Currumbin beachfront hut sells for $8.25 million after dramatic last-minute bid – realestate.com.au

A beachfront hut on a double block has sold for a whopping $8.25 million after a last-minute overseas phone call sparked a drama-filled auction.

The buyer of the Gold Coast property had not initially registered to bid, but called when proceedings were halted due to tense closed-door negotiations with two of the other bidders and ultimately scooped the trophy.

Kollosche agent Troy Dowker said the rare 883m² beachfront plot opposite the sand at 756-758 Pacific Pde, Currumbin had been owned by three generations of the same family since the 1940s.

A rare beach holding on a double block

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Auctioneer Justin Nickerson made an opening bid of $6.5 million, which was raised to $6.8 million before the auction stalled.

Six bidders registered, four of which were active.

Mr Dowker said negotiations with the two highest bidders lasted more than an hour, allowing the buyer, an Australian traveling abroad, to act once a bid of $8 million was reached.

It is owned by three generations of one family

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“It required very sharp negotiating skills,” Mr Dowker said.

“We initially took the highest bidder, who didn’t really have any momentum, so we went to the other bidder, after which another interested party from abroad eventually had a late registration and wanted to bid.

“Sometimes people will sit on the sidelines and wait to see where the interest lies, and if they see value, they will jump in.”

Although the site had 20 meters of street frontage and was zoned as medium density residential, it had some limitations that made it less suitable for developers.

The side terrace and balcony offer ocean views

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“But given the breadth, the two titles and the location, there was plenty to enjoy,” Mr Dowker said.

The buyer had no immediate plans, but was expected to build one or two luxury homes.

The existing house, built in the 1950s, had five bedrooms and two bathrooms, with a front balcony and a side patio with ocean and breeze views, along with two single garages.

Mr Nickerson said it was “a hard-fought auction after long negotiations”.

PropTrack data shows that house prices in Currumbin have risen by 11.8 per cent over the past 12 months to an average of $1,795 million.

Inside the beloved coastal house

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The house was largely in its original state

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