Alicia and Tony Stephens have sold their sprawling Mermaid Beach property after four years
Industrial boss Tony Stephens and his stylist wife Alicia have sold their Mermaid Beach mansion for $16.75 million, marking a stunning uplift of $4.75m in just four years.
The sale of ‘The Beachside Estate’ at 30 Hedges Ave equates to more than $1.18m in capital growth for every year the couple held the sprawling luxury home.
Records show they purchased the property in 2022 for $12m.
The transaction sets a new benchmark for a dry block on Hedges Ave, widely regarded as the Gold Coasts’s most exclusive beachfront strip and known as ‘Millionaire’s Row’.
30 Hedges Ave, Mermaid Beach has sold for $16.75m
It is set over a triple block along the prized Hedges Ave stretch
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Mr Stephens’ family is behind the city’s largest industrial hub, the 127ha Empire Industrial Estate at Yatala.
The Stephens Group, spearheaded by Tony with his brothers Phil and Henry, launched the industrial site a decade ago following the 2005 closure of the Darlington Park International Raceway, which was built by their late father in the 1980s.
The couple is behind a string of high-end local renovations, and sold another Mermaid Beach mansion for $14.1m in 2023.
Spanning a rare 1,214sq m triple block with 69 metres of dual street frontage, their renovated two-level home just sold had five bedrooms, four bathrooms and a large home office.
The Stephens family developed an industrial hub at Yatala, while the couple is behind several high-end renovations. Picture: Supplied
The upper level was designed around an open-plan layout with timber floors, soaring ceilings, and a full-width balcony capturing coastline and Hinterland views.
Downstairs had dual-living potential via a spacious guest wing, which opens out to tropical gardens, a pool, spa, and six-person sauna.
The estate also features secure entry via Tamborine St and off-street parking for more than 12 vehicles — a highly unusual advantage for the tightly held beachfront strip.
Amir Mian and Carlie Mills of Amir Prestige handled the sale.
The home has dual-living potential
Interiors have been updated with a fresh, coastal style
Mr Mian said the property attracted 55 qualified buyers and multiple cash offers before an interstate buyer claimed the keys.
“Through strategic marketing, relentless dedication, and deep market expertise, we were able to achieve an outstanding result,” the agents said.
“It was a privilege to once again represent our valued sellers, with whom we have shared a history of record-setting successes.
“Equally, we are thrilled for the buyers, who have relocated interstate to secure their dream beachfront lifestyle on the Gold Coast.”
PropTrack data shows Mermaid Beach house prices were up 12.8 per cent over the past 12 months to a median of $3.42m.
There’s an easy flow between indoor and outdoor areas
The sale has set a record for a non-beachfront block
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