Contemporary Waterfront Home
Down Under in Surfer's Paradise

What: Six bedrooms, nine bathrooms in over 17,000 square feet

Where: Surfers Paradise, Queensland, Australia, about 30 miles south of Brisbane

Amenities: 110 feet of deep-water frontage, heated lap pool, elevator, gym, steam room, theater, 10 TV monitors for entertainment and video security

Asking Price: US$12 million

Opening Bid*: $11 million

Listing Agents: Josephine Crawford, Crawford Investments, +61-400-720-000, + 61 7 55 912 517

Due Diligence: This four-level contemporary property sits along Australia's Gold Coast, along the country's eastern shore and on the bay/river side of a peninsula. Developer Josephine Crawford and a group of investors built the house on spec. All of the bedrooms are en suite, and three have river views with large balconies. The security system allows remote access from anywhere in the world via a computer. The median price for Gold Coast homes rose 3.3% in the 2006 first quarter, after an 11% increase in 2005, the Real Estate Institute of Queensland says.

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