Coorparoo estate sells for $2.3 million in a single bid from one family

They say if you’re going to make one offer, make it your best – and one massive bid of $2.3 million was all it took for a Brisbane family to obliterate the competition over a hilltop Coorparoo home.

Perched at the top of a cup-de-sac in the very aptly named View Street, the 1045-square-metre estate recently went under the hammer in front of a large crowd of bidders hopeful of securing one of Coorparoo’s most tightly held positions.

The four-bedroom, three-bathroom post-war home, which had not been put to market for more than 60 years, is known in the area for its panoramic city, mountain and district views.

Coorparoo estate sells for $2.3 million in a single bid from one family (5)

More than 87 groups were shown through the house during its auction campaign, and a whopping 22 buyers registered to bid on the day.

Bidding opened at $1.2 million and then jumped to $1.6 million before slowing to bids of $100,000, until one couple, who had been waiting quietly in the background, made their one and only bid of $2.3 million.

Every other buyer was immediately blown out of the water, stunning marketing agent Ben Cannon of McGrath Bulimba.

Coorparoo estate sells for $2.3 million in a single bid from one family (4)

“We were shocked. There was a sale next door of a similar vintage property for $1.8 million at the back end of last year, so to achieve such a premium was a result of the competition,” he said.

“The undersupply of real estate, good or bad, is driving active buyers to compete for properties and it’s a really good opportunity for sellers.”

The buyers, a professional Brisbane-based couple with children, had arrived at the auction having never having seen the property.

Coorparoo estate sells for $2.3 million in a single bid from one family (3)

They took a quick tour, looked over details and then waited quietly before they placed their one, winning bid of $2.3 million. They planned to move in and make it their forever home, Mr Cannon said.

“I think the result here is testament to the property itself. This is a generational home, a forever home and I think the new owners will do something really special with it.”

The vendors of the estate were the Fardoulys family of the Coorparoo-based Fardoulys Constructions, who bought the property in an off-market deal 35 years ago. The previous owners had also held the property for about 30 years.

“It was a combination of happiness and sadness – it always is when a long-held family home is sold,” Mr Cannon said.

Coorparoo estate sells for $2.3 million in a single bid from one family (2)

 

 

 

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