Local bidder secures prime Burleigh Heads hilltop holding
February 8 2021
A prime hilltop holding overlooking Burleigh Heads and the Pacific Ocean attracted fierce competition at auction yesterday before selling under the hammer for $4,600,000.
A huge crowd turned out under sweltering conditions to watch the auction of 99 George Street West, Burleigh Heads which was put to market for the first time in 31 years.
There were 18 bidders registered for a tilt at the much-loved home perched on two titles totalling 1016m2, making it the largest holding on the hill with the highest vantage point.
With temperatures pushing 30 degrees, bidders and spectators vied for shade on the back lawn where a spectacular northerly vista spans right along the Gold Coast coastline.
Bidding opened at $1,800,000 with auctioneer Justin Nickerson maintaining momentum to $3,400,000 before the auction took a pause pending direction from the vendors.
Lengthy negotiations led the auction to resume with a final bid of $4,600,000 enough to hand the keys to a local buyer from Mermaid Beach.
Agent Eoghan Murphy and Michael Kollosche led the 27-day campaign which attracted 214 inquiries and saw 106 people inspect the property ahead of the February 7 auction.
Mr Murphy says a lack of comparable properties on the market made it a challenge for both the buyers and the vendor to put a price on such a rare offering.
“Interest was really high across the campaign and there were multiple bidders still active above the $3,000,000 mark,” says Mr Murphy.
“Properties of this size, in this location are so rare in today’s market that buyers know they have to do what it takes to get a deal over the line.”
Last on the market in 1989, the property has been a home and holiday retreat for three generations of the same family who treasured the views and proximity to James Street and Burleigh Heads.
Auction on-site 12 February 2021 at 4pm
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Auction on-site Sunday 14 February at 11am
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Auction Sunday 21 February 2021 at 10am
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Auction onsite Sunday 28 February at 11am
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