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Neighbouring blocks hitting the market for the first time in 100 years fetch stunning sum

By Holly Darwon

TWO properties, side-by-side, held in the same family for over 100 years, fetched a phenomenal sum at auction. Here’s your exclusive peek into how it went down from the auctioneer Haesley Cush’s perspective:

LAST weekend with the sun high in the sky over the Gold Coast, I fastened my 1920s fashioned Akubra and took my position on the front lawn of 630 Pacific Parade at Tugun.

On the day I was commissioned to auction 630 Pacific Parade and then immediately followed by 628 Pacific Parade Tugun.

These properties were located in an extremely tightly held enclave locally known as ‘flat rock’ in a cul-de-sac street sweetly positioned on the shoulder of Currumbin.

The beachfront properties were part of a family estate that had been held for circa 100 years. The grandfather had originally purchased the entire street and had slowly given them away or sold them off over the 100 years.

As you would expect there was a huge crowd. The coast had turned it on, with crystal clear waters and bronzed surfers shredding the epic surf across the street.

People stood on the footpaths, the streets or found a space on the block at 630 where I had set myself up to call both auctions. I called 630 Pacific Parade first because it was the one with the most interest.

Bidding opened in the high $1millions and quickly pushed through $2m. “$2.1” said a buyer, “$2.2” came the reply. I called the property on the market at $2.35m.

More buyers entered the bidding. “$2.4”, “$2.45” the bids started to roll in with some momentum. As with most auctions the bidding came down to two final bidders, selling to a young couple for $2.6m.

As the applause settled, there was no time to waste as I belted straight into 628 Pacific Parade. We moved through the formalities and within minutes we were back into it.

The similar faces, bidding cards, were back passionately calling out the same numbers as before. “2”, “2.1” they fired back and forth. At about “$2.35” we again started to stall, but fortunately we pushed on (much to the relief of the new owner of 630).

With two parties slogging away, the bidding reached fever pitch at $2.6. “$2.605” was the call from an exhausted bidder who was now two auctions deep. “2.615!” came the reply. That was the final call and the final blow. 628 selling under the hammer for $2.615m.

As I shook the hands of the successful buyers and hugged the owners, I tried to cast my mind back 100 years and think about the day the original had bought the land. Did he anguish over the few extra quid? I’m sure he could never have imagined that a small parcel of his original land would have sold for $5.215m.

To read the entire article, please follow the link below

https://www.realestate.com.au/news/neighbouring-blocks-hitting-the-market-for-the-first-time-in-100-years-fetch-stunning-sum/

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