Culture Kings founder Simon and Tah-nee Beard at the Surfers Paradise penthouse. Picture: John Gass
Streetwear entrepreneur Simon Beard is taking his trophy beachfront penthouse to auction, confessing he regrets knocking back a stunning offer when the property was last up for sale two years ago.
The Culture Kings founder and his wife Tah-nee are ready to “meet the market” and accept significantly less than the $30m price tag attached to the flashy four-level Gold Coast pad in 2024.
The richlister couple are ready to meet the market. Picture: Portia Large
Mr Beard, who sold Culture Kings valued at $600m in 2021, admitted he “kicked himself” for not making a deal at that time given the lost opportunity costs since, despite remaining “super bullish” about the long-term outlook for the slowing local property market.
“I definitely feel I was … a bit of a smart arse thinking I would hold out,” the richlister said.
“We did get some really great offers, but I was adamant we can get the $30m, break the record, because it’s the best.”
Instead, they’d taken the property off the market to host a lavish party to coincide with the spectacular display of the Pacific Airshow Gold Coast – an annual tradition which has become a hotly sought-after invite for the city’s social set.
The Beards paid $15.25m for the property in 2021
The penthouse spans four floors and rises 230m above sea level
“I wanted to do a deal with whoever bought it, you got to have an Airshow party every year and I got to be invited,” Mr Beard joked.
But now with national home prices in freefall amid rising interest rates, he said they’d become “lazy and inefficient”, and it was time to let the prized asset go.
The 230m high, five-bedroom, seven-bathroom apartment crowning the Soul building at 7001/4 The Esplanade, Surfers Paradise is marketed by Coastal agent Tolemy Stevens.
Mr Stevens, who sold the property to the Beards for a then-record $15.25m in 2021, said the five-week campaign would culminate in a private auction on November 20.
Marble, chandeliers and solid oak floors set the luxury tone
“Make no ifs or buts, it is going to be sold,” he said.
“Forget all previous price expectations. The owners have made the decision to meet the market.
“For an astute buyer around the country or the world, this is your moment to acquire the ultimate Gold Coast holiday home or private residence.”
Features of the mega-penthouse include 360-degree panoramic views, a whisky bar, cigar lounge, eight-car garage and balcony gym, along with a marble rooftop entertaining zone boasting the highest private pool in Australia.
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Extravagant finishes throughout the home include a marble and brass staircase, custom chandeliers, while the commercial-style butler’s kitchen equipped for high-society entertaining.
“I trained on the balcony every morning, the sunrises and looking out at that view are so amazing,” Mr Beard said.
“Being up so high, you can just hear the waves, but you feel like you could be right at the back of Currumbin.”
Mr Beard’s sneakers on display, include a Louis Vuitton model selling for $500,000
The entrepreneur enjoyed sunrise views to start the day from the balcony gym
Five bedrooms include the lavish master with dual dressing rooms
Mr Beard converted library shelving into a $1m sneaker display – he said it now holds one of each pair of shoes, with the other at a replica of the wall in his family home.
The Queensland business identities and their four young children live at a waterfront mansion just minutes away, purchased for $11.75m in June 2020 before undergoing a full-scale renovation.
