A disputed 40ha beachside property on Noosa’s north shore has sold for more than $16 million, after dozens of bids at auction.
No.337 Teewah Beach Road, which has 450m of beachfront, was subject to a Supreme Court order and was offered for sale by Glenn O’Kearney of GT Advisory and Consulting and Tim Elliott of Bell Legal as statutory trustees.
The property was marketed by RWC Special Projects agents Mark Creevey and Tony Williams, in conjunction with RWC Noosa and Sunshine Coast agents Paul Butler and Paul Forrest.
The parcel of land attracted plenty of interest, recording nine registered bidders.
Ray White Queensland chief auctioneer Gavin Croft called the auction and bidding started at $4 million, with 41 bids in total.
Mr Williams said the rare property attracted “heated” bids.
“Rarely does an opportunity arise to purchase a 40ha parcel of land with an expansive stretch of absolute beach frontage on the Sunshine Coast, within close proximity to one of Australia’s most popular lifestyle and holiday destinations,” he said.
“We had a lot of interest in the lead-up to the auction, including interstate interest and offshore interest.
“Bidding starting at $4 million and was called on the market at $7 million before skyrocketing to $16.2 million with heated bidding.
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“This was a fantastic result for such a rare parcel of land.
“It’s not every day you see such a large parcel of Noosa’s north shore come to market.”
A Supreme Court finding delivered by Judge Tom Sullivan on January 10 outlined the complex history of the property.
It was reportedly sold to the half-owners of the property who forced the statutory sale through the courts.
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