Airport richlister pays $17m for beachfront holiday pad
The owner of Australia's only privately funded airport, John Wagner, has been revealed as the buyer of a luxe holiday home in the 'Billionaire's Row' of the Gold Coast, as beachfront property prices continue to take off.
Records show the Queensland businessman has forked out $16.75m for the four-level, six-bedroom house in Hedges Ave house, Mermaid Beach.
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That's almost double what the vendor, Azzura Group boss Roberto Badalotti, purchased the property for in 2007.
Kollosche principal Michael Kollosche and agent Harry Kakavas sealed the sale of the Hedges Ave pad, described in the listing as 'the pinnacle of luxury'.
Mr Kakavas would not disclose the buyer's identity at the time of sale, but confirmed the property was purchased by 'an extremely well-known family' as a holiday home.
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Records now show that family was none other than the Wagner family family behind the Toowoomba Wellcamp Airport, west of Brisbane.
The Wagner family is worth about $1.1 billion and its latest foray in Toowoomba is a sustainable fuels business joint venture that plans to develop a facility to turn waste-based feedstocks into sustainable aviation fuel.
The fuel could be used for flights in and out of Wellcamp.
The airport and surrounding land including a business park, trade, aerospace and defence zones, form the basis of the Wagners' wealth, along with the ASX-listed Wagner Holding Co building materials company.
'The beachfront is going from strength to strength because of the limited supply,' Mr Kakavas told News Corp.
'The rich are getting richer, and the rich want what they want. They want beachfront and they are prepared to pay a premium for it when it does become available.'
Mr Kakavas said the buyer particularly valued the corner position of the 405 sqm lot with 10m waterfrontage offering direct access to the sand and stunning ocean views.
Highlights of the mansion's four-level floorplan include open-plan living spaces leading out to an al fresco deck, an internal lift, luxurious master bedroom and ensuite with a freestanding tub overlooking the beach, sauna and steam room, library and home theatre with bar.
There's also a temperature-controlled wine cellar, gym and basement garage, as well as an impressive kitchen fitted out with Miele appliances, stone island bench, and a large butler's pantry.
'Meticulously rejuvenated, every aspect of the property exudes luxury, with premium finishes such as travertine, marble, Onyx, and Venetian plaster,' the listing stated.
'The design seamlessly marries natural beauty with modern functionality, offering spaces crafted for lavish entertaining and tranquil relaxation.'
Mr Wagner has been steadily building up his property portfolio in recent years, with records showing he bought a property with ocean views in Surfers Paradise in 2022 for $4.6m, and a Brisbane CBD unit in 2023 for $3m.
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