A RARE double beachfront block in Currumbin was sold under the hammer for $10.125m at a nail-biting on-site auction.
The deceased estate on a 1,138sq m lot at 746 Pacific Pde was marketed by Troy Dowker, of Kollosche, and sold to local engineer, Andrew Barry, and his wife, Julie.
While the eye-popping sale price came in under the suburb record of $11.3m set in 2021, it set a new high bar per square metre of $8,897.
A crowd of 16 registered bidders along with neighbours and others arrived early to take in 220-degree uninterrupted ocean views from the property’s balcony before Friday’s auction.
Auctioneer Justin Nickerson, of Apollo Auctions, took an opening bid of $3m, which was swiftly doubled, leading to a volley of 14 more bids between five buyers before the house was announced on the market at $10m.
“We’re playing for keeps,” Mr Dowker said.
The underbidder raised his paddle on the third call with a final play of $10.1m, prompting Mr Barry to shake his head, indicating he wouldn’t go higher.
Also present, Kollosche principal Michael Kollosche called out — “hang on a sec” — stalling the auction as a late bidder was registered.
It was a pause for thought on the opportunity at hand for the Barrys, who jumped back in with their winning bid.
The house was built in the 1990s
“We’re out,” said the underbidder.
“We sure?” said Mr Nickerson.
“Absolutely!” came the emphatic reply.
The high-end purchase was a sentimental upgade for the Barrys, “born and bred Gold Coasters” who currently own a beachside property along the same sought-after stretch.
They plan to build a family home to share with their three children, aged 19, 17, and 10.
“We’re from Currumbin so we know it’s a special place,” Mrs Barry said.
“A property like this doesn’t come up very often.
“The views, the ocean as the backyard — it’s pretty unique.”
Mr Dowker said the result indicated continued strong demand for unique beachfront property, despite slower market conditions since 2022.
“It’s a record price for a house on Pacific Pde, including Currumbin, Tugun and Bilinga,” Mr Dowker said.
The suburb record of $11.3m, or $8,807 per sq m, was for the off-market sale of a luxury home on a 1,282sq m block at 16 Darwalla Ave. That sale was handled by Ed Cherry, of Harcourts Coastal.
Mr Dowker said the prized location opposite iconic Elephant Rock with huge frontage of 20.4m had drawn wide interest through the campaign from prospective buyers.
The five-bedroom, three-bathroom brick and tile home was built in the 1990s by late-owner Beverley Jorgensen and her husband.
The family had previously owned just one of the titles, but acquired the adjoining lot from their neighbour 40 years ago for just $50,000, according to property records.
Solicitor Jeff Garrett, of Attwood Marshall, acted for five beneficiaries of the deceased estate.
PropTrack data shows house prices in Currumbin have fallen 4.8 per cent over the past 12 months, to a median of $3.8m.
Article source: www.realestate.com.au