Gold Coast apartment flipped for $9.3m, netting owner a $3.14m windfall

The first resale within the new Royale building has netted the seller a stunning profit An interstate vendor has cashed out of a $9.3m Gold Coast apartment, walking away with a multimillion-dollar windfall before they even unpacked a box. While days on market stretch out across the country amid a shifting property market, the stunning beachfront deal was closed in just 14 days, delivering an impressive $3.14m profit. A NSW-based owner paid $6.16m in 2022 for the half-floor apartment within the recently completed Royale tower. The ocean-facing 34th floor skyhome at 3402/7 Northcliffe Tce, Surfers Paradise was listed for sale just after it settled in July via an expressions of interest campaign with Coastal agent Tolemy Stevens. Floor-to-ceiling glass capturing sweeping ocean views Luxury living spaces inside the half-floor apartment Mr Stevens said the vendor intended to use the property as a holiday home rather than a speculative investment, but the massive uptick in capital growth made the decision to sell simple. “A lot of people buying off the plan back then didn’t think their property would have increased 30, 40 or even 50 per cent,” he said. “People’s circumstances change, and...