Apartment 1 at Noosa’s prestigious Little Cove sold at auction on Saturday for the amazing price of $6.3 million after 38 bids from eight buyers.
Nic Hunter from Tom Offermann Real Estate who handled the sale said proximity and views attracted buyers to the apartment with its sale more than doubling its value in five years.
Mr Hunter sealed the deal on the luxury unit to a Victorian buyer who had only seen it through a virtual walk-through.
“I don’t think they’d seen it before. They hadn’t stayed in it,“ he said. “The buyer missed out on the penthouse three years ago. They weren’t going to miss out on this one.“
Eight registered bidders from Melbourne, South Australia, NSW, Brisbane and the Sunshine Coast participated in the auction to secure the unit at one of Noosa’s key locations. A full house of 30 people allowed under Covid-19 restrictions attended the auction which came down to two bidders, the Melbourne buyer outbidding a Sunshine Coast resident.
“The strong opening bid of $4,800,000 set the pace on the sundrenched balcony just 30m from Little Cove beach. Bidding cards were waving all over the place and didn’t slow down until the $6 million milestone was reached, and then auctioneeer Gordon MacDonald’s insistence paid off with a sale being concluded amongst a roar of applause at $6,300,000.
“The owners are absolutely delighted and a bit sad to sell,“ Mr Hunter said. “They absolutely loved the property. They had a lot of memories there with the family.“
He said the previous owners decided it was time to move on and celebrated the sale with “a lovely lunch“.
The property was last sold in 2015 for $2.8 million and renovated three years ago.
“It just shows with growth like that a lot of people are looking for lifestyle,“ Mr Hunter said.
Properties with views in close proximity to water at Noosa Heads, Little Cove, Noosa Sound, Sunshine Beach and Noosa Waters were gaining a lot of attention and similar high growth rates, he said.
Agency principal Tom Offermann said “This sale capped off another very successful week for his team with a string of high value sales which included two breaking $10,000,000“.
“This auction highlights how much confidence there is in the Noosa market, especially when you consider that seven other buyers with over $5 million to invest have walked away empty handed,“ he said.
The 300sqm single level three bedroom, three bathroom apartment had a private garden entrance, private swimming pool, no stairs, all the latest in features and appliances and no close neighbours except for the wildlife in the National Park.
It’s $6.3million price tag puts it at 10 times the median unit price in Noosa of $625,000 which according to the June 2020 REIQ house price report led the state property market with a median increase of 8.7 per centHouse prices in the shire also excelled in the report recording an increase of 2.8 per cent with median house prices at $839,500.
“It was good to represent a property of that calibre in such an iconic location,“ Mr Hunter said.
“Prestigious Little Cove is where the ocean meets rainforest albeit the world-famous 477 hectare Noosa National Park, with its walking trails and world recognised surfing reserve, also where minutes away Hastings Street, with its sophisticated array of boutiques, art galleries and nationally known restaurants and cafes, meets laidback Noosa Main Beach and Laguna Bay.“
