100% Locally Owned, Independent and Free

100% Locally Owned, Independent and Free

Cashed-up buyers pounce on Sunshine Coast property's 'holy grail' - beachfront land

Do you have a news tip? Click here to send to our news team.

Berms, seawalls and more considered for beach suburbs

Sunshine Coast Council is examining the potential for revetment walls, landscaped berms, seawalls and raised open spaces and roads for four coastal communities. Investigations are More

Restaurant workers allegedly underpaid

The Fair Work Ombudsman has started legal action alleging workers in a restaurant chain  in Sydney, Brisbane and the Sunshine Coast were underpaid almost More

‘Phenomenal’ property combines acreage and town living

An “immaculate” property nestled on a sprawling block close to town is being hailed as a “phenomenal one-off”. Offered for sale for the first time, More

Photo of the day: sunset silhouette

Angel Cooke, 11, took this photo of her brother, RJ, 5, on her father's iPhone 14 Pro Max as the sun was setting. If you More

B2B: How to avoid the ‘bank loyalty tax’

For most of us, it’s been a while since we reviewed our home loan. Our financial position, including our borrowing capacity, has likely changed. A More

‘Very proud’: whisky and steak bar owners announce closure

A restaurant known for its large selection of whisky and chargrilled meats and seafood will close its doors after nearly a decade. The vision of More

Vacant beachfront land on the Sunshine Coast is a very rare commodity these days and it edged even closer to extinction after two prime blocks were snapped up.

After 37 years of ownership, 26 Park Crescent, Sunshine Beach, sold at auction for a whopping $7,050,000.

With the team at Tom Offermann Real Estate at the helm, the bidding was competitive from five to six million, then through a semi-private negotiation the buyer and seller agreed and the property was sold publicly to local purchasers in front of a gasping crowd.

The land was 531m2 of absolute beach frontage with filtered views through the trees to the sand and crashing waves below. Just amazing real estate.

Exactly one week earlier, 54 Beachway Pde, Marcoola, (below) was sold at auction for $1,300,000.

Get more local stories direct to your inbox by subscribing to our free daily news feed: Go to SUBSCRIBE at top of this article to register

The vacant land was a flat 800m2 with only the coastal reserve and walkway between it and the sand.

The team at North Shore Realty rallied double digit bidders for the auction.

The bidding was kicked off at $600,000 with constant bidding to $1.1m. Then, again through semi private negotiations, the property was sold in front of a patient midday crowd.

Important to note, in both negotiations the successful buyers were prepared to go well in excess of the rest of the market when the bidding stopped to secure the properties through a private negotiation.

Two markets, 30km apart, both have unique qualities, $5,750,000 difference in price outcome. Both buyers were local.

This weekend the sold rate at auction was 72 per cent with an average of four registered bidders per auction.

In the current real estate climate sellers are being richly rewarded on auction day because the market has the ability to fully compete for the property.

Gordon Macdonald, founder of The Auction Group, has been calling auctions on the Coast for more than a decade after an earlier career in real estate sales. His weekly auction wrap-up for sunshinecoastnews.com.au each Monday will be compulsory reading for anyone interested in the hottest sales and latest tales from the property frontline.

STAY TUNED to sunshinecoastnews.com.au and we will keep you up to date with the latest property news.

Get more stories like this direct to your inbox by subscribing to our FREE daily news feed: Go to SUBSCRIBE button at top of this article to register.

Subscribe to SCN’s free daily news email

Hidden
This field is for validation purposes and should be left unchanged.
[scn_go_back_button] Return Home
Share