Beachfront prize home’s shock $2.7 million price drop

14A Darwalla Avenue, Currumbin.
A SPECTACULAR beachfront prize home has been pulled from auction and instead listed with a price tag of $7.9 million — $2.7 million less than the property’s value when the winner took the keys six months ago.
The luxury four-bedroom, two-bathroom property on the sand at Currumbin Beach was scheduled to go under the hammer on Saturday following a marketing campaign by Ed Cherry, of Harcourts Coastal.
It had been valued at $10.6m by the RSL Art Union and promoted as the ultimate beachfront prize home drawn in October 2022.
The property is one of only ten absolute beachfront homes in Currumbin
The property was due to go under the hammer on Saturday
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The winner of the home at 14a Darwalla Ave was a 37-year-old Brisbane delivery driver.
Mr Cherry said the campaign backflip just days before the auction date was based on market feedback.
“We have had a number of offers during the campaign, but the ones that supeceded the others were conditional offers and the feedback we received was that buyers were looking to purchase with caution based on interest rates,” Mr Cherry said.
“We have a motivated seller who is happy to meet the market, and the decision to price the property was made in order for us to execute the best campaign for our vendor.”
Mr Cherry said the home, named ‘Play On’, was one of only ten absolute beachfront homes in the coveted southern Gold Coast suburb.
The contemporary home has three storeys
Wide balconies capture incredible ocean views
“Darwalla Ave is the most exclusive street in Currumbin — it’s super rare for anything to come up for sale there,” he said.
“At a time when the hardest thing now is to acquire a builder, this is a sophisticated newly built luxury home with incredible ocean views from Surfers Paradise to Rainbow Bay which will never be built out.”
Built by Makin Constructions and designed by Habitat Studio Architects on a 535sq m lot, the three-storey contemporary home has floor-to-ceiling glass and wide balconies allowing views to take centre stage.
Features include custom cabinetry, timber floors and exposed beams, plus a furniture package worth $320,000 included.

The post Beachfront prize home’s shock $2.7 million price drop appeared first on realestate.com.au.

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