This house at 47 Fisher Street, East Brisbane, sold at auction for $955,000.
A Brisbane couple who spent around $180,000 renovating their inner-city home, made $105,000 on their investment at auction on Saturday when their house sold for $955,000.
Heath and Mayra McGillivray bought 47 Fisher Street, East Brisbane in 2016 for $670,000 and built in underneath, adding two extra bedrooms and a rumpus downstairs while renovating the original part of the circa-1900 colonial cottage.
The renovated kitchen at 47 Fisher Street, East Brisbane.
“It’s a little sad,” Mr McGillivray said. “We were here for five years. Charles Warren Constructions did the renovation three years ago and we’ve invested a lot of time into it. But we’re glad it’s gone to another lovely couple.”
Seven registered bidders put in their best efforts to secure the 263sq m property at auction with Ray White auctioneer Haesley Cush leading what would be his 13th consecutive auction to sell under the hammer.
The crowd gathers before the auction.
“That just talks to what’s happening with our city at the moment,” Mr Cush told the auction crowd of around 40.
“It’s incredible value, with our borders closed at the moment we are fielding a heap of inquiries from interstate investors but with those restrictions in place it’s the locals who are enjoying the market today.
Ray White auctioneer Haesley Cush at 47 Fisher Street, East Brisbane.
“When I started working for mum — who’s here today — in 1996, we sold property with interest rates at 18 per cent, today I saw last week 1.99 per cent is the interest levels that you can get money at today. It’s a wonderful time for people to be involved in real estate … and we’ve got infrastructure coming. Queen’s Wharf is coming; the biggest facelift our city’s had since South Bank.
“Ready to start?”
A couple standing near a cactus in the front garden sprang into action first with an opening bid of $700,000 but they were soon overtaken by bidders from other parts of the garden who moved the auction in $25,000 lots until Ipswich doctor Charles Parsons slowed the pace with a $10,000 rise to $935,000.
“There was no strategy, I just wanted to hold off for a little while and get the lay of the land,” Dr Parsons said. “But there were a few little surprises there, like that phone bidder at the end.”
The phone bidder came into play as the auction passed $940,000 with Ray White Bulimba lead agent Scott Darwon confirming that the house had passed reserve and was on the market.
The renovated upstairs level at 47 Fisher Street, East Brisbane.
Dr Parsons, with his partner, radiographer Natasha Radbone and her parents in support, replied with $945,000 and then Mr Cush took what he thought was a $960,000 bid from the phone bidder.
“No, no, no,” came the reply, “$950,000.”
“That’s okay,” Mr Cush said. “ We always just assume more. Take the time.”
Dr Parsons replied with $955,000 and the auction paused.
“Wouldn’t it feel good to bring out that 60 now?” Mr Cush asked of the phone bidder. “Get that feeling back.”
But the moment had passed and the house sold to first-home buyers Charles Parsons and Natasha Radbone who will move from their Coorparoo rental.
Natasha Radbone and Charles Parsons meet the sellers of 47 Fisher Street, East Brisbane, Heath and Mayra McGillivray.
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