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
Situated on 405m2 of prime Miami beachside land, this bespoke coastal family residence offers elegant design and the opportunity to generate a lucrative year-round rental return via Airbnb. The recently renovated home sprawls 2 levels with 5 oversized bedrooms, 3 bathrooms and plenty of storage throughout.
Auction on-site Sunday 14 February at 11am
This modern coastal residence leaves little for a new owner to do but unpack and lap up life inside the Gold Coast’s hottest beachside postcode. Tucked away in a peaceful pocket off Nineteenth Avenue, a five-minute drive will land you at the beach, Tallebudgera Creek or with coffee in hand strolling the popular Palm Beach cafe and dining strip.
Auction Sunday 21 February 2021 at 10am
Offered to the market for the first time in 20 years, this is a truly rare opportunity to secure a premium Main Beach penthouse with superb 360-degree views with all the perks of Tedder Avenue, the beach and Marina Mirage right on your doorstep.
Auction onsite Sunday 28 February at 11am
Set back from the road in a quiet, sought-after pocket of Mermaid Beach, this unassuming split-level house on a prime 405m2 block is just 270 meters from the beach and bursting with potential for a new owner to make their mark or landbank for future growth.