PHOTO: FILE
Record-Breaking Sale: Seaside Cottage in Moffat Beach Fetches $6.72 Million
A quaint seaside cottage on Queensland’s Sunshine Coast has recently made headlines by breaking sales records. After decades of rejecting numerous offers, the owners finally decided to list their charming three-bedroom home on Mcilwraith Street, Moffat Beach. The result? An astounding $6.72 million at auction on Saturday.
A Frenzied Auction
The auction scene was nothing short of dramatic. Around 80 eager bidders crammed into the small living area of the cottage, with the initial bidding starting at $3.5 million. The intense competition was palpable as attendees vied for the prized property, but it was clear from the outset that this was no ordinary sale.
Decades of Patience
The trustees of the home had consistently turned down offers over several decades, holding out for the right moment to sell. Their patience paid off handsomely, setting a new benchmark for residential property sales in the suburb. According to property records, no other home in Moffat Beach has sold for a higher price.
A Coveted Locale
David Millar, head of David Millar Real Estate, described the significance of this sale. “Homeownership on Moffat Beach has become a top status symbol among Queenslanders,” he said. “Anybody who’s anybody now wants to be associated with the Moffat Beach precinct.”
The previous highest sale in the area was a property just two doors down, bought by the RSL for $6 million two years ago. The staggering sale price of the cottage highlights the increasing demand and desirability of Moffat Beach as a prime real estate location.
Marketed for Development, Retained for Residence
Interestingly, the cottage was initially marketed as a development opportunity. Potential buyers were enticed by the prospect of transforming the 506-square-meter block, which boasts uninterrupted ocean views and easy access to Moffat Beach. Despite this, the young couple who eventually purchased the home decided to keep it as a residential property.
“This property offers unlimited northern views with no traffic between it and the ocean. Unique properties like this are in high demand here,” Mr. Millar explained.
The A-Frame Charm
Built in 1970, the A-frame cottage retains much of its original charm. Its street has long been coveted for its spectacular ocean vistas and serene atmosphere. While only about six of the street’s original homes remain, the cottage is now nestled between a recently built house to the east and a renovated, larger residence to the west.
A One-in-a-Lifetime Opportunity
Described as a “one-in-a-lifetime opportunity” in its advertisement, the cottage captured the imagination of both developers and prospective homeowners. The ad highlighted the property’s unrivalled investment potential and strong prospects for capital appreciation in this tightly held location.
An Exclusive Precinct
“Opportunities like this are few and far between in this exclusive precinct, renowned for its breathtaking scenery and vibrant coastal lifestyle,” the ad read. “Whether you’re an astute investor, a developer with vision, or a homeowner dreaming of a seaside escape, this property presents endless possibilities.”
The home was marketed as an opportunity for developers but will remain a residential property
The Appeal of Moffat Beach
The record-breaking sale underscores the increasing allure of Moffat Beach. Its uninterrupted ocean views, tranquil environment, and vibrant coastal lifestyle make it a highly sought-after location for those seeking both prestige and serenity.
Future Prospects
SOURCE: THE DAILY