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Suffolk Park home featured on Grand Designs Australia sells

Supplied Editorial 3/31 Hayters Drive, Suffolk Park Contact Agent

This incredible home in the Byron region has sold.

Mike and Megan Fishwick have sold their mid-century modernist-inspired Suffolk Park home.

The stunning homebuild, minutes from Byron Bay, featured last year on Grand Designs Australia.

The First National Byron Bay agent Tara Torkkola secured the snappy sale having given a $2.2m price guidance. The 800 sqm building block was sold in 2017 for $645,000 in the Seacliffs rainforest ­estate developed by Jonathan Levy’s Unison Projects.

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Mike, a clothing designer for a local street/surfwear label, and Megan, founder of Feel Good Revolution took their inspiration from the internationally ­acclaimed 1951 Ludwig Mies van der Rohe-designed Illinois weekender for Dr Edith Farnsworth.

Mike and Megan Fishwick sold the property.

Supplied Editorial 3/31 Hayters Drive, Suffolk Park Contact Agent

The home has a pool.

The couple lived in a caravan with their three children for almost a year while undertaking the project. The Foxtel LifeStyle channel presenter Peter Mad­dison suggested it was “a uniquely Aussie version of a modernist building”.

“It’s incredible because they’ve put so much energy into creating a most ­unlikely building given their budget,” Maddison said.

Supplied Editorial 3/31 Hayters Drive, Suffolk Park Contact Agent

The ultimate entertainer.

Supplied Editorial 3/31 Hayters Drive, Suffolk Park Contact Agent

Incredible interiors.

The three-bedroom, two-bathroom house features an outdoor pool, entertainment deck and a large carport. The kitchen, covered in handcrafted kitchen tiles, includes a cafe-style rangehood and spacious dining with a bespoke dining nook.

There’s a $1.2m median house price at Suffolk Park which has 18 properties for sale. Based on five years of sales, Suffolk Park has seen a compound growth rate of 10 per cent for houses, according to realestate.com.au. The median has been above $1m since 2016.

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AFL star Josh Kelly sells Coogee house for $3.45m in August, the same as he paid for it in April

AFL Rd 10 - Essendon v GWS

Josh Kelly of the Greater Western Sydney Giants … he’s had a shock result on his Coogee property.

AFL star Josh Kelly bought a Coogee home for way above the price guide in April and put it up for sale again in June. But now he’s achieved the unexpected amid the COVID-19 gloom.

The GWS Giants midfielder’s two-storey three-bedroom home has sold for $3.45m — the exact amount that he paid — via Phillips Pantzer Donnelley’s Alexander Phillips.

While he’s still up for $180k in stamp duty and his legal fees, many were assuming that Kelly, 25, may have had to cop a much greater loss in the uncertain property market.

All the signs were certainly looking that way, with the property being pulled from its scheduled July 25 auction.

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Supplied Editorial 14 Division Street, Coogee, NSW 2034. GWS STAR JOSH KELLY PULLS
 COOGEE AUCTION OFFERING

A luxury offering.

Supplied Editorial 14 Division Street, Coogee, NSW 2034. GWS STAR JOSH KELLY PULLS
 COOGEE AUCTION OFFERING

The kitchen.

Reports had indicated Phillips had struggled to find sufficient buyer interest, despite the property being offered with a reduced buyer guide of $3.2m.

But the realestate.com.au listing now shows as sold.

Phillips was tight-lipped about the result when contacted by the Wentworth Courier, though other sources have confirmed it as being what he paid.

The reason given for the sudden listing of the home in June — just days after settlement — was “a change of circumstances”.

Supplied Editorial 14 Division Street, Coogee, NSW 2034. GWS STAR JOSH KELLY PULLS
 COOGEE AUCTION OFFERING

The living room.

Supplied Editorial 14 Division Street, Coogee, NSW 2034. GWS STAR JOSH KELLY PULLS
 COOGEE AUCTION OFFERING

Overlooking the garden.

Phillips had said Kelly was under no pressure to sell.

The residence on a 531 sqm block has living spaces that open out to decks on both levels.

