816 Pacific Parade, Currumbin
One of the Gold Coast’s oldest family-owned real estate agencies has marked a $5.6 million milestone with the sale of a historic Currumbin property which has served as their office for the past 66 years.
Originally built as a general store in the 1920s, the oceanfront building at 816 Pacific Parade was acquired by Lin Corr for 2,000 pounds in 1957 and has remained in the family since.
Auctioneer Danny Malone fielded bids from two buyers contesting the rare 493 sqm holding comprising a single-storey tenancy with medium-density residential zoning.
Bidding opened at $5.3m, followed by a vendor bid of $5.4m and another bid from the floor at $5.45m. The auction then paused for negotiations, before the hammer fell as the winning buyer increased her bid to $5.6m.
The property was originally built as a general store
Current fitout for Passos Agency
Founded by father-and-son duo Lin and Bruce Corr in 1949, the southern Gold Coast real estate business later traded under a national franchise before relaunching as Passos Agency in 2021.
Principal Alex Passos is married to Tara Passos, Lin Corr’s great granddaughter. The couple has been in the business for 15 years, and Mr Passos’ eldest son Lucas, 26, has also joined the fold, representing the fifth generation of the family.
Bruce Corr worked with the agency until his death in 2022, while his son-in-law David Lawley has notched up 30 years’ service.
Mr Passos, who marketed the property for auction, said the buyer lived locally.
“They love the history of this place as much as we do,” he said.
Pictured L-R in 2022: Lucas Passos, Alex Passos, the late Bruce Corr, David Lawley, Tara Passos
Qld’s most tightly held markets revealed
Riverfront mansion sold for record $24.8m
Buyers splash millions in auction bonanza
Passos Agency is opening warehouse-style headquarters in Currumbin Waters.
“I’m so happy for our new beginnings, but at the same time, after 15 years, I know I’m going to miss it here and the views of course, they are simply irreplaceable,” Mr Passos said.
The property, described as “a significant thread in the cultural fabric of the Gold Coast”, spans 151 sqm of floorspace with an entry foyer, meeting room, multiple office spaces and a kitchenette, bathroom and powder rooms as well as a rear courtyard with parking for seven cars.
Surf checks from the office window
…and parking at the beach!
“Blessed with an important cultural heritage, 816 Pacific Parade presents a once-in-a-generation opportunity to acquire a slice of Currumbin history in one of the area’s most spectacular locations,” the sale listing stated.
“It offers exceptional potential for renovation or rebuilding as a mixed-use facility with offices and the front and a potential one-bedroom residential unit at the rear (subject to council approval).”
The post Fifth-generation property family marks $5.6 million milestone appeared first on realestate.com.au.