Main Beach Parade

La Mer, the luxury Main Beach apartment project on the exclusive Main Beach Parade, has hit the market.

The 25-level tower, which was set to be a joint venture between QNY Group and Polites Property, is being sold with full development approval after a redesign by Plus Architecture. It will home 21 whole-floor apartments, spanning nearly 300 sqm, and one three-level penthouse with over 815 sqm of living space.

The 751 sqm site at 3580 Main Beach Parade,&nbsp;currently occupied by an apartment building with eight units, is being marketed for sale by Knight Frank and Kollosche Gold Coast.

The corner site is located with direct ocean access via Beulah Lane Way and Tedder Avenue.

Marketing agent James Elliott of Knight Frank said the site was an exceptional opportunity for a developer to capitalise on a DA-approved and detailed architectural and construction-documented site.

<img alt="La Mer" data-entity-type="file" data-entity-uuid="2e89511b-f8aa-4f0c-b9c5-856172485ca8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-03-09%20at%2011.59.04%20am.png?VersionId=syFPt4mu5qjZNG7lnF1IEW.PFZomxg4e" />

“It is a turnkey project for an incoming developer, with the design development completed, construction documentation prepared and all marketing collateral complete and ready to take to the market, with holding income from the current improvements on the site in the meantime,” Elliott said.

“The property is in a prime location for a luxury residential development, being in the prestigious suburb of Main Beach, and situated one street back from the beach, having direct access via Beulah Lane Way and Tedder Avenue.

“Very few beachside development opportunities remain in Main Beach, and the buyer demand for boutique luxury property close to the beach is strong.

“We have many buyers who would love to buy in the La Mer development, with strong enquiry and expressions of interest received during our recent marketing campaign.”

Apartments in the La Mer development were priced between $4 million and $17 million for the triple- story penthouse.

<img alt="La Mer" data-entity-type="file" data-entity-uuid="9888bc0f-7729-4386-a9bf-3b27ba04a03c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-03-09%20at%2011.39.24%20am.png?VersionId=jfW8dt57ZPowu.4O2wVpZoBpqa4SAUXs" />

Knight Frank’s just-released The Wealth Report 2023 found the Gold Coast recorded the highest luxury price growth of all the Australian cities over 2022 and was the fifth best performer in Asia-Pacific, according to the findings of the Prime International Residential Index (PIRI) 100, which tracks movements in luxury prices across the world’s top residential markets.

The tourist mecca saw growth of 4.1 per cent, equal with Toronto, followed by Melbourne (3.5 per cent), Perth (1.3 per cent), Sydney (1.1 per cent) and Brisbane (0.2 per cent).

The Gold Coast is also forecast to have the highest price growth for luxury property, at three per cent, over 2023, followed by Brisbane (two per cent), Perth (one per cent), Sydney (zero) and Melbourne (-1 per cent).

The best value for money for luxury space in Australia is also on the Gold Coast, where US$1 million will buy 117 sqm of luxury space, compared to 44 sqm in Sydney, 87 sqm in Melbourne, 104 sqm in Perth and 111 sqm in Brisbane.

<img alt="La Mer Kitchen" data-entity-type="file" data-entity-uuid="8b731843-2456-4a76-9aa1-26f02c478090" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-03-09%20at%2011.39.28%20am.png?VersionId=hXKDGFUUJhEJeo4GswDukNxVx99JUgjA" />

Last year the Gold Coast had 1057 prime sales, higher than every east coast city, except for Sydney at 2673. Melbourne had 773 prime sales, followed by Brisbane (733) and Adelaide (297).

Elliott said on the Gold Coast, Main Beach was growing in popularity in the luxury space.

“The suburb is undergoing a renaissance of luxury lifestyle offerings, including the soon-to-be developed Ritz Carlton Hotel and Superyacht Marina, proposed redevelopment of Marina Mirage shopping centre and state government Spit Master Plan,” he said.

Kollosche agent Adam Grbcic said there had been strong interest in the La Mer site from both local and interstate developers.

“Market sentiment has demonstrated confidence in Main Beach; the area is going through a renaissance and quickly becoming a favourable location for developers,” he said.