The main ground-floor entertainment zone features a kitchen with a Caesarstone island bench, sleek marble splashback and a freestanding 1600mm Ilve gas range.

Kelly was recruited from the Sandringham Dragons to GWS with pick two in the 2013 draft.

He won the Giants’ rising star award in his first year.

Then in 2017 he was selected in the All-Australian side and won GWS’s best and fairest.

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Yaloak Estate sold to China-backed firm for eight figures

The Yaloak Estate at 4662 Geelong-Ballan Rd, Fiskville has been sold.

A China-backed agricultural firm has bought Yaloak Estate in regional Victoria for an undisclosed eight-figure sum almost a year after it hit the market.

Famous for polo events that attracted the likes of Catriona Rowntree, Michelle Payne and Damien Oliver, the 4662 Geelong-Ballan Road, Fiskville, property has been sold by Melbourne businessman, lawyer and winery owner Peter Yunghanns.

AFL boss Gillon McLachlan has also been snapped riding at the 5071ha estate.

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A striking, 1890s-built homestead, an additional seven houses, a wind farm and the Yaloak Polo Club are all part of the deal.

Listed in late August last year, the sale has reportedly topped its $50m expected price.

Melbourne businessman Peter Yunghanns.

Catriona Rowntree attended the Ballarat Cup at the Yaloak Polo Club earlier this year. Photo from Yaloak Polo Club Facebook page.

Catriona Rowntree attended the Ballarat Cup at the Yaloak Polo Club in 2019. Photo: Yaloak Polo Club Facebook page.

China-backed Harvest Agriculture put a caveat over the property in July, several months after it was listed as under contract with Colliers International’s Duncan McCulloch and James Beer.

Mr McCulloch declined to comment, stating there was a confidentiality agreement in place.

Corporate advisory firm Kidder Williams also facilitated the sale. The group’s founder David Williams could not comment on the particulars, but said the property’s key attraction had been its prospects as an agricultural hub — not its sporting appeal.

The property features extensive arable land, with Melbourne’s CBD visible in the distance.

The Yaloak Estate at 4662 Geelong-Ballan Rd, Ballan, is for sale with expectations it could top $50 million (1)

The new owners are an agricultural firm backed by Chinese money.

Mr Williams said while strong returns for Victorian farmers over the past six months could soon have properties bought by “the farmer next door”, there was still strong international interest.

However, sales to China-funded buyers were increasingly uncommon.

“A lot of that (demand) is coming out of Canada and the US,” Mr Williams said.

“The reality is the Chinese have nearly dried up, they are still interested in food, but you aren’t seeing many transactions going through.”

The Yaloak Estate at 4662 Geelong-Ballan Rd, Ballan, is for sale with expectations it could top $50 million (1)

The massive estate spans more than 5000ha.

Its fertile grounds provide extensive space for growing ornamental and agricultural plants.

Farms producing macadamias, avocados and in Victoria in particular, almonds, were in particular demand with Canadian buyers, including Public Sector Pension Investment – the super fund behind the North American nation’s famous Mounties.

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You won’t believe some of these dream homes

Virgin Islands Castle. Supplied by Christie’s International Real Estate.

Is there anything better than having a stickybeak at how the other half live?

The feedback we get from the readers of our Dream Homes pages in The Advertiser’s Real Estate Magazine each week would suggest that no, there isn’t.

And, with examples like the ones below, it’s not hard to see why everyone loves looking at a bit of ‘property porn’.

So kick back and take a trip with us through three of the most stunning homes currently on the market around the world – one of which you won’t even need a passport to visit.

Enjoy!

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St Croix, Virgin Islands

Virgin Islands Castle. Supplied by Christie’s International Real Estate.

I wrote a few weeks ago about potentially having to defend a Tasmanian home from an invader’s attack in last week’s Dream Homes pages (because of course I did) but really, when it comes to protecting a home from enemies, this castle was practically built for it.

Virgin Islands Castle. Supplied by Christie’s International Real Estate.

I mean, look at it. Set on the top of a hill, overlooking crystal clear waters in the stunning Virgin Islands (there’s a joke in there somewhere …) – who wouldn’t want to try and steal that?

