George Capital founder George Frazis has listed his Mondrian skyhome
A high-flying banking boss is set to pocket a stunning $6m profit on a Burleigh Heads skyhome — but not before delivering a cheeky roast to a rival Gold Coast prestige suburb.
Former Bank of Queensland and NAB executive George Frazis and his partner Ken Pratt have listed their apartment in the Mondrian Residences, just one year after the Australian-first luxury hotel-residential hybrid opened its doors.
PRD Burleigh Heads agents Ben Snell and Braiden Smith have listed the spectacular three-bedroom, three-bathroom beachfront pad at 1701/58 The Esplanade with an $11m price tag.
Mr Frazis is a former managing director and CEO of BOQ. Picture: Nick Cubbin
The Bondi-based owners snapped up Skyhome 1701 off the plan for $5.004m in 2021.
Mr Frazis, a corporate heavyweight who now runs his own $1bn-a-year lending firm, George Capital, is a regular in elite social and business circles and counts Mondrian builder Scott Hutchinson among friends.
His Burleigh weekender was built for serious entertaining, anchored by a bespoke Gaggenau chef’s kitchen, a custom wet bar, and a 4.4m waterfall stone island.
Other highlights include the lavish master suite, where a walk-in steam shower, Japanese Toto smart toilet, and a freestanding bathtub offer ocean views.
Mondrian Burleigh Heads is an Australian-first luxury hotel-residential hybrid
It’s the first north-east facing apartment in the building to come back to market
“The view when you first walk into the apartment is absolutely jaw-dropping. I’m honestly stunned every time I walk through the door,” Mr Pratt said.
“George and I live right on Bondi Beach, but the combination of the Gold Coast skyline, Burleigh Beach, and Burleigh Headland makes this view even more spectacular.”
Detailing their investment in the Coast’s southern end, Mr Pratt didn’t hold back on his preference for the thriving food and boutique scene on Burleigh Heads’ James St:
“Tedder Avenue on Main Beach is like an ugly sister by comparison.”
The apartment has views spanning from Burleigh headland to South Stradbroke Island
Breathtaking beach outlook from the master bedroom
As it turns out, however, the lively couple isn’t straying far from the “ugly sister”, moving into the Makris family’s Marina Mirage redevelopment on The Spit — which sits squarely inside Main Beach.
“George and I are simply changing ends of the Gold Coast… moving from the south to the north,” Mr Pratt said, adding George Capital was providing strategic finance support to the development.
“It’s already being referred to as the ‘Australian Riviera’, offering a St Tropez-style lifestyle experience.
“So, we’re swapping the beach for boating.”
A 4.4m waterfall natural stone island anchors the kitchen and dining zone
The kitchen has a six-piece Gaggenau appliance suite, plus there’s also a bar and cellar
As one of Australia’s first true branded residences, Mondrian owners have access to guest services of a five-star global hotel, including 24/7 room service and daily housekeeping, plus a dedicated residential concierge and automatic Diamond status in the Accor Live Limitless program.
“One of our favourite perks is being able to request the complimentary BMW town car service…to take us to an AFL game at Robina Stadium, pick us up from the airport, or drop us at Pacific Fair,” Mr Pratt said.
“Having room service delivered straight to the apartment from Haven, the hotel’s signature seafood restaurant, is pretty special…George is particularly fond of the bio-wellness treatments available at CIEL Spa.”
Entertain here with a built-in teppanyaki barbecue
Interiors feature textured paintwork, square-set ceilings, curved lines and scalloped tiles
Mr Snell said the apartment was particularly appealing as the first resale positioned on the building’s north-east corner.
“Residence 1701 is truly one of a kind. There are only eight premium north-east corner residences of this calibre in the building,” Mr Snell said, adding it was the preferred position for 80 per cent of prospective Mondrian buyers.
“With recent tax law changes, we are seeing buyers shift towards quality over quantity, with many choosing to consolidate into one larger, higher-calibre asset rather than spreading investments across multiple holdings.
“Burleigh is a highly constrained market, with very limited remaining land parcels and very little opportunity for future beachfront development. As a result, opportunities like this are becoming increasingly rare.”
The two most recent comparable sales were south-east facing Residences 1303 and 1902, which sold for $10.8m and $12.5m.
There’s three bathrooms with granite benchtops and brushed copper tapware
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