13 Albatross Avenue, Mermaid Beach. Source: Supplied
A FOUR-LEVEL mansion right on the beach in one of the Gold Coast's most exclusive suburbs has been placed on the market, with an astronomical price tag.
Property records reveal the home, on a double block of absolute beachfront land in Albatross Ave at Mermaid Beach is owned by Peter Drake, the head of financial services company LM Investment Management.
Last month LM Investment Management voluntarily placed itself under administration.
The mansion, known as Oceanview, once featured on television show Great Australian Sandcastles and in the book Beach Houses Down Under.
It is being marketed through John Henderson Professionals at Mermaid Beach.
Luke Henderson said if the asking price was achieved it would be among the highest price paid for a home on the Gold Coast.
"It really is an amazing home in an amazing location," Mr Henderson said.
The four-level home covers two beachfront lots and has six bedrooms, eight bathrooms, a theatre room, a roof-top bar and entertainment area, gymnasium and a private skateboard park.
The basement has parking for up to five cars.
Despite the high price tag, Mr Henderson expects strong interest in the property.
13 Albatross Avenue, Mermaid Beach. PIC: Supplied
He said there were buyers who could handle a property of that nature and his search will take in potential local buyers and those also based overseas.
13 Albatross Avenue, Mermaid Beach.
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