Virgin Islands Castle. Supplied by Christie’s International Real Estate.

The joke’s on those that do because, with elevation like that and the 360-degree views this place offers, mounting a surprise attack would be nigh on impossible. It would still be worth a try, because what’s here is pretty incredible – especially that central column thing. I’m not sure what it is, but it looks like it should play music. I hope it plays music. It’d be a waste if it didn’t play music. I’m getting sidetracked here …

Virgin Islands Castle. Supplied by Christie’s International Real Estate.

Anyway this place is practically begging to be invaded. Either that or you could just buy it. Yeah, that might be easier …

Actually, I’ve just seen the price. Mobilise the troops. We’re stealing it.

$20 million

London, UK

Lillie Square, London. Supplied by Christie’s International Real Estate

Another week, another London apartment. As many of you know, I’m not really one for being cooped up, and I like having the ability to get out and explore the environment around me. As nice as this place is with its high-end fit-out, what it’s located near is way more enticing to me than what’s contained within its four walls.

Lillie Square, London. Supplied by Christie’s International Real Estate

So what’s it near, you ask? Well, the Lillie Square apartment is just a short walk from Big Ben, the London Eye, the Tate Modern and the Saatchi Gallery. The Royal Albert Hall – home of both live music and, according to some of my UK friends, a notorious dictator’s ball – is just a short walk away, while there are a number of incredible stadiums within cooee for when you want to catch a Premier League game.

Lillie Square, London. Supplied by Christie’s International Real Estate

The building’s amenities are pretty incredible too, and the complex is renowned for having London’s most prized residents’ club. As a bit of a hillbilly, that doesn’t really sound like it’s for me, if I’m honest … As Groucho Marx once said: “I don’t want to belong to any club that would accept me as one of its members.”

Price not disclosed

New Town, Tasmania

OK, so this might not be the biggest or the grandest property I’ve ever shown off in these pages, but in some ways it’s as close to my dream home as I’ve ever featured.

17 Boatshed Cornelian Bay, New Town. CP.

Sure it’s lacking the rolling hills, the big farm barn and a dedicated area for shirtless, bareback horse riding that I crave, but it does offer that laid-back back-to-basics lifestyle I’m all about. I don’t know about you, but as I get older the thought of cleaning the 12 bedrooms and 18 bathrooms some of these dream homes have strikes me as altogether rather exhausting.

17 Boatshed Cornelian Bay, New Town. CP.

I’ve got a four bedroom, two bathroom home and I fail dismally at keeping up with the cleaning. And why the need for so many bathrooms anyway? Unless you have a digestive problem, what is the point? Seriously, what is the point? Make them all wine rooms I say …

17 Boatshed Cornelian Bay, New Town. CP.

So anyway, this New Town place. What exactly is it, you ask? Well, it’s a boatshed, which is essentially a tiny home on the water. And aren’t tiny homes just the flavour of the month right now?

17 Boatshed Cornelian Bay, New Town. CP.

Imagine taking all of that rustic charm, that sexy minimalism and that chic heritage and plonking it on the banks of the mighty Derwent River, five minutes from the city centre and just a short walk from the beautiful Royal Tasmanian Botanical Gardens.

17 Boatshed Cornelian Bay, New Town. CP.

From birdwatching to fishing, kayaking, or even some quiet writing or painting, I’m sure you can find plenty to fill your time. And best of all, just the one bathroom to clean.

Price not disclosed

Compiled by Tom Bowden

All overseas properties for sale through Christie’s International Real Estate. Christiesrealestate.com

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Black Rock house tops reserve by $300K on first Saturday of stage four

The vendors of 12 Glenmore Crescent, Black Rock have an extra $300,000 to play with.

Houses shot way past vendors’ price expectations at sales held during Melbourne’s first Saturday of stage four coronavirus restrictions.

Agents sold properties from their living rooms via online auction platforms, which reeled in some incredible results.

A Black Rock beauty at 12 Glenmore Crescent sold for a whopping $2.76m, soaring more than $300,000 above reserve.

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Inside the traditional family home.

