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Beachfront Auction Sets a New Benchmark

March 14 2022

The highly anticipated auction of a rare north-east facing double block on Palm Beach’s most sought-after street has culminated in a $13,510,000 sale to a Sydney investor.
Beachfront Auction Sets a New Benchmark

The highly anticipated auction of a rare north-east facing double block on Palm Beach’s most sought-after street has culminated in a $13,510,000 sale to a Sydney investor.

Kollosche Commercial agents Adam Grbcic and Tony Grbcic teamed up with residential agent Troy Dowker to market the blue chip holding at 215-217 Jefferson Lane.

The 817.4m2 corner site with DA approval in place for a nine-storey tower attracted the highest ever volume of interest for an advertised property with Kollosche, with 395 enquiries received in four weeks.

Eleven bidders registered for last Friday’s onsite auction where the action kicked off at $11,200,000, with three bidders still active beyond the $13,000,000 mark.

At $13,510,000, the sale represents $16,536 per square metre (based on total land area of 817m2) which is the highest rate achieved on Jefferson Lane.

The prized parcel is the first north-east facing double block to come to market on Jefferson Lane in more than 20 years – a rare opportunity that wasn’t lost on locals, who represented 9 of the 11 bidders.

The sale is another successful collaboration between Kollosche’s Commercial and Residential divisions whose joint efforts showcased the trophy listing to the widest possible pool of buyers with a powerful campaign across social media, print, email and online platforms.

With more than 1,500 enquiries across their last 10 development site campaigns, Kollosche Commercial has a large database of active buyers. For those in a position to sell, now is the ideal time to reach out to the team for a discussion.

The auction action continues this weekend when Australia’s most-viewed house goes under the hammer at 31 Beaconsfield Drive, Burleigh Waters.

Finished inside and out in Venetian plaster, the one-of-a-kind residence known as Ruin X has attracted national attention in recent weeks for its stunning finishes and holiday-at-home vibe.

Eoghan Murphy and Michael Kollosche will be taking bids onsite this Sunday at 11am.

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