Philanthropist Sir Kostas Constantinou’s $7.3m Main Beach unit sold in one day

4/3565 Main Beach Pde, Main Beach

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A luxury apartment within Harvey Norman CEO Katie Page-Harvey’s Main Beach development was snapped up less than 24 hours after hitting the market with a $7.3m price tag.

The beachfront bolthole in the eight-level tower was owned by the late Papua New Guinea business leader and philanthropist, Sir Kostas Constantinou.

Marketed by Queensland Sotheby’s agent Kim Sharpe, the fourth-floor apartment in Ms Page-Harvey’s M3565 building sold to a local buyer.

Katie Page-Harvey at this year’s Magic Millions race day. Picture: Luke Marsden.

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“Due to the limited availability of oceanfront properties, beachfront apartments always attract significant interest,” Mr Sharpe said.

“The four bedrooms and four bathrooms of M3565, a prestigious mid-rise building, appeal to many prospective buyers.”

Ms Page-Harvey retains the penthouse and another apartment within the seven-unit building on Main Beach Pde.

Designed by Sydney architect Virginia Kerridge, the building showcases raw textural materials of concrete, timber and glass with a six-star sustainability rating.

There are seven apartments in the building

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Property records show Unit 4 had been held in Mr Constantinou’s name since 2018, when it sold for $5.5m.

The 330 sqm unit with a double car space was described in the listing as a “full-floor contemporary super-apartment epitomising refined direct oceanfront living”.

Features include floor-to-ceiling glass with timber screening, open-plan living and dining zone with a bar, kitchen fitted with top-range appliances, hardwood flooring and custom joinery.

Each of the bedrooms has direct access to a terrace, while three are ensuited.

The unit has four bedrooms and four bathrooms

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Open-plan living and dining with bespoke finishes

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“With prime on-sand beachfront positions in scarce supply, new building development costs soaring, and construction timelines experiencing significant delays, this rare property stands ready and presents an immediate move-in-ready opportunity in the most enviable of locations,” the listing said.

While the sale amount is undisclosed prior to settlement, it is understood to be near the asking price, representing a comparable uplift to another recent resale within the residents-only building.

Unit 2 sold in January for $6.35m, four years after it was bought off the plan for $4.5m.

The third-floor apartment, owned by internet millionaire Adam Hudson, was also listed for sale last year at $7.35m.

The development was completed in 2018

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The building’s exterior is naturally weathered

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Sir Constantinou employed thousands of people and expanded PNG businesses around Asia and the Pacific as the founder of the Constantinou Group of Companies.

He was regarded as a visionary leader and avid promoter of good governance and gender equality, and died aged 66 in 2023 following heart complications, according to family.

Ms Page-Harvey is married to Gold Coast entrepreneur Gerry Harvey and serves as CEO to the multi-billion dollar retail chain.

She paid $15.5m for the 882 sqm M3565 in 2007, completing the development in 2018 with the five remaining units sold for between $4.5m and $6.25m.