Ray White Carnegie agent Tom Grieve said the auction was brought forward from its original date, August 22.

“What was meant to be a four-week campaign turned into a two-week campaign because we won’t be able to get anyone through in the coming weeks and we didn’t want it sitting there gathering dust,” Mr Grieve said.

“Right from the get go, we had a lot of inquiries because an offering like this is particularly rare so that generated a lot of interest.

“The sellers are thrilled, they didn’t think they would get this price even prior to COVID-19.”

Another massive result was notched by an architectural delight at 39 Iffla Street in South Melbourne.

This weatherboard charmer at 39 Iffla Street, South Melbourne sold strongly.

An outdoor terrace.

The living area flows outdoors.

A red splashback is a design focal point in the kitchen, which also opens outside.

Two young couples bid for the three-bedroom property, which sold $157,500 above reserve for $1.7325m.

Marshall White Port Phillip agent Nicholas Hoo said a full-length campaign had allowed for about 80 private inspections, which lead to eight registered bidders on auction day.

“It was one of only two homes available in South Melbourne that was fully renovated with three big bedrooms,” Mr Hoo said.

“Lack of stock is a big issue for buyers at the moment … there isn’t much available by way of choice.”

Wakelin Property Advisory direct Jarrod McCabe said online auctions “remain a spirited affair” but they would “become increasingly rare in coming weeks”.

“Prohibition on physical inspections will discourage most prospective vendors from starting new campaigns, although there will be a brave minority who feel there are buyers out there willing to rely on virtual inspection technology,” Mr McCabe said.

The house at 5 Colburn Court, Hillside also sold strongly.

As did 8 Mantaura Avenue, Taylors Lakes.

Inside the Taylors Lakes home.

Other big results included houses at 8 Mantaura Avenue, Taylors Lakes, and 5 Colburn Court, Hillside, which both sold $50,000 above reserve for $675,000 and $650,000 respectively.

The properties were sold via online auctions conducted by Barry Plant auctioneers from their homes.

Barry Plant chief executive Mike McCarthy said a number of sales would be pushed through during stage four lockdown for properties via private sale.

The company’s Manningham office already had 35 properties that were under offer and would be sold soon.

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jayitri.smiles@news.com.au

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Culture Kings owners list riverfront mansion

American rapper Snoop Dogg visited Culture Kings in Nerang Mall. Store manager Simon Beard sold $25 000 worth of merchandise to Snoop and his entourage.

Simon Beard, pictured inside a Culture Kings store in 2011.

FIVE months after securing a dream mansion on Isle of Capri, the couple behind Gold Coast streetwear giant Culture Kings has put their former home on the market.

Simon and Tah-nee Beard paid $11.75 million in May for the resort-style residence known as Riverpoint in one of the biggest sales on the Gold Coast this year.

The Beard’s former home at 46 Reed St, Ashmore is on the market.

With that deal having settled in June, the Beards are now selling their sprawling Ashmore estate, set on a whopping 4161sqm riverfront lot.

Property records show 46 Reed Street was purchased in Tah-nee Beard’s name for $3.3 million in January 2014.

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The 4161 sqm estate has a long list of features.

No price guide has been given in the fresh sales campaign being handled by Charlon Delos Angeles and Amir Mian of Amir Prestige.

Known as Paradise Mansion, the holding comes with a long list of luxury features including a tennis/basketball court, pool with a cabana, a cinema, gym and an eight-car garage.

Inside the home has a contemporary feel.

The main residence includes six bedrooms, all with ensuites, while a separate guesthouse is ideal for use as staff quarters or for visitors.

The Beards, who founded Culture Kings in 2008, upgraded their riverfront lifestyle with the purchase of their new Surfers Paradise pad.

The Riverpoint mansion on Isle of Capri.

Built on a massive point position, the 1651 sqm holding boasts 90m of main river frontage with lush tropical gardens giving the home a resort feel.

Culture Kings has carved an international reputation for its streetwear, including brands from all corners of the globe, live DJs and instore barber haircutting and VIP customers including Snoop Dogg, Chris Brown and A$AP Rocky.

