Riverfront manor lands street record after split sale campaign

The riverfront home at Carrara
A RIVERFRONT manor at Carrara has sold for $5.5 million after a bizarre attempt to market the sprawling property with two separate auction campaigns fell flat.
The owner of the estate at 1-2 Witt Ave engaged two different agencies to market each of the property’s titles, including one with the seven-bedroom home, and the other with a tennis court and garage.
The smaller 736sq m lot at no.1 marketed as “waterfront land” by Harcourts Coastal agent Grant Stephens passed in at auction.
Mitch Palmer and Matt Hughes, of Ray White Broadbeach Waters, were tasked with marketing the house on a 2,300sq m lot at no.2, but secured a buyer who purchased both titles together.
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“The vendor was splitting the titles up and giving it to two different agents, but as it turns out the best buyer in the market wanted the property as it was originally and I’ve now sold both lots combined to that one buyer,” Mr Palmer said.
Sale prices were recorded as $4.5m for the larger title, and $1m for the smaller one.
The vendor, Rowan Isaacs, pocketed capital gains of $400,000 after purchasing the estate for $5.1m in July last year.
“That was a very strong result, given the market is supposedly softening. But the prestige market has not really been affected by rising interest rates, and our buyer was planning a renovation to make this a very special home.”
It faces north to Main River
And is set among manicured tropical grounds with a tennis court
Mr Palmer said 41 groups had inspected the home over three weeks, with the vendor accepting the buyer’s offer ahead of the scheduled auction for no. 2.
It was the highest sale price ever recorded for Witt Ave, a prestigious address offering wide north-facing frontage to Main River.
The stately two-level home has tall french doors and windows plus wraparound balconies with panoramic skyline views, while there’s entertaining terraces on all sides and a lagoon-style pool and spa at the water’s edge.
Each of the large bedrooms has an ensuite, and the property is suitable for dual living with two kitchens, two laundries, multiple living and dining areas, and a triple garage.
Other features include a 10-person lift, marble staircase, gym and games room, while the modern kitchen has stone benchtops.
French doors and windows allow maximum light in
Chandeliers and ceiling roses in the lounge

The post Riverfront manor lands street record after split sale campaign appeared first on realestate.com.au.

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