Late race car legend’s home still on the market amid slow day of auctions

The breathtaking Gold Coast penthouse, once owned by the late Sir Jack Brabham, failed to sell at auction on Saturday with agents now taking expressions of interest.

It may not be surprising to some, with auction volumes remaining low this week as a result of the upcoming public holiday on Monday in Queensland, New South Wales, the Australian Capital Territory and South Australia.

According to Domain’s latest data, last Saturday’s auction results saw a clearance rate of 21.4 per cent for the Gold Coast.

However, volumes are expected to rise in the coming weeks as we head towards the middle of the busy spring selling season.

The penthouse at 108/21 Bayview Street in Runaway Bay is on the market for the first time in 20 years. According to PriceFinder, it last sold for $1,625,000 in February 2001.

The Gold Coast property failed to sell at auction on Saturday, with agents now taking expressions of interest. Photo: Lucy Cole Prestige

Brabham, an Australian racing driver and F1 world champion in 1959, 1960 and 1966, once owned the abode. The sporting legend died in May 2014.

Listed by Lucy Cole Prestige, the penthouse is a sight to behold with incredible coastline views.

The penthouse occupies two levels and boasts a rooftop pool and spacious balcony that’s perfect for entertaining.

Level one contains the open-plan lounge and dining areas, and there’s also a bedroom and ensuite with breathtaking views of the ocean.

The open-plan layout allows for ease of movement and makes the home perfect for entertaining. Photo: Lucy Cole Prestige

The second level contains the remaining bedrooms and ensuites, as well as a lounge and kitchenette, the rooftop pool and a built-in barbecue.

Interiors are modern with whitewashed walls, floor-to-ceiling windows, granite benchtops in the kitchen and top-notch appliances including a Gaggenau oven.

Mixed results across the combined capital cities were felt at Saturday’s auction day, with many properties either getting passed in or selling at their on-market value.

Over in Melbourne’s Hillside, a very modern six-bedroom, three-bathroom family home sold at its on-market value of $1,225,000, strongly hinting at its reserve price.

Over in Melbourne, a trophy home sold at its on-market value, amid Saturday’s mixed auction results. Photo: Barry Plant

The property at 14 Sovereign Way features clean lines, soaring ceilings, generously sized bedrooms, a chef’s kitchen and ample areas for entertaining.

Also in Melbourne, the property at 93A Argo Street in South Yarra was initially passed in at auction for $1.21 million. A sale was agreed for $1.28 million with the buyer after.

Listed by Kay & Burton, the two-bedroom, one-bathroom home had a price guide of $1.2 to $1.3 million.

Matt Davis, Kay & Burton’s senior sales consultant, said the buyer is a “single occupant, relocating from St. Kilda Road and upgrading from an apartment to this beautiful two bed house”.

The charming Victorian residence enhances indoor, outdoor flow and boasts high ceilings, clean lines and timber floorboards.

Despite the slow start to auction day on Saturday, the clearance rate across the combined capital cities is expected to rise in the coming weeks.

According to Domain’s latest data, last Saturday saw an improvement in the combined capitals clearance rate, hitting 60.2 per cent.

This is the highest clearance rate since April and the fourth week in a row of a clearance rate above 55 per cent.

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