“Developer interest in this site has been unprecedented, with significant levels of enquiry received since it was released to the market two weeks ago, due to the progress on the DA, the effort and the time dedicated to getting a the green light from Council, and the likely inability to repeat the current scheme.

<img alt="La Mer" data-entity-type="file" data-entity-uuid="3ae2115f-3c1c-4838-b3bd-e9806fd59ff0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-03-09%20at%2012.02.17%20pm.png?VersionId=y7mIbTelPqk0vVlB4b9m3BE1qh2SpmEW" />

“With the refurbishment to Marina Mirage, the new $580million luxury hotel and super yacht marina, several luxury apartment towers which are achieving unprecedented sales rates for the Gold Coast, along with the proposed master plan of the Spit Precinct, Main Beach is becoming one of the mostdesirable locations on the Gold Coast to develop and ultimately to live.”

La Mer was set to be developed as a joint venture between local developers QNY Group and Polites Property. QNY Group director Anthony Quinn said he and JV partner Alex Polites worked collaboratively with council to craft a design that fit within council’s urban expectations, however the drawn-out approval process caused significant and inopportune delays.

“We fought long and hard to get the approval through, and we are proud of what we achieved. Our hard work and persistence have resulted in an incredible opportunity for another developer to deliver an iconic project on a landmark beachfront site at Main Beach,” Quinn said.

“Alex and I have a long-standing relationship. We both have diversified interests that require our time and attention now, and we have therefore agreed that is in best interest of our current, active projects that we dedicate our time to bringing them to fruition, opening the door for another developer to capitalise on the planning and effort that we have already committed to La Mer.”

Following development approval, a change application was submitted to seek approval for an additional six storeys. If approved this would enable the developers of 3580 Main Beach Parade to develop a 31-level tower and meet the intensifying appetite for expansive, multiple storey skyhomes on the beachfront.

The 751 sqm site at 3580 Main Beach Parade, currently occupied by an apartment building with eight units, is being marketed for sale by Knight Frank and Kollosche Gold Coast

Joel Robinson

Developers to swoop on La Mer, Main Beach apartment development site

The Melbourne property developing Stamo​ulis family is the next camp to take their eyes to the hot Gold Coast apartment market.

A company associated with family patriarch Harry St​amoulis, as well as Nick Parthimos, a board member at Hellenic Museum which was founded by Harry&#39;s late father Spiros Stamou​lis, has just lodged plans for Ari, a&nbsp;21-level apartment tower at&nbsp;3555 Main Beach Parade.

The current building, the well known Hibiscus on the Beach which has stood since the early 1980s, will make way for the BDA Architecture-designed tower which will have 33 apartments, just two per floor until level 16 where from&nbsp;there will be just whole floor apartments, until the huge two-level penthouse.

<a href="https://www.urban.com.au/new-apartments/ari-3555-main-beach-parade-main-beach-qld-4217"><img alt="" height="1196" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-03-04_at_8.21.28_am.png" width="1790" /></a>

The apartments are oriented to face the beach, with the open plan kitchen living and dining areas opening to an ocean-facing balcony.

Each of the bedrooms in the three-bed apartments have an ensuite and walk-in wardrobe. There&#39;s also a second living area located on the western side of the apartment, facing the city.

<a href="https://www.urban.com.au/new-apartments/ari-3555-main-beach-parade-main-beach-qld-4217"><img alt="" height="1128" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-03-04_at_8.55.17_am.png" width="722" /></a> 
The standard three-bedroom floorplan

The five sprawling&nbsp;four-bedroom apartments&nbsp;each have their own central lobby. Again, each bedroom have a walk in and ensuite, but the master bedroom has two walk ins and two ensuite bathrooms, one with a stand alone bath and one with a shower.

There are three living areas, and a separate home office room. A deeper balcony is accessible off the master and wraps around the main living and dining space.

<a href="https://www.urban.com.au/new-apartments/ari-3555-main-beach-parade-main-beach-qld-4217"><img alt="" height="1084" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-03-04_at_9.19.04_am.png" width="708" /></a> 
The standard four-bedroom floorplan

The huge penthouse starts at level 20, with the same four-bedroom floorplan as the whole-floor apartments, but with stair and lift access to a private rooftop terrace where there&#39;s a pool, spa, a number of terraces, and extensive seating.

