Bidding war for rare ‘inner-city acreage’ on the Gold Coast

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first_img 14 Kingsway Drive, Molendinar. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 2:31Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -2:31 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenIs it a good time to list?02:31A BIDDING war erupted when a rare “inner-city acreage” property went under the hammer last weekend with the buyers splashing $1.23 million to secure their dream home.Auctioneer David Holmes, of Metro Auctions, took the property at 14 Kingsway Drive, Molendinar to auction on Sunday. 14 Kingsway Drive, Molendinar.More from news02:37International architect Desmond Brooks selling luxury beach villa7 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day agoMs Stewart said the buyer was from the Gold Coast and was determined to own the five-bedroom three-bathrom house on 0.5ha property.“There were two bidders who both really wanted the property,” she said. “The buyer said to me (after the auction) that if the other bidder wasn’t bidding she wouldn’t have paid that.” 14 Kingsway Drive, Molendinar. “At $960,000 we stopped for instructions from the owners and the property was called on the market at $1.006 million,” he said.“We continued the bidding in $2500 and $5000 increments all the way until $1.23 million. It was $224,000 since it was announced on the market.” He said feedback from prospective buyers before the auction had been below the $1 million mark. “Feedback was at $850,000 so we ended up with quite an extraordinary result,” he said.Karen Stewart and Edward Smyth of Stewart and Smyth Estate Agents handled the marketing campaign which attracted seven registered bidders. Auctioneer David Holmes of Metro Auctions, took 14 Kingsway Drive, Molendinar to auction on Sunday. 14 Kingsway Drive, Molendinar.Ms Stewart said there were plenty of cash buyers ready to snap up Gold Coast property.“When a rare property comes on the market and it’s a good piece of real estate you will always find competition,” she said.last_img

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