said the highest bidder agreed to up their offer to $11.2m and no more bids were made.

The house has five bedrooms

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The owners purchased the home two years ago

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The sale price represented a significant uplift for the vendors, who had paid $8.3m for the property in July 2022.

“Bidding was initially quite strong up to $10m, then we negotiated with one of the parties who made it clear they came to get this property,” Mr Guo said.

“The buyers were a local family who knew the area and had been looking for a property of this calibre and in such a desirable position.”

The Main River estate was built in 2013 and had previously been awarded Master Builders Home of the Year.

It occupies a stunning north-facing position on a wide waterway

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Seller Wenyan Wang said the property’s “massive waterway and north east aspect” had huge appeal, but the family was making a switch to acreage living in the Hinterland.

Features of the three-storey home included a cinema room, games room with bar, basement garage for nine cars, a library, and cavity ready for internal lift installation.

“This home is iconic in its point corner position,” Mr Guo said.

It’s an entertainer’s dream

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“Being there on the bend of the river you have a view from both sides that is simply spectacular.

“You could host an incredible party there, with one of the best positions in Sorrento to entertain your guests.

“Inside the home you could also fit a large intergenerational family.”

PropTrack data shows house prices in Bundall were up 23 per cent over the past 12 months to a median of $2.15m.