42 Drayton Terrace
Mermaid Waters, QLD 4218

This expansive waterfront property is located in a highly sought-after area of Mermaid Waters, offering a unique opportunity for both owner-occupiers and investors. Held by the same family for nearly 40 years, this original home is now available for the first time since 1988, presenting a rare chance to acquire a prestigious waterfront holding.

The property boasts a generous 1,005 square meter block with approximately 37.5 meters of frontage along a protected water inlet. The residence is a single-level brick home featuring four bedrooms, two distinct living areas, and a large covered patio that overlooks the water, perfect for alfresco dining and entertaining.

Outside, the property includes a lagoon-style swimming pool surrounded by mature hedges that provide privacy. The tiered rear garden offers flat lawns ideal for children and pets to play freely. Additional amenities include a double garage with storage cabinetry and a pontoon for convenient access to the calm waterway.

The home is characterized by exposed brick walls and soaring vaulted ceilings, creating a charming and spacious interior. The floor plan is thoughtfully designed, offering an excellent foundation for a modern renovation to suit contemporary tastes.

This property also holds significant investment potential, with possibilities for land banking or subdivision, subject to council approval. Zoned RD1, the site offers flexibility for future development opportunities.

Key features include:

• Prime waterfront location with rare first market offering in nearly four decades
• Large 1,005 square meter block with approximately 38 meters of water frontage
• Original single-level brick residence with character features
• Two separate living zones and a spacious covered patio overlooking the water
• Lagoon-style pool surrounded by privacy hedges
• Tiered rear garden with flat lawns for recreation
• Double garage with built-in cabinetry
• Pontoon providing direct water access
• Master bedroom with walk-in robe and ensuite bathroom
• Additional bathroom with built-in bath and shower, plus a separate powder room
• Functional laundry with storage and external drying court access

Located in Mermaid Waters, one of the Gold Coast's most desirable suburbs, this property benefits from a family-friendly environment and proximity to essential amenities. It is less than one kilometer from the Q Super Centre and just 2.5 kilometers from the Pacific Fair Shopping Centre, a premier retail destination. Nearby attractions include the patrolled beaches, popular dining, and boutique shopping precincts of Nobby Beach and The Oxley, approximately 3.5 kilometers away.

The vibrant Broadbeach area is also within easy reach, offering a wide range of entertainment and dining options. Families will appreciate the property's inclusion in the catchment areas for Miami State School and Miami State High School, with several private schools accessible by car. Convenient access to major roads such as Bermuda Street and the Gold Coast Highway ensures straightforward commuting north or south.

This waterfront property presents a rare and valuable opportunity for those seeking a prestigious home with significant potential for renovation or investment. The combination of location, size, and features makes it a standout offering in the current market.

Council rates are approximately $4,598.62 per year, with water rates around $1,182.48 annually, excluding usage.