A ‘little tiny’ seaside cottage has broken sales records after its owners refused offers for decades before finally deciding to put their property on the market.
The three-bedroom home on Mcilwraith Street in Moffat Beach, on Queensland’s Sunshine Coast, fetched $6.72million at auction on Saturday.
About 80 people crammed into the home’s small living area to begin bidding at $3.5million.
The trustees of the home had knocked back offers over several decades before finally deciding to sell.
Property records show no other residential property in the suburb has sold for a higher price.
The only purchase coming close was that of a home two doors down from the cottage, which was snapped up by the RSL for $6million two years ago.
David Millar Real Estate head David Millar said homeownership on Moffat Beach has become a top status symbol among Queenslanders.
‘Anybody who’s anybody now wants to be associated with the Moffat Beach precinct,’ he told realestate.com.au.
The home was marketed as an opportunity for developers but will remain a residential property
The A-frame cottage was built in 1970 on a 506sq metre block.
Its street has long been coveted for its uninterrupted ocean view and easy access to Moffat Beach.
‘This has unlimited northern views and no traffic between it and the ocean. Unique property is very much moving here,’ Mr Miller said.
About six of the street’s original homes remain, but both of the cottage’s neighbours have been settled for several years.
‘There is a four year old house to the east and an older, renovated, large residence to the west of it,’ Mr Miller said.
The home was initially marketed as a development opportunity to be turned into units, but the young couple who bought it have decided to keep it as a residential lot.
Its ad declared it a ‘one-in-a-lifetime opportunity’ for investors.
‘Opportunities like this are few and far between in this exclusive precinct, renowned for its breathtaking scenery and vibrant coastal lifestyle,’ it read.
‘Unrivalled investment potential, with strong prospects for capital appreciation in this tightly held location.
‘Whether you’re an astute investor, a developer with vision, or a homeowner dreaming of a seaside escape, this property presents endless possibilities.’
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