A Brisbane couple have sold their home at auction over the weekend for almost double the price that they had unsuccessfully listed it at four years ago.
The couple sold their five-bedroom house at 46 Shakespeare Street, Bulimba, for $2.975m under the hammer – one of Brisbane’s highest auction results over the past weekend.
Just four years ago, they had tried to sell the home via private treaty, listing it at offers around $1.55m – a price that’s $1.42m less than what they secured at auction now.
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Real estate agent Chris Lawsen of Harcourts Inner East – Balmoral, who marketed the property with colleague Taliah Hodgkinson, said four bidders registered to take a shot at owning the property.
Two of the bidders were local and on site for the auction, one on the Sunshine Coast and the fourth called in from Sydney.
Bidding opened at $2.55m, Mr Lawsen said and all bidders were active, with offers rising in $50,000s mostly before it sold for $2.975m.
The home was described as being the “ultimate Bulimba entertainer” with a pool complete with views across to Hamilton, multiple entertaining areas including a large terrace and deck.
The 810sq m property also has development approval to be subdivided into two lots.
“What makes this property stand out from all the others is the approved development potential on offer,” was how Mr Lawsen listed it. “The hard work and expense have already been taken care of. Savvy investors turn the equity into cash by realising the ability to subdivide the 810sq m block into two lots.”
“There is no rush, the DA has six years to run perhaps wait until the kids have left home before cashing in given the current market trends, this might just cover your retirement.”
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