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Geelong penthouse apartment has entertaining space inside and out

The magnificent 106/100 Western Beach Road, Geelong.

WITH the state of the world as it is at the moment, this set-up would be the perfect place to be when you’re pent-up.

The exquisite three-bedroom penthouse at 106/100 Western Beach Road sits on the top level of the Pier Point Apartments.

Imagine coming home to this.

It presents as-new, despite actually being built in 2010, and is sure to attract plenty of attention.

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McGrath, Geelong agent Jim Cross has the listing, with a price guide of $1.95m to $2.145m.

He said the place is perfect for those seeking a low-maintenance lifestyle without having to forgo any space.

Mr Cross also said the inviting space is great for those that like to entertain.

Views for days.

In fact, he reckons there’s space to host 20 to 30 fellow humans (once safe to do so, of course).

“Everything is in abundance,” Mr Cross said. “It’s rare to have such a large volume apartment all on the one level.

“Penthouses of this volume are not available very often.”

So, this means you can take the next few weeks to plan, dream and scheme up all the epic events you’re going to host post COVID-19.

Mr Cross said the apartment has had only one owner who bought it off the plan.

And, the list of flashy modern luxuries is long.

Each of the three bedrooms has its own bathroom and sliding door onto the terrace.

Terrace access just a few footsteps away.

With all these social gatherings, the family chef will need every inch of the huge open-plan kitchen, dining and living zone.

The calming kitchen.

They’ll meal prep in style with stone benchtops, a 900mm oven, loads of storage and roomy island bench, and won’t miss a minute of the action.

Here, large commercial grade sliding doors link to the huge terrace (more on that later).

Party house central.

Plus, there’s a separate study off the entry that could be used as another living zone or home office, and loads of extra storage.

Then there’s the vantage points (yep, points) in the form of a huge wraparound deck that travels the west, south and east boundaries of the property.

The result – jaw-dropping city and bay views. Noise won’t be a problem either (well, external noise).

“The house is completely double glazed throughout, and is positioned at rear of the building, so you don’t get the noise of the hustle and bustle,” Mr Cross said.

Light and bright living spaces are the order of the day.

He’s a big fan of the location (keep an eye out for him down there exercising on Saturday mornings) and reckons it’d be a swell place to live.

“The new owners will be living above local cafes, restaurants, supermarkets and all the Geelong CBD amenities,” Mr Cross said.

Other highlights include ducted heating and airconditioning, as well as lift access, secure parking for two vehicles and a storage cage.

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Victoria’s real estate growth, danger zones revealed by Hotspotting

4 Dalton Road is for sale for $1.25m in hot market Gisborne.

Victoria’s best suburbs to buy into — and the no-go zones — have been revealed in a new report.

Hotspotting’s latest Price Predictor Index names Clyde, in Melbourne’s outer southeast, and Macedon Ranges town Gisborne among Australia’s five best prospects for future price growth.

Buyers would also do well to target Altona North, Boronia, Brunswick East, Brunswick West, Flemington, Prahran, and the Bendigo, Geelong and Mornington Peninsula regions, according to report author Terry Ryder.

But they should steer clear of the “danger” CBD, Southbank and Docklands unit markets, where sales activity had “dropped markedly” and vacancy rates had “spiked”, he said.

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Jared Gresle and his partner, Aylin — pictured with children Alara, 5 and Jayden, 3 — have a home being built in hot spot Clyde. Picture: Nicki Connolly

Helicopter view of Melbourne's cranes/skyline

The CBD, Docklands and Southbank have been dubbed “danger markets”. Picture: David Caird

Property pundits have conceded buying will be challenging during metropolitan Melbourne’s stage four COVID-19 lockdown, with the market having to operate entirely online. But they’re forecasting a spring revival for the market, should restrictions ease in September as planned.

Mr Ryder said parts of Melbourne had experienced declines in sales and prices during the pandemic, while others had “continued to show strength”.

He identified 32 suburbs with rising sales activity across the city — down from 69 in the previous quarter, but still much higher than the zero recorded during the 2019 downturn.

