25 Yarraville Street, Robina
A vacant block of land in Robina that caused a huge stir before its auction sold for $935,000, a sum well beyond the sellers’ expectations.
Over 14 minutes, 25 registered bidders including expats living in Hong Kong and London, battled it out for the 637sq m corner plot at 25 Yarraville Street.
Leading up to the sale, punters were trying to speculate on what it would go for with figures of about $800,000 bandied about on social media posts.
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The corner plot was the last remaining vacant and ready to build on piece of land in the suburb, according to Ben Williams of Remax Regency, who co-marketed the property with Andrea Williams.
The young family originally from Brisbane who outbid 24 others to snag the last block in Robina.
In little more than a week it had amassed more than 52,000 views on property portal realesatate.com.au and more than 60 formal inquiries.
Auctioneer Dene Tucker opened the bidding on the weekend at $600,000 with the winning bid placed by a local family.
It is the highest price paid for a block of that size in Robina, but Mr Williams said the family were determined not to be beaten after having lost out on several other properties.
Originally from Brisbane, the family have been renting on the Gold Coast for months while looking for somewhere to buy.
25 Yarraville Street, Robina, caused a huge stir before its auction on the weekend.
“They were extremely frustrated with the buying conditions here, after they missed out on hald a dozen other properties to Sydney and Melbourne buyers,” Mr Williams said. “This time they made it their mission not to lose the battle.”
Mr Williams said the family plans to build their dream home on the block using a local builder, to give back to the local economy.
He said land on the Gold Coast was scarce so a vacant block of land, ready to build on, was particularly appealing to buyers.
“There are houses in the area that are worth the same as what this block sold for, but it’s the Aussie dream isn’t it, to buy a block and build your own home. That’s why I think it was so popular,” he said.
Planned satellite athletes village at Robina for the Brisbane Olympic Games in 2032.
Like most Gold Coast suburbs, Robina has experienced rapid house price growth over the past six to eight months, most recently spurred by the announcement that it will be the site of Brisbane’s outpost 2032 Olympic Athletes’ Village.
“Prices have soared in the suburb,” Mr Williams said. “Twelve months ago I couldn’t give properties away, they were selling for $500,000. Now they’re going for more than $1m,” he said.
“It has never been so hard to buy or rent on the Gold Coast as now. It is a lot of battling and grafting, and with so many southerners and expats still waiting to make the move north, it is only going to continue.”
Local couple, Stuart and Lisa Leo, owned the block for several years.
Originally more than 1,000sq m, the Leos subdivided it and sold a smaller 400sq m portion to a developer in 2019 for $450,000.
The post Local family determined to win battle for last Robina block appeared first on realestate.com.au.