Two villas remain at $31 million Mermaid Beach development

Gold Coast developer Alroe is approaching a full sellout at The Finn, its premium $31 million boutique development located at 120–122 Albatross Avenue, Mermaid Beach, with six of the eight villas now sold and more than $23.5 million in total sales secured ahead of completion. 

Only two luxury residences remain in the development. The Finn which has captured the attention of local downsizers seeking high-end alternatives to traditional high-rise living.

The remaining villas – priced from $3 million – include a ground-floor residence, Villa 1, which will be marketed through a standard expressions of interest campaign, and an upper-level residence, Villa 6, which will be open for inspection from April 19 ahead of a scheduled auction event on May 8, 2025. 

CEO of Alroe, Tye Alroe, said the sales momentum at The Finn reflects a broader market shift as long-time homeowners in central Gold Coast suburbs look to capitalise on capital growth and secure luxury homes with less maintenance, without compromising on lifestyle.

“We’re seeing a continued push from established locals who are selling large family homes and opting for a premium residence in familiar, well-connected locations,” said Tye.

“The Finn meets that need – it’s low-density, design-led, and offers the level of sophistication buyers expect when downsizing from multimillion-dollar homes.” 

Sales have averaged close to $4 million, underlining sustained demand in the top end of the market.

“This is a segment that’s growing rapidly – equity-rich locals, including downsizers and professionals, want space, style and proximity to lifestyle amenities without moving into high-rise buildings,” said Tye. 

“Our strategy has always been to deliver premium boutique residences in blue-chip locations that offer lasting value, and The Finn is a direct result of that focus.” 

Among the purchasers is long-time Mermaid Waters resident and real estate professional Nick Jamieson, who said the combination of quality, layout and lifestyle made the decision to buy and easy one.

“I’ve been in real estate on the Gold Coast for 25 years and have lived on the water for the past two decades, but we were ready for a change,” said Nick. 

“The northeast corner position, ceiling height, natural light and finishes were all exceptional. The fact that Alroe removed the powerlines from the front of the site says a lot about their attention to detail.”

Nick said lifestyle was a key factor in his decision. 

“My son and I are both surfers and we wanted to be closer to the beach,” said Nick. 

“You’ve got everything nearby – cafes restaurants, the beach – and it still feels like a real home. It’s a lifestyle upgrade in every sense.” 

Positioned just metres from Hedges Avenue and within walking distance of the beach, The Finn features eight architecturally designed villas ranging in size from 214sqm to 390sqm. Each residence includes expansive three-bedroom layouts, private pools or rooftop terraces, and curated landscaping to enhance privacy and liveability.

The design draws on coastal-inspired materials and finishes, including Venetian render, travertine stone, large-format floor plans, and 3-metre ceilings. Each residence also includes dedicated home offices, private garages, and multiple living zones tailored for owner-occupiers.

With new luxury townhouse supply in central locations remaining limited, The Finn has resonated with a niche yet deep buyer pool – primarily local, equity-rich, and intent on staying close to family and familiar lifestyle precincts.

The project follows the success of Alroe’s Lune at Main Beach and continues the developer’s strategy of delivering boutique residential offerings in high-demand coastal suburbs.

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