Clive Palmer has splashed $12 million on a new Gold Coast property.BILLIONAIRE Clive Palmer has splashed $12 million on a luxurious Mermaid Beach property, marking the Gold Coast’s highest sale this year.It was by chance the businessman came across the four-level Hamptons-style home on Millionaire’s Row, which belonged to developer John Potter.Tony Velissariou, of Tony V Real Estate, was the one who suggested Mr Palmer take a look at the Hedges Ave home.“He was looking at something else and when that wasn’t available, I suggested that he have a look at this one,” he said. The property is absolute beachfront.More from news02:37International architect Desmond Brooks selling luxury beach villa15 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoMr Velissariou said a nine-year working relationship with Mr Palmer meant he had a fair idea of what he liked in a property.“That property is probably one of the most admired on the Gold Coast beachfront strip,” he said.The deal knocks another Hedges Ave property out of the top spot on this year’s list of highest sales.The house at No. 103-105 set the record for 2018 when it changed hands for $11.6 million.Property records show Mr Palmer’s latest purchase was built in 2006 and sits on a 809sq m block with 20m of beach frontage.Mr Velissariou described the five-bedroom, seven-bathroom home in his listing as “meticulously designed” with “the highest quality materials and finishings”. Inside the stunning home on Millionaire’s Row.While it wasn’t officially on the market when Mr Palmer bought it, Mr Velissariou knew the owner would be interested in selling if they found a buyer willing to pay the right price. “I took the property to market a few years ago and it never achieved what we wanted it to achieve,” he said.He said there was an offer on it back then but it fell over so when Mr Palmer came looking for a special beachfront home, he knew this was the one.