The first level will home the building amenity, which includes a gym, multi-purpose room, business centre, and a spa with a sauna and steam room, and an impressive&nbsp;25 metre lap pool that faces the beach.

<a href="https://www.urban.com.au/new-apartments/ari-3555-main-beach-parade-main-beach-qld-4217"><img alt="" height="1188" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-03-04_at_8.22.00_am.png" width="2020" /></a>

According to CoreLogic&#39;s the company associated with Sta​moulis and Parthimos only own one apartment in Hibiscus on the Beach, bought for $670,000 in October.

The prime&nbsp;1,335 sqm beachfront site is next door to M3565, the luxury boutique apartment project developed by Harvey Norman chief executive Katie Page.

The beachfront side of the Main Beach Parade dress circle has been particularly popular in recent years. Late last year Gold Coast businessman submitted $160 million plans for a 21-level tower with just 24 apartments.

A few doors the other way is Midwater, the huge 47-level tower by Heran Building Group.

The current building, the well known Hibiscus on the Beach which has stood since the early 1980s, will make way for the BDA Architecture-designed tower which will have 33 apartments


Exclusive: Harry Stamoulis lodges Main Beach apartment development plans

Residents of the new luxury Main Beach apartment development, La Mer, will have the ultimate Gold Coast lifestyle on their doorstep when the whole-floor apartments are finished in late 2023.

Across the road from the beach on Main Beach Parade, La Mer comprises just 29&nbsp;apartments across its 34 levels. Only a handful of apartments remain, with high demand for a higher level of luxury continuing to sweep the Gold Coast.

It&#39;s just a stroll to the bustling Tedder Avenue, one of the most well-known strips on the Gold Coast for high-end fashion shops, convenience stores, restaurants and cafes.

A little further along the path is the&nbsp;Southport Yacht Club, which hosts live music, and the Marina Mirage, one of the most popular fresh fish eateries in the area.

[smartcode_project:default project_id=95606 project_image_fid=171658]

But the goal for developer Polites Property Group was to create a luxury tower than residents wouldn&#39;t have a need to leave.

Archidiom, the local Gold Coast architecture firm who handled the design, said the development&nbsp;takes the opportunity for the design of a contemporary, innovative subtropical building to provide a &lsquo;relaxed beachfront&rsquo; living.

&quot;The development will contribute positively to the character of the area by replacing the existing tired low rise building with a project displaying fresh, simple architectural lines to create modern urban liv​ing,&quot; Archidiom says.

&quot;The large liveable apartments which maximise natural light and cross ventilation through the provision of spacious living and balcony areas will be appealing to a large demographic of potential buyers.&quot;

[smartcode_project:default project_id=95606 project_image_fid=171653]

Just whole-floor apartments, starting from 307 sqm, La Mer is pitching itself as the ultimate downsizer development. &quot;Transitioning from a house to an apartment has never been easier,&quot; NPA Projects, who are marketing the development, suggest.

Cris Edwards, at Mannigan Interior Design, a boutique design house with offices in California and on the Gold Coast, handled the interiors of the luxury apartments.

Each apartment features at least three bedrooms, two ocean-view balconies and a&nbsp;luxury kitchen with a large walk-in pantry.

[smartcode_project:default project_id=95606 project_image_fid=171654]

Each apartment also has the convenience of a dedicated storage cage and two parking spaces.

Communal recreational facilities also sprawl across an entire floor, a blend of physical wellbeing and entertainment facilities.

There&#39;s a 13-metre pool, which is cleverly designed to be private, while also being open plan to&nbsp;take advantage of the consistent Gold Coast climate and the views to the beach.

[smartcode_project:default project_id=95606 project_image_fid=171648]

There&#39;s private sun lounges, a yoga lawn, and a number of dining areas with barbecue facilities.

The two-level penthouse in La Mer was snapped up by a Gold Coast local for just short of $6 million earlier in the year.

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The goal for developer Polites Property Group was to create a luxury tower than residents wouldn't have a need to leave.



