Beachfront property goes for a record $3.54 million
A BEACHFRONT Currumbin property has sold for $3.54 million, the highest amount paid for a waterfront property.
The property on 784 Pacific Pde sold at auction last Sundayand real estate agency DJ Stringer said it had received an unprecedented number of enquiries about the commercial and residential property.
"The property had almost 1500 hits on the website as well as 120 direct enquiries, which is well above the norm," said DJ Stringer Property Services principal David Stringer.
"On auction day, over 100 people attended the auction while 17 registered bidders engaged in a bidding war which raised 38 bids from the sand,"
Mr Stringer said the interest in the property indicated beachfront living was blessed with resurgence in popularity.
"The record bidding and interest in this auction is a clear indication that top end beachfront property is back in vogue on the Gold Coast," he said.
"The proud local buyer of this property intends to hold the property as a commercial investment with the potential to use the residence for family vacations."
The double level mixed-use property sits on an 810 sqm block, comprising a newsagency general store, a fashion boutique and a holistic healing practice, below a two bedroom unit.
Mr Stringer said that the rebounding market was presenting some great value deals for potential buyers.
"As we continue to see the market rebound, we only expect to see investor interest grow and property prices rise," he said.
The property currently yields $117,000 gross income a year, with current tenants under a lease that expires in 2014.