The ground floor apartment at 1/64 Mark Street, New Farm in Brisbane sold for $600,000.
Despite not having a balcony or courtyard, a boutique apartment in Brisbane has sold for $600,000 to a buyer who searched for more than two years.
The buyer secured the 450 sq ft, one-bedroom apartment at 1/64 Mark Street, New Farm, just two days before the property was set to go under the hammer.
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1/64 Markstraat, Nieuwe Boerderij.
The property, which is in a complex of six people, has no external living space: no balcony or courtyard.
Ray White Collective agent Nick Mogridge, who marketed the property, said he was not surprised the apartment sold ahead of the auction.
“The ground floor home never made it to auction, with the local buyer falling head over heels in love with the property’s potential and prime location in one of Brisbane’s most enviable lifestyle precincts,” Mr Mogridge said.
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1/64 Markstraat, Nieuwe Boerderij.
“This buyer had been looking for over two years, and the moment they walked through, that was it.
“Sometimes a building just speaks to you, and this screamed from the rooftops – or in this case from the ground floor.”
“Despite the absence of external living space, the boutique appeal of the property proved irresistible.”
Mr Mogridge said about 25 people walked through the property over a two-week period.
“New Farm remains that golden postcode where lifestyle meets location,” he said.
“For first-home buyers in particular, it’s about gaining a foothold in a suburb where they might otherwise be overpriced.
“It is a classic renovation option.
“Keep the warmth and character, add a contemporary touch and you have a seriously stylish New Farm pad.”
PropTrack data shows the median value of apartments in New Farm is $931,250, up 4.6 percent over 12 months, while the median value for a one-bedroom apartment in the suburb is $637,500, up 12.8 percent over 12 months.
The highest sale price in New Farm is $20.5 million, paid in 2023 for the riverside property, ‘Amity’, on Welsby St.
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