United Petroleum billionaire Avi Silver to auction off lavish Gold Coast beachfront mansion – realestate.com.au

The boss of one of Australia’s largest petrol chains is putting his luxury beachfront mansion in Queensland up for auction.

Billionaire Avi Silver, co-founder of United Petroleum, has put his Gold Coast property on the market, 15 years after he bought it.

The house has a serious appearance on the street.

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199 Hedges Avenue, Mermaid Beach.

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Property records show the Mermaid Beach property, which changed hands for $7.7 million in 2011, is owned by Parkdon Pty Ltd, a company associated with Avi Silver.

Mr Silver is believed to be based in Melbourne.

His five-bedroom, seven-bathroom home – used as a second home – is built over four levels on a 532 square meter corner block at 199 Hedges Ave, Mermaid Beach.

Hedges Ave is a prime location for Australia’s wealthy, along with Mr Silver’s neighbors including pub baron Bruce Mathieson, Highgrove Bathrooms boss Lindsay Sinclair and entrepreneur Clive Palmer.

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The property is located on the beach.

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Michael Kollosche and Ryan Ward, from Kollosche, are marketing the property, describing it as an “iconic” estate on the “Gold Coast’s most coveted street”.

“This is the ultimate location and lifestyle,” Mr Kollosche said.

“The house looks really good, but the seller just isn’t using it, which is the main reason they thought they would sell it.”

The house is located on a corner block in popular Mermaid Beach.

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The house is spread over four levels.

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The house has a striking appearance on the street thanks to custom-made laser-cut aluminum outdoor screens.

Inside there are wooden herringbone floors, opulent marble and designer lighting.

Notable features include two kitchens, a cinema, a rooftop entertainment area, a gym, an elevator, a games lounge, a teppanyaki plate and direct access to the beach.

“It’s a very well built house,” Mr Kollosche said.

“It’s a massive concrete house on a 532 square meter block, which is a third larger than the standard size there.

“That’s a pretty big difference when you sit on these blocks.”

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Mermaid Beach is one of the most expensive suburbs on the Gold Coast with a median house value of $3.295 million.

The suburb has seen significant growth over the years with new homes, an energetic cafe and restaurant scene and the light rail extension set to transform the location once again.

“The market there has been kept extremely tight and there are very few homes available on Hedges and Albatross avenues,” Mr Kollosche said.

“We’re seeing that more and more as the buyer profile becomes owner-occupiers – properties there just don’t come up for sale.

“It is becoming increasingly difficult to match homes to buyers.”