Seven were in the Mornington Peninsula: Blairgowrie, Hastings, McCrae, Rye, Safety Beach, Sorrento and Tootgarook.

1 Knott Street, Safety Beach is on the market asking $820,000-$880,000.

Mr Ryder said the area was one of several Melbourne fringe and regional Victoria markets to boom thanks to an “exodus to lifestyle locations within one to two hours of major cities” that had been exacerbated by COVID-19.

“That trend was underway, with people moving out of the big city to regional or fringe-city areas,” Mr Ryder said.

“It was driven by technology, which allows people to work remotely, and COVID-19 has enhanced that.

“Areas on fringes of metropolitan Melbourne have thrived as a result.”

Gisborne was another beneficiary, with “steady uplift in buying activity” driving the median house price up 6.4 per cent in the most recent quarter.

345 Lauriston Reservoir Road, Kyneton attracted an avalanche of Melbourne buyers before selling well in excess of $1.275m.

Keatings Woodend agent Sandi Barry-Mueller said the Macedon Ranges had experienced “an amazing surge of buyers” from Melbourne in the past three months, with COVID-19 making many city dwellers’ tree-change desires “absolutely clear”.

She predicted “a second surge” once Melburnians could move more freely post-stage four.

“With (people realising their) ability to work from home, why wouldn’t you live somewhere where there’s fresh air and a safe community?” she said.

62 Hartleigh Street, Clyde is on the market with a $600,000-$640,000 price guide.

Clyde’s popularity among first-home buyers had helped spur 12 per cent annual median house price growth, Mr Ryder said, noting there had “never been a better time for first-timers, with interest rates ultra low and government assistance at an all-time high”.

National Pacific Properties pinpointed Clyde as a hotspot way back in 2008, general manager Stephen Copland said.

Mr Copland said the developer had three projects in the area, including the well-advanced Hartleigh and Eliston estates, with a new train station and commitment from the local council to build key infrastructure furthering the suburb’s potential.

Jared Gresle, who with partner Aylin and children Alara and Jayden is building a home in Clyde, can’t wait to move there.

“It’s a great location and is very family orientated with lots of parks and walking tracks nearby,” Mr Gresle said.

The Hotspotting report also identified 27 Melbourne markets that represented “safety for investors”, among them Caulfield and Mount Evelyn, and 11 “declining” markets that should be avoided for now, including Melton South, South Yarra and St Albans.

-with Nathan Mawby

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samantha.landy@news.com.au

VICTORIA’S HOT SPOTS AND DANGER ZONES

Best bets for future growth: Altona North, Boronia, Brunswick East, Brunswick West, Clyde, Flemington, Gisborne, Prahran, and the Bendigo, Geelong and Mornington Peninsula regions

Safest markets: Caulfield, Chirnside Park, Kilsyth, Mitcham, Mooroolbark, Mount Evelyn, Parkdale, Thomastown

Declining markets: Burnside Heights, Dallas, Delahey, Doveton, Frankston North, Ivanhoe East, Melton South, South Yarra, St Albans, Williams Landing, Wyndham Vale

Danger markets: Melbourne CBD, Southbank, Docklands

Source: Hotspotting Price Predictor Index for winter 2020

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Paddington house combines practicality with perfection

13 Stephen St, Paddington has plenty of room for the whole gang to spread out.

Some luxury homes are amazing works of art, but totally impractical for a family.

This three-level Paddington residence — up for auction on August 19 with a $6m guide via Richardson & Wrench Double Bay’s Marion Badenoch and Veronika Turnbull, is the best of both worlds: beautiful and also extremely family friendly.

No wonder more than 50 groups attended the home’s first open home.

With five bedrooms, four bathrooms and multiple entertainment areas, 13 Stephen Street has plenty of room for the whole gang to spread out.

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BYO pool table ….

And there’s even room for a grand piano!

And great for bringing in the shopping from the car — a door leads straight from the double garage into the kitchen.

The chef in the house will love the kitchen, too, which has recently been updated. A premium Ilve gas range with barbecue grille and two ovens was added.

The house, designed by renowned architect Brian Lynch, was built in 1985 but every surface was touched in its makeover.

