A final-minute bid noticed a Palm Seashore renovator on three waterfront titles crack the $5 million mark in a hotly contested public sale over the weekend.
Some 25 bidders registered for a tilt on the landmark property at 146 – 150 Tallebudgera Drive, which was supplied to the marketplace for the primary time in 40 years.
Constructed within the early Eighties, the unique five-bedroom home on 2742 sqm boasts 75 metres of canal water frontage and is situated reverse Tallebudgera Creek.
Kollosche agent Rob Lamb, who marketed the property alongside Troy Dowker, mentioned greater than 200 individuals turned out to look at the public sale unfold yesterday.
“There have been households, there have been builders, there have been builders … the complete gamut of individuals noticed this as a chance,” he mentioned.
“The bidding opened up at $2.8 million earlier than climbing shortly to $4 million.
“It stalled for a bit and stored going to the ultimate bid of $5 million.
“The successful bidder solely bid as soon as. He waited proper till the very finish and elevated the bid by $50,000 to $5.05 million.
“It was a thoughts recreation and it labored as a result of the opposite bidders most likely figured it was his first bid and he had a lot extra in him. It was a very good technique.”
The interstate purchaser, who bid over the telephone, had flown to the Gold Coast to view the property at an earlier time.
“They liked the situation, they love the privateness and fell in love with the world once they have been up final time,” Mr Lamb mentioned.
The value units a brand new file for a canal dealing with property in Palm Seashore, in keeping with Mr Lamb who mentioned the outcome additionally marks a brand new precedent for the southern Gold Coast.
“It’s a constructive signal for Gold Coast actual property whenever you’re seeing data being damaged in these southern suburbs the place previously you may need thought these costs have been solely achievable in Mermaid Seashore or Isle of Capri,” he mentioned.
“Individuals are wanting on the southern Gold Coast as a extremely family-orientated place the place you possibly can have a life-style and nonetheless be related to the Coast.
“This worth actually units a precedent down there, it will likely be laborious to beat.”
The property was put to market by descendants of the Jordan household, who have been among the many suburb’s unique property pioneers.