What residents get at the full-floor La Mer, Main Beach apartments

Pearl Main Beach is set to soar 31&nbsp;levels in to the sky&nbsp;from its prime Main Beach Parade location when it is completed in mid-2022.

The apartment tower of just 80 residences, which has two and three-bedroom apartments which start from 95 sqm, was designed with a nod to its position just across the road from the beach.

Apartments, and the extensive amenity, all have floor-to-ceiling windows, to take in views either of the beach and the Gold Coast Skyline, or back to the hinterland.

[smartcode_project:default project_id=106752 project_image_fid=182210]

The brief was&nbsp;to create a statement entry, starting the luxury resident journey&nbsp;as early as possible.&nbsp;

An American design firm, who specialises in six-star international residences, created the luxury lobby, with a brief to set the scene of the luxury that Pearl will bring residents.

There&#39;s&nbsp;soothing pearl hues, accented by high-end finishes, as well as&nbsp;opalescent accent walls and a true hotel-style concierge desk.

[smartcode_project:default project_id=106752 project_image_fid=182206]

Every apartment has a balcony to capture the views. They act as an extension of the open plan kitchen, living and dining area, which acts as the hub of the apartments.

The kitchen is the heart of the apartment.&nbsp;Designed with a&nbsp;crisp white palette, the kitchen&#39;s are&nbsp;fitted with stone benchtops and Miele appliances, and offer the ultimate open plan space, with an island bench with sink facing the living area.

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Bedrooms are set away from the living space, but also feature full-height glass for sunrise and sunset.

The considered internal design includes well-appointed ensuites and walk-in robes.

[smartcode_project:default project_id=106752 project_image_fid=182209]

Residents will have high-end amenity throughout the tower, the most impressive the rooftop swimming pool and&nbsp;recreational facilities with skyline views.

On the same&nbsp;level is&nbsp;a dining area with wine cellar, available for private bookings.

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There will be also be a&nbsp;gym and a residents lounge.

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Apartments, and the extensive amenity, all have floor-to-ceiling windows, to take in views either of the beach and the Gold Coast Skyline, or back to the hinterland

Inside Pearl, Main Beach apartments, designed to take in extensive views

The veteran Gold Coast developer Raptis has launched sales at its latest Main Beach apartment development, the $160 million Pearl, Main Beach.

The 30-level tower at 3550-3552 Main Beach Parade will have 80 apartments, including&nbsp;a luxury two-level penthouse.

Pearl, Main Beach, is the first foray in to the Main Beach market by Raptis, headed by founder Jim Raptis who started the company in Sydney&nbsp;back in the mid 1960s.

Raptis&nbsp;said they&#39;ve been waiting for the right site to enter Main Beach.

&quot;With the reinvigoration of Main Beach and the growing owner-user market, we&rsquo;ve been looking for the right location for our involvement in the suburb,&quot;, Raptis said.

&quot;We&#39;ve found it with Pearl, which we&rsquo;re very excited to bring to Main Beach.&rdquo;

[smartcode_project:default project_id=106752 project_image_fid=169996]

Raptis believed the current property cycle offered unique opportunities for buyers to secure a sought-after Main Beach lifestyle.

&ldquo;Empty-nesters, wherever they are located, are achieving more for their homes at the point of sale, providing them with the liquidity to secure a Main Beach lifestyle. It&rsquo;s a great moment for the Gold Coast and we&rsquo;re excited Pearl, Main Beach will offer a lifestyle many residents thought was out of reach.&rdquo;

The two-bedroom, two-bathroom Pearl apartments that span 85 sqm start from $749,000. The three-bedroom, 140 sqm&nbsp;apartments are priced from $1,345,000.

Residents will have access to the rooftop swimming pool and recreational facilities with skyline views. On the same level is a dining area with wine cellar, available for private bookings.

[smartcode_project:default project_id=106752 project_image_fid=169994]

A super penthouse crowns the top two levels. It will have over 700 sqm of living space with four bedrooms, its own private pool, multiple living areas and an opulent library. The whole floor apartment will have 360-degree views from the beach to the hinterland.

The price is yet to be finalised, however it is expected to&nbsp;to rival the Soul penthouse which recently sold for over $14,000 per sqm, suggesting a sale of the Pearl penthouse at around the $10 million mark.

