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Auction action: riverside property once worth hundreds now worth millions

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A riverside property once bought for a pittance has sold for millions of dollars.

It’s believed the 546sqm block was initially purchased for $386 in 1966 and, after staying in the same family for six generations, the land and its original home was sold for $3.3m.

The home was sold well above the undisclosed reserve price, by HOME’s Rebecca Fletcher and Alan Riley.

Located at 14 Harbour Parade, in Buddina’s tightly held ‘Golden Triangle’, the property fronts the Mooloolah River and popular La Balsa Park.

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“It was pouring rain, but it was a great auction,” Mr Riley said of the Sunday event that still attracted nine registered bidders and a large crowd.

“It’s an original home – I guess it’s a knockdown – so this was land value fetching a street record.”

The house had been used as a holiday home. It’s unclear what the new owners, who are local, will do with their new property.

“I think they’re going to sit on it and hold it for a bit,” Mr Riley said.

The property is in prime position by Mooloolah River.

The location was a huge selling point.

“It’s about the best spot on the Sunshine Coast,” Mr Riley said.

“Buddina, La Balsa Park and the harbour … it’s pretty special, and properties don’t come up that often at Harbour Parade anymore.”

Mr Riley said there was still strong competition for properties in great locations, despite a nationwide slumping of property sales prices.

“The last one along here (No. 9 Harbour Parade) sold for (a then street record) $2.4m last year, and it was comparable. That was in a hotter market than we’ve got now, but this property still sold for a million more,” he said.

“So, the properties there, are more and more sought after.”

Mr Riley said the property was purchased by the original owner for just $386 in 1966.

“It was one of the first that was bought along there,” he said.

“The house was built, and it was one of the first in the suburb, and it’s been a holiday home since, and the family has held it for almost six decades.”

The high-set three-bedroom, two-bathroom home boasts plenty of character but it’s likely to be substantially revamped or knocked down to make way for a new building.

The amazing view from the property.

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Auction results

10 Bellbird Court, Wurtulla

  • Negotiation ongoing post Auction
  • 5 Bed, 2 Bath, 2 Car, Pool
  • Adams & Jones, Karen Jones

5 Antigua Court, Kawana Island

  • Sold prior to auction for $2.8m
  • 5 Bed, 4 Bath, 3 Car, Pool
  • Adams & Jones, Karen Jones

10 Roberts Street, Palmwoods

  • Sold under the hammer
  • 4 Bed, 2 Bath, 3 Car
  • Define Property, Ross Cattle

6 Tamarind Street, Meridan Plains 

  • Passed in, contact agent
  • 4 Bed, 2 Bath, 4 Car
  • Define Property, Ross Cattle

19 Surf Road, Alexandra Headland 

  • Sold for $1.5m.
  • 3 Bed, 2 Bath, 2 Car.
  • Home Sunshine Coast, Kate Jewry & Jay Sherwell.

14 Harbour Parade, Buddina 

  • Sold for $3.3m.
  • 3 Bed, 2 Bath, 2 Car.
  • Home Sunshine Coast, Rebecca Fletcher/Alan Riley.

34 Gloucester Road, Buderim

  • Auction postponed.
  • 4 Bed, 3 Bath, 4 Car.
  • Next Property, Richard Scrivener/Loren Wimhurst.

60 Oloway Crescent, Alexandra Headland

  • Passed in, now listed at low $2m, contact agent  .
  • 4 Bed, 2 Bath, 2 Car.
  • Next Property, Kristen New/John Skerlak.

29 Neerim Drive, Mooloolaba 

  • Sold for $6.75m.
  • 4 Bed, 5 Bath, 3 Car.
  • McGrath, Geoff Ohmsen/Damien Michael.

6 Booral Street, Buderim 

  • Sold prior to auction for an undisclosed amount.
  • 4 Bed, 3 Car, 3 Car, Pool.
  • The Agency, Dan Smith.

183 Mons School Road, Buderim 

  • Sold for $910,000.
  • 4 Bed, 2 Bath, 2 Car.
  • The Agency, Dan Smith.

7 Chiswell Place, Maroochydore 

  • Sold under the hammer for $2.335m.
  • 4 Bed, 2 Bath, 2 Car.
  • Young Property, Greg Young/Mike O’Brien.

33 Dicky Beach Close, Dicky Beach 

  • Passed in and under negotiations, now listed at $1.05m.
  • 4 Car, 3 Bath, 2 Car, Pool.
  • Ray White, Andrew Garland.

68 Plantation Rise Drive, Woombye

  • No auction took place.
  • 5 Bed, 2 Bath, 3 Car.
  • Ray White, Robert & Sally Horne.

08/16 Marjorie Street, Mooloolaba 

  • Sold prior to auction for $935,000.
  • 2 Bed, 2 Bath, 1 Car.
  • Ray White, Pam Thomas/Megan Murray.

41 Yorlumbu Parade, Maroochydore 

  • Sold for $1.595m.
  • 4 Bed, 2 Bath, 4 Car.
  • Ray White, Jason Mills.

64/07 Grand Parade, Parrearra 

  • Sold prior to auction for $750,000.
  • 2 Bed, 2 Bath, 2 Car.
  • Ray White, Will van den Dungen.

18 Balemo Street, Minyama

  • Auction didn’t take place, now listed at $850,000.
  • 4 Bed, 2 Bath, 2 Car.
  • Ray White, Brent Higgins.

75/101 Birtinya Boulevard, Birtinya 

  • Sold under the hammer for $481,000.
  • 2 Bed, 1 Bath, 1 Car.
  • Ray White, Taylor Sierp.

707/06 Wharf Street, Maroochydore 

  • Sold under the hammer for $1.92m.
  • 3 Bed, 2 Bath, 2 Car.
  • Ray White, Niall Molloy.

72 Osborne Circuit, Maroochydore 

  • Sold under the hammer for $1.12m.
  • 4 Bed, 2 Bath, 2 Car.
  • Ray White, Sarah-Louise Anderson.

9 Lacewin Drive, Sippy Downs 

  • Sold prior to auction for $890,000.
  • 4 Bed, 2 Bath, 2 Car.
  • Ray White, Dallas Foster.

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