Auction strikes record price in Sunshine Coast hinterland
WITH six registered bidders from throughout Queensland as well as overseas, Melinda Martin of Ray White Maleny had reason to feel confident about the 62.32ha property at 150 Kings Ln selling at auction.
Among the attractions of Arley Farm are three dwellings including a circa 1910 farmhouse with separate self-contained guest studio and the old dairy that has been converted for holiday accommodation.Mrs Martin said there was buyer interest from Central Queensland, Bundaberg, Brisbane, the Sunshine Coast and Lockyer Valley and from an ex-pat working in the Middle East.
The professions of bidders were just as diverse; medical, racing, farming and business.
The property was sold under the hammer for $3.4million to the starting bidder.
Mrs Martin believes the price is the highest achieved in the 4552 postcode for more than six years and underlined the effectiveness of the auction process and put some strength into the top end of the Maleny property market.
"If the property is presented and marketed correctly the results will come," she said.
"We allowed 90-minute open for inspections of the property. There were more than 100 inquiries and 30-plus inspections."
Bidding for the property started at $1million with rises of $250,000 but when bids stopped negotiations started with a potential buyer.
The negotiations secured an increased offer of $3.35million and the property was put on the market.
The original opener, who had stopped bidding at $3.2million, then put up his hand again increasing the bid to $3.4million.
The negotiating party rang his buyer to see if he wanted to advance but he was done.
The winning bidder was from the Sunshine Coast.