A SPRAWLING Grange estate on 2239sq m smashed the suburb record by more than $1m on Saturday, when it sold at auction for $5.75m.
As the largest property in the inner-northern suburb, the five-bedroom estate at 79 Montpelier St, Grange had held the suburb record for eight years.
But in the past month, three other Grange homes had all sold above the $3.85m that developer Scott Flynn and his wife Sacha paid for the home in 2014, with $4.65m the new price to beat.
“It’s been incredible that we’ve seen four pretty amazing properties all go up at the same time,” Ray White Wilston principal Alistair Macmillan said. “I don’t know if we’ll see too many more properties like this.”
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Brisbane builder John Hastie started his day on Saturday not with voting but with catching up on day two of the US PGA golf championship before heading out to bid at the auction of 79 Montpelier St, Grange. Mr Hastie and his wife Janette sat at the kitchen table of the five-bedroom character home, with close to 100 onlookers, including four competing bidders standing around them and Ray White auctioneer Phil Parker.
“It’s a nice character home but it needs some improvements,” Mr Hastie said.
The opening bid of $3m came from agent Sam Hagen who was on the phone with a local bidder and Mr Hastie replied swiftly with a counterbid of $4m. Mr Hagen’s bidder returned with $4.5m and then a couple from interstate raised their paddle to bid from their spot on the back deck overlooking the tennis court. It was a spot they shared with at least 25 others who heard the call of $5m before Mr Parker did.
The phone bidder replied with $5.5m at which point Mr Hastie slowed the auction with an increase to $5.6m and the auction paused. “With all these things there’s risks involved,” Mr Hastie said afterwards. “I’ve taken risks all my life.
“But we spend a lot of time controlling our costs, looking at our costs, we have good reliable tradies and suppliers so hopefully that will help us going forward at these times.”
By his side was business partner and son Adam Hastie, who kept his raincoat on until the auction paused for private negotiations.
“Adam’s going to be the one working on this place,” Mr Hastie said.
A few minutes later the Hastie family increased their bid to $5.75m which sealed the deal and the property sold unchallenged for that price.
“Now we can go and vote,” Mr Hastie said.
Scott and Sacha Flynn bought the British Trade Commissioner’s former lodgings in Hamilton for $9m in December.
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