There will be&nbsp;two further skyhomes with 550 sqm of living space and&nbsp;12 sub-penthouses, priced from $1.975 million.

[smartcode_project:default project_id=106752 project_image_fid=170008]

Construction is underway and is expected to be completed in August 2022.

To the end of 2020, Queensland recorded the highest rate of net interstate migration of any state, according to the ABS. Over 30,000 additional residents were drawn to Queensland due to the state&#39;s response to COVID-19

Raptis joint managing director Evan Raptis said the Gold Coast had recorded strong price growth against the backdrop of the pandemic.

&ldquo;Compared to the East Coast capitals, the Gold Coast still offers discernible value to buyers &ndash; especially for those that seek to elevate their lifestyle,&rdquo; Raptis said, adding that Pearl, Main Beach would appeal to a broad base of buyers.

About Raptis

Raptis is a Queensland-based development company jointly led by Jim and Evan Raptis. Raptis has been an innovator of style and functionality across integrated residential, resort, retail and commercial development.

Over more than 40 years, it has created more mixed-use developments than any other Gold Coast development company, including the landmarks Tower of Chevron Renaissance, Southport Central and the Phoenician.

[smartcode_project_cta: project_id=106752]

Pearl, Main Beach is the first foray in to the Main Beach market by Raptis, headed by founder Jim Raptis



Raptis launch Pearl, Main Beach apartment tower amid booming Gold Coast market

The property development firm Polites Property Group, in a joint venture with construction company Descon Group Australia, have lodged plans for a $95 million tower&nbsp;on the Gold Coast&#39;s Main Beach.

Polites, ran by the Polites brothers Alex and Marcus, have an interest in the luxury Palm Beach development Cabana, while Descon are set to start construction on the luxury Southport development Waverley this year.

The Main Beach project to be known as La Mer, at 3580 Main Beach Parade&nbsp;on the west side of the street not fronting the beach,&nbsp;will home 28&nbsp;single level&nbsp;apartments designed by the local architecture firm Archidiom, as well as a large penthouse.

[smartcode_project:default project_id=95606 project_image_fid=164808]

Archidiom are also&nbsp;behind a tower at 3550 Main Beach just up&nbsp;the road, as well as Aniko&#39;s Grant Avenue, Hope Island development and Sea at Palm Beach.

The 751 sqm site is currently home to the 1980s three-storey apartment building Denver Court.

The development application package from Archidiom suggested the project takes&nbsp;the opportunity for the design of a contemporary, innovative subtropical building to provide a &lsquo;relaxed beachfront&rsquo; living.

[smartcode_project:default project_id=95606 project_image_fid=164806]

&quot;The development will contribute positively to the character of the area by replacing the existing tired low rise building with a project displaying fresh, simple architectural lines to create modern urban living,&quot; the submission read.

&quot;The large liveable apartments which maximise natural light and cross ventilation through the provision of spacious living and balcony areas will be appealing to a large demographic of potential buyers.&quot;

The typical floor plan will be two three bedroom apartments, both orientated towards&nbsp;the north-east and south-east ocean views.

[smartcode_project:default project_id=95606 project_image_fid=164809]

There will be a two level recreational level on level three.

The building will feature a podium which is&nbsp;articulated with grand curvilinear arches and flying canopies and planters to respond in scale to the surrounding streetscape character, with shade provided for through a recessed&nbsp;east facing lobby.

Construction is reported to commence in May next year.

The 751 sqm site is currently home to the 1980s three-storey apartment building Denver Court

Tower reveal: Polites Property Group and Descon lodge plans for Main Beach tower La Mer

Apartment sellers in the luxury Main Beach block Sea have joined the windfall gains kicked off by the off the plan buyers three years ago.

The sixth level sub-penthouse in the boutique block of just seven whole floor apartments has just sold for $6.3 million, some $800,000 higher than it was bought for just eight months ago.

The whole floor apartment spans 365 sqm and has three ensuited bedrooms, a home office and a media room.

<img alt="" data-entity-type="" data-entity-uuid="" height="796" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sea_main_beach_2.jpg" width="1200" />

The sale was secured in just 15 days by Ray White Surfers Paradise agent Robert Graham, to a local couple from the Gold Coast.

