The sale of an estate in Adelaide’s north is proof that it can be worth putting a property up for auction in early January.
Despite the online auction being held in the first full week of the new year, the 5.06ha Kudla estate at 4 Gordon Rd sold under the hammer for $5,627,500.
Sales agent Darren Pratt, of Ray White Barossa Valley/Two Wells, said a developer bought the property, which was in a fast-growing area of Kudla.
“The area is highly sought after due to its large allotments, horse-friendly zoning and strong demand driven by continued residential expansion,” he said.
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The Kudla property at 4 Gordon Rd sold in the first full week of January for $5,627,500.
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It includes a four-bedroom house built around 1900.
“With easy access to shopping centres, schools and leisure facilities, the location supports both lifestyle appeal and long-term capital growth.
“Many properties are being purchased there for future development.”
The large property includes a house built around 1900 with four bedrooms and two bathrooms and can be reached via three roads,
Mr Pratt said there had been a lot of interest in the run-up to the auction, with 87 inquiries during the campaign and nine potential buyers registered to bid on the day.
The online auction was competitive, he said, and more than 500 bids were placed before the hammer fell.
“The bidding started slowly, we had nine registered bidders and all nine bid,” he said.
“Even when we got close to the reserve price, one of the bidders made an offer of $500.
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The auction took place online.
It is located in a fast growing district of Kudla.
“We had one bidder make a bid of $25,000 and another bid for $25,500, another bid for $50,000 and another bid for $100,000. It was really interesting and there was a lot of involvement.”
Mr Pratt said the buyer was working during the auction and at one point jumped into a lift to get between meetings, which they would not have been able to do if the auction had not been helped online.
He said the sellers, two friends who bought the property together, were happy with the outcome.
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