Gold Coast mansion a bargain at $12m

IT IS not often you can walk away from a $12 million property deal thinking you have snagged yourself a bargain.

But that is exactly how one shrewd investor is feeling after securing a newly built three-level waterfront mansion on Anchorage Tce at Sanctuary Cove on the Gold Coast.

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Costing $17 million to build, the five-bedroom home featuring seven bathrooms, nine formal and informal living areas, parking for 12 cars and a home cinema was a relative steal at $12 million.

The property has been listed for sale with different agents since last September before being sold through Matt Gates, of Ray White Sanctuary Cove.

$12 million - 5685 Anchorage Terrace, Sanctuary Cove - Five-bedroom, waterfront.
media_camera$12 million – 5685 Anchorage Terrace, Sanctuary Cove – Five-bedroom, waterfront.

Property records list its previous owners as John and Elizabeth Baines, retired business owners from the United Kingdom, who decided to sell a

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