A waterfront mansion at Robina’s dress circle address of Piper’s Point has sold at auction to a Melbourne family for $2.8 million.

A crowd of 90 people watched as nine registered bidders battled it out at the auction staged by Lucy Cole Prestige Properties recently.

Lucy Cole said the 2700sq m Robina Waters property at 11 Pipers Point had been held by one family since 1988.

Ms Cole said the sale under the hammer and the level of competition for the property showed demand for prestige properties was returning.

“Many buyers in the prestige sector of the market have been sitting on the sidelines, waiting for signs that market confidence is beginning to re-emerge,” she said.

“I think that if vendors are patient and price their properties sensibly, they will certainly start to see more and more offers coming through the door.”

Ms Cole said the two-level 900sq m-plus architect-designed home at 11 Piper’s Point had been built to take advantage of the tranquil water and island views.

The five-bedroom, five-bathroom home has an airconditioned gym, a large sound-proof study, a climate-controlled wine cellar and a children’s playroom complete with an adjoining toy store room.

A giant open-plan living area flows from the lounge and formal dining area through to a billiards room.

“Upstairs a timber and glass bridge divides the four-bedroom children’s wing from the lavish master suite which incorporates a media room, parents’ retreat and nursery,” said Ms Cole.

Outside, the poolside barbecue pavilion has full kitchen facilities, wine fridges, integrated seating and a fireplace.