Derivatives trader takes $1.65m hit in one year on sale of Gold Coast mansion with private nightclub

DERIVATIVES trader Andrew Killion has taken a big hit on the sale of his riverfront mansion, less than a year after splashing $13m to secure the Gold Coast trophy home with its own private nightclub.

Property records show new owner Joyce Ng recently settled on her $11.35m purchase of the sprawling home at 640 Nerang Broadbeach Rd, Carrara, which was marketed by Michael Kollosche.

Mr Killion, CEO of Chicago-based Akuna Capital, bought the Jared Pool-designed property in April 2022, but it was back on the market just six months later with an eye-popping $14.75m price tag.

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The house has changed hands twice in one year

Mr Kollosche declined to comment on the sale of the property. It was described in the listing as a “modern and aspirational main river entertainer and family compound”.

No stranger to the prestige property market, Mr Killion returned to his hometown of Sydney in 2020 and purchased a $30m Vaucluse mansion formerly owned by Alexander Ma, the son of Hong Kong media mogul Ching-kwan Ma.

Mr Killion opened Akuna Capital’s first office in Chicago in 2011, with the company since expanding to Shanghai, Hong Kong, Boston and Sydney.

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Tranquil river outlook

The designer double-storey home on a 3,860sqm at Carrara was named Master Builder’s Gold Coast House of the Year in 2019 and has five bedrooms and six bathrooms, as well as a large home office and cinema room.

Original owners, Dennis and Angela Perry, incorporated a separate recreation club with capacity to host celebration of up to 100 guests.

The entertaining precinct has a bar, kitchen, powder room, wine cellar, pool table, lounge seating area and high bar, three TVs, a poker table, and custom disco lighting.

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The wine cellar holds 1500 bottles

“It was very intentional to create the rec space away from the main house,” Ms Perry said when they listed the home last year.

“We’re in our fifties and let’s face it, 50-year-olds don’t go to nightclubs anymore, but we still like to have fun. We’ve had so many parties and good time out here.”

The pavilion overlooks a tennis court, and there’s also a large boat shed, covered al fresco terrace, outdoor teppanyaki barbecue kitchen and a 12m pontoon by the river.

PropTrack data shows house prices in Carrara were up 2.8 per cent over the last 12 months to a median of $944,000.

Article source: Queensland Property Investor