The master suite opens to a balcony.

His and hers bathrooms have recently been updated.

With the older children moving to bedrooms on the lower level, one of which has an ensuite and the other close access to a bathroom, Mum and Dad decided to upgrade their bathrooms off the master suite.

There’s also a huge dressing room and a wide balcony overlooking the large garden, designed by Marcia Hoskins.

The back yard is a stunning outdoor entertainment space, perfect for barbecues. And the laundry in the nearby rumpus room has a sink, dishwasher and large fridge.

The kitchen, too, has been freshened up.

The rear courtyard is a great spot for family barbecues.

What’s particularly special about this home is the width — it’s 12m across. That’s extremely rare in Paddington.

The vendors, who now have an empty nest and are downsizing, love the light — there’s a large skylight in the living area.

The house is 12m wide, which is huge for a Paddington home.

There are multiple places to dine throughout the home.

They say: “The house has provided us with a beautiful family home that is so light and sunny with flexible spaces and a great place to entertain family and friends.”

They also adore the location. It’s close by Five Ways village, CYC, good schools and Rushcutters Bay Park.

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Surprise result as mega mansion goes under the hammer

The grand mansion at 1525 Riverdale Dr, Hope Island.

PRIVATE negotiations will begin this week on the sale of Harbour Point, the grand Hope Island mansion which was passed in at auction for on Saturday.

The sun was shining down on 1525 Riverdale Drive where more than 200 people turned out to see the fate of the largest land holding in the exclusive enclave.

QLD_GCB_REALESTATE_AUCTION_10AUG2020

Spectators and bidders gathered around the pool. Photo: Jason O’Brien

A strong local contingent gathered around the resort-style pool where auctioneer Colin Banks listed the virtues of the iconic estate.

“This is the largest block in the area,” he said.

“There are 11 entitlements, subject to council approval; it’s a whopping 4982 sqm property. The house is master built and has a 1815 sqm footprint.”

One of four registered bidders – all local – got the ball rolling at $4 million, with the auctioneer bidding $4.25m when no further offers were forthcoming.

“People have travelled over the border to be here — I can’t do anything to help you unless that hand goes up,” he beckoned.

QLD_GCB_REALESTATE_AUCTION_10AUG2020

Auctioneer Colin Banks passed the property in at $4.5 million. Photo: Jason O’Brien

The same bidder upped his original offer to $4.5m, still well short of the $9 million paid by the Chinese owners during the GFC in 2009.

“I know you’re going to test me here, but $4.5m isn’t going to buy it,” Mr Banks told the crowd.

“We’re not selling cattle or horses, we’re selling a mansion of a house.”

When the third and final call produced no further interest, the property was passed in and the auction wrapped up less than 10 minutes after it began.

QLD_GCB_REALESTATE_AUCTION_10AUG2020

The doors were open to the public for the first time in 18 years. Photo: Jason O’Brien

Professionals Vertullo Real Estate agent Mark Carew, who led the marketing campaign alongside Nikki Dunlop, said the result was a surprise given the level of interest.

“It’s been very positive,” he said.

“There are a number of interested parties who we will be speaking with this week.”

Mr Carew said the border closure and lockdowns prevented a serious Melbourne contender from attending the auction, which was conducted onsite only.

The campaign pivots to private treaty this week, with an anticipated price guide of $6.5m-$7.5m.

Gilt columns, decorative domes and ornate ballustrading dominate the interior.

The Mediterranean-style mansion was built by national car-warranty business owner Gary and Suzanne Chuck, who purchased the prime plot in 2001 for $2.1 million.

Long-time Riverdale Drive residents Daryl and Pam Sutherland, who attended the auction, recall dinner parties at the house during the Chuck’s tenure.

“There were chefs, waiters and sorbet between courses,” Mr Sutherland said.

“It was like being in a five-star hotel. Gary was a real character, it was always a lot of fun.”

Mr Sutherland said he was surprised to see the property passed in.

“I really thought the bidding would have started at $5m or $6m,” he said.

“I thought a wealthy celebrity might have bought it, like maybe Russell Crowe and his football team.”

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