An island home near the Sunshine Coast fetched a record-breaking $2.65 million at a recent online auction.
The property at 24 Stirling Castle Drive, Orchid Beach, on the northern tip of K’gari, set a new residential sale record for the area.
The property spans a 2143sqm parcel and comprises two fully self-contained residences – Grandview and The Sands – offering eight bedrooms and five bathrooms combined. The homes can accommodate up to 26 guests and were generating close to $200,000 a year in rental income.
Seven bidders registered for the auction and six competed actively, with interest spanning from Western Queensland to the United Kingdom. Every registered bidder was an investor.
The listing stated Grandview rented for $3600 a week and The Sands for $1850 a week, with 12 months of forward bookings already in place, including repeat family bookings that had returned to the same week each year for more than a decade.
The sale was offered on a walk-in walk-out basis, fully furnished and equipped, allowing the new owners to continue operating the holiday accommodation business immediately.
The property had been owned by the Elwood family for 13 years. It was sold by Ray White Mooloolaba and Ray White Kawana Waters agent Kirstin Cowie, alongside co-agent and auctioneer James Goldsworthy.
Mr Goldsworthy said the auction result showed investors were still prepared to move decisively for high-quality assets.
“There has been a lot of noise lately about investors stepping back and confidence falling away,” he said.
“This auction told a very different story.
“Seven investors registered, six fought hard for the property and the buyer pool came from right across the country and as far as the UK.
“That doesn’t happen by accident, it happens when you create genuine competition through a transparent auction process.”
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The real estate agency had seven agents in the room working the phones, supporting bidders and helping people make confident decisions in real time.
Mr Goldsworthy said the scale of forward bookings and the established nature of the accommodation offering had also attracted strong investor interest.
“The Elwood family entrusted us with a property that has been part of their world for 13 years,” he said.
“Setting a K’gari record on their behalf is an outcome we are incredibly proud of.”
