233 Jefferson Lne, Palm Beach
An absolute beachfront shack has sold under the hammer for $6.3 million, with heated bidding stretching to more than two hours as it went to auction for the second time this year.
It was the Coast’s richest sale of the week — but $950,000 less than the vendors’ last asking price, while they were offered $6.65m cash following the first auction in March.
The character-filled property, known as the Palm Beach Bungalow, occupied a prized 413 sqm lot at 233 Jefferson Lane, Palm Beach and was marketed by Amir Prestige principal, Amir Mian.
Owners Annabelle and Rory Galligan purchased the 1960s fibro cottage for $5.4m in December 2021 and rebuilt it from the original hardwood frame over six months, adding in another level of living space below.
Palm Springs-inspired interiors
More living space downstairs
Mr Galligan is the founding director of Fine Line Commercial, a plastering and carpentry company with high-end projects including Brisbane’s Queen St Wharf and the luxury 272 Hedges tower at Mermaid Beach.
The couple, who have completed several personal renovation projects, first listed the bungalow with Troy Dowker, of Kollosche, but it passed in at auction in March this year.
Mr Dowker said the vendors turned down a $6.65m cash unconditional contract.
The Galligans took the property off the market briefly and revamped its tropical Palm Springs aesthetic with a sophisticated neutral look, but retained the signature mint-green exterior, patterned wallpaper and pink bathroom.
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The four-bedroom, two bathroom home was relisted via private treaty in July with Mr Mian at $7.25m, but the price guide was withdrawn in accordance with Queensland legislation when it was decided to set another date for auction instead.
Multiple bidders contested the public auction, including buyers who had flown in from interstate. A southeast Queensland-based buyer was successful.
Mr Mian said the sellers did not wish to disclose further details of the sale, but said the property fit the brief for buyers drawn to the southern Gold Coast’s laid-back lifestyle.
32 Amalfi Dr, Isle of Capri
The riverfront trophy home was designed by Jared Poole
“Not everyone wants a mansion. They want the simple beach lifestyle, but they also want to live in modern comfort and that is what this offered,” Mr Mian said during the campaign.
“By no means is it a knockdown, but there is certainly also future potential and these absolute beachfront homes rarely come to market because they are so tightly held, so that is very attractive to owner-occupiers.”
Amir Prestige group sold 6 of 7 properties which went to auction over the weekend, including a glamorous riverfront home on a 693 sqm lot at 32 Amalfi Dr, Isle of Capri.
The four-bedroom, three-bathroom Jared Poole-designed property sold for $6.3m.
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