Investors will no doubt be looking to some of Main Beach’s high end apartment developments given the resale value which Sea, on the beachfront Main Beach Parade, has seen in recent years.

The majority of Sea’s off the plan buyers have seen huge price gains when re-selling their apartments following its mid-2018 completion.

<img alt="" data-entity-type="" data-entity-uuid="" height="802" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sea_main_beach_3.jpg" width="1200" />

Most off the plan sales took place in early 2018, a few months before the Bayden Goddard-designed block was completed.

The second level apartment sold for $3.3 million in early 2018, and less than 15 months later when completed sold for $5 million. It traded again last year, bought for $5.35 million by the Dominos Pizza boss Don Meij.

<img alt="" data-entity-type="" data-entity-uuid="" height="787" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sea_main_beach_4.jpg" width="1200" />

Apartment five, another which sold for $3.3 million off the plan in 2018, sold last year for $5.5 million, a $2.2 million gain in just two years.&nbsp;

It was sold by Brittany Eastment, wife of car dealer Greg Eastment, the latter still owning the ground level after his $3.5 million off the plan buy.

The whole floor apartment spans 365 sqm and has three ensuited bedrooms, a home office and a media room.

Main Beach apartment complex Sea secures $6.3 million sub-penthouse sale

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De Ville is the Main Beach apartment block in the Gold Coast at the centre of the on-going expenses scandal involving Federal Health Minister Sussan Ley.
Ley, who has <a href="https://www.urban.com.au/news/63692-sussan-ley-s-gold-coast-goodtimes-triggers-her-frontbench-exodus" target="_blank">stood down from her position</a> after being accused of using taxpayer funded travel entitlements, spent $795,000 on a two bedroom apartment in 2015.
It was claimed her trips to and from the Gold Coast were taxpayer funded.
A one bedroom, in the <a href="https://www.realestate.com.au/sold/property-apartment-qld-main+beach-123915546" target="_blank">3645 Main Beach Parade building</a>, (above) sold recently for $410,000.
Last traded for $305,000 in 2013, the apartment went back in price after having sold for $360,000 in 2007.
It went for $193,000 in 2002 and just $80,000 in 1984.
Further recent sales in the apartment block suggest Ley isn't likely to make any immediate gain on her purchase.
The apartment next door to Ley's fetched $739,932 in September last year.
The <a href="https://www.realestate.com.au/sold/property-apartment-qld-main+beach-123281610" target="_blank">8th floor, 131 sqm apartment</a> (below) had been renovated to the highest standards and has two bedrooms and two bathrooms like Ley's, and an ocean facing balcony.
<img src="https://www.urban.com.au/images/2017/01/12/Screen%20Shot%202017-01-12%20at%201.50.46%20PM.png" alt="">
The property has gone backwards in price, having last traded for $742,000 in 2011.
It also traded in 2005 for $648,500, 1999 for $310,000 and in 1985 for $285,000.
Another <a href="https://www.realestate.com.au/sold/property-unit-qld-main+beach-122172174" target="_blank">two bedroom, two bathroom apartment</a>, (below) this one on the 5th floor, also offering an ocean facing balcony sold for $625,000 back in May.
<img src="https://www.urban.com.au/images/2017/01/12/Screen%20Shot%202017-01-12%20at%201.51.54%20PM.png" alt="">
This apartment too has gone back in price the last two times it's traded.
Last traded for $650,000 in 2012, the apartment also went back from its 2007 price of $770,000, which suggests Ley won't be getting her money back were she to sell.
It previously traded for $250,000 in 1996 and $117,000 in 1980.
Neither apartment tops the big $795,000 price that Ley paid.
Ley's apartment too had gone back in price when she bought it, having last traded for $830,000 in 2006.
It sold for $455,000 in 2002 and $205,000 in 1984.
Ley also used taxpayers money to visit the Gold Coast when <a href="https://www.urban.com.au/news/63776-sussan-leys-initial-gold-coast-purchase-offer" target="_blank">bidding on another property</a>, this one on the hinterland, however her offer wasn't accepted.
 
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