A stunning investment… 59 The Corso, Surfers Paradise
Gold Coast richlister Rebecca Smollen is offloading a prized waterfront estate less than three years after snapping up the Gold Coast property for a record-breaking sum.
The sprawling resort-style holding at 59-63 The Corso, Isle of Capri, set a Queensland auction benchmark when it sold for $24m in July 2023.
The wife of property developer Shane Smollen has the trophy home as a key asset within the family’s blue-chip property portfolio, which also comprises a $19m beachfront mansion in Mermaid Beach settled in January.
The Surfers Paradise trophy home is held by Rebecca Smollen, wife of Shane Smollen
Among other recent transactions, the Smollens collected a staggering $33.5m in 2025 for the sale of a holding on Belongil Beach, Byron Bay.
Mr Smollen was a former heavyweight at McGrath, taking on a managing partner role with top Gold Coast prestige agency Kollosche last year.
His Sydney-based development company Central Element has delivered more than 500 apartments, with a portfolio worth more than $2.3b in 2025.
Kollosche principal Michael Kollosche is marketing the Surfers Paradise mansion, which will again go under the hammer on Wednesday, April 8.
It will go under the hammer again, less than three years after setting a Queensland auction record
The Balinese-inspired property was built in 2000 by surfwear industry boss Doug Spong
Built in 2000 by surfwear industry boss Doug Spong, the sprawling estate spans four amalgamated blocks totalling 2,197sqm and features more than 2,000sqm of built improvements.
It commands 52.7m of north-east facing river frontage on the coveted Adams Basin, capturing sweeping water views out to the Surfers Paradise skyline.
Mr Kollosche said the opportunity to acquire four side-by-side riverfront blocks in such a tightly held, central pocket was exceptionally rare.
“Most landholdings of this scale tend to sit much further away from the amenities people value, such as schools, beaches, restaurants and the lifestyle that defines the Gold Coast,” he said.
It is set over four waterfront blocks
The estate comprises a five-bedroom house and separate caretaker’s cottage
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Constructed from sandstone, New Guinea rosewood, Oregon timber, and teak, the Balinese-inspired residence is designed around a striking central atrium.
A suspended outdoor platform overlooks a wet-edge swimming pool, while the home’s open-plan living and dining area is anchored by a massive six-metre trapezoid stone island bench with a butler’s pantry.
The floorplan spans extensive entertaining zones, including a cinema, media room, wet bar, and a full-size billiards room.
5Entertaining areas include a billiards room as well as a cinema, media room and bar
The home’s six-car basement garage
There are five ensuited bedrooms in the main house alongside a self-contained caretaker’s cottage, while a 7,000-bottle wine cellar and a six-car basement garage round out the luxury package.
The property’s high-profile 2023 sale drew 10 registered bidders, a campaign Mr Kollosche said helped prove ultra-prime real estate could successfully transact in a competitive auction environment on the Coast.
Mr Kollosche said the vendor was “committed to selling” after their most recent big-ticket Gold Coast buy.
Mr Smollen joined Kollosche as a managing partner in 2025
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