An unassuming home on the Sunshine Coast has been sold for more than three times the expected price, after an intense bidding war at auction.
No.43 Hinkler Parade at Maroochydore was among 17 properties on offer at an annual auction event hosted by Ray White Mooloolaba, Kawana Waters and Nambour.
The event drew a crowd of more than 100 people to the Lakehouse in Brightwater.
The sale of five properties was negotiated before auction and seven sold under the hammer, culminating in a 71 per cent success rate.
The wide selection of properties drew local and national attention but No.43 Hinkler Parade really piqued the interest of serious investors and developers.
The property, which had been held by one family for more than 50 years, is one of the few remaining original Cotton Tree homes.
While it appears to be a modest home, it is in prime position: close to the esplanade at Cotton Tree, parks, cafes, bars and restaurants. It’s not far from beaches, the city centre and shopping centres.
It sits on a 678sqm parcel of land zoned medium density.
Auctioneer and director of Ray White Mooloolaba James Goldsworthy said the property appealed to plenty of people.
“Hinkler Parade presented many different opportunities with both mum and dad investors, first-home buyers and savvy investors/developers showing interest,” he said.
“We had over 3000 buyers view the property online and lots of pre-auction interest so we were delighted to secure a fantastic outcome for our seller on the evening.”
The auction received 104 bids, starting at $500,000 and rising at times in $500 increments to an eventual sale price of $1,531,000.
Mr Goldsworthy said it was a rare event.
“In 20 years of real estate and as an auctioneer I’ve never seen anything like it,” he said.
“It was unreal.
“The auction had multiple phases, starting incredibly low, a 21-minute pause as a late bidder arrived mid-auction, and a young lady putting in $1000 bids on multiple occasions right on the fall of the hammer.”
Mr Goldsworthy said the auction event was abuzz with activity.
“Overall, the energy in the room was electric,” he said.
“We are excited to continue negotiations on those properties that came close to selling.
“We are seeing key indicators like buyer traffic, registered bidders and auction clearance rates at or around COVID-19 boom levels, which surprises many but just goes to show the strength of the local market.”
Almost 650 prospective buyers inspected the properties during the marketing campaigns, resulting in 33 pre-auction offers.
The seller, Lionel Griffiths, said he was “ecstatic” with the outcome.
“The whole feel of the auction was amazing: we were laughing and we were crying,” he said.
“Towards the end, I didn’t hear what amount they were bidding, I was too lost. I had to ask how much it actually sold for.”
He said he will miss the property.
“My family had it for over 50 years. I’m going to miss it terribly.”
“It’s right in the heart of everything. A friend of mine said it’s a very easy 10 minutes to everything.”
Meanwhile, a lavish home on the waterfront at Pelican Waters was sold for millions.
No.40 The Passage, with its expansive 60m wrap-around canal frontage, went for $3,855,000.
Auction results
66 Toral Drive, Buderim
- Sold under the hammer for $1.85m
- 5 Bed, 5 Bath, 2 Car, Pool
- Ray White, Gregory Ward and Zoe Byrne
5/13 Pacific Terrace, Alexandra Headland
- Sold under the hammer for $587,000
- 2 Bed, 1 Bath, 1 Car
- Ray White, Will van den Dungen
35 Kurrajong Crescent, Meridan Plains
- Sold prior to auction for $985,000
- 5 Bed, 2 Bath, 2 Car, Pool
- Ray White, Adam Budd
514/5 Bermagui Crescent, Buddina
- Passed in, on the market for $1.985m
- 3 Bed, 2 Bath, 2 Car
- Ray White, Ryan Bradeley
8 Samuel Place, Mooloolah Valley
- Sold prior to auction for $1.03m
- 4 Bed, 2 Bath, 2 Car
- Ray White, Matt O’Grady and Alisha Galea
43 Hinkler Parade, Maroochydore
- Sold under the hammer for $1.531m
- 3 Bed, 2 Bath, 1 Car
- Ray White, Alex Dennien and James Goldsworthy
6/17-19 Brisbane Road, Mooloolaba
- Sold post auction for $630,000
- 2 Bed, 1 Bath, 1 Car
- Ray White, James Goldsworthy
71/99 Birtinya Boulevard, Birtinya
- Sold prior to auction for $600,000
- 2 Bed, 1 Bath, 1 Car
- Ray White, Dan McNamara
20 Jacaranda Drive, Mooloolaba
- Sold under the hammer for $1.865m
- 4 Bed, 2 Bath, 2 Car
- Ray White, Brent Higgins
53/12 Bright Place, Birtinya
- Sold under the hammer for $605,000
- 2 Bed, 2 Bath, 1 Car
- Ray White, Ryan Bradeley
331 Bradman Avenue, Maroochydore
- Sold under the hammer for $1.08m
- 4 Bed, 2 Bath, 2 Car
- Ray White, Dan McNamara
19 Koorin Drive, Buddina
- Sold under the hammer for $1.21m
- 4 Bed, 2 Bath, 2 Car, Pool
- Ray White, Ryan Bradeley
85 Apple Gum Place, Palmview
- Passed in, now on the market for $2.4m
- 7 Bed, 4 Bath, 4 Car, Pool
- Ray White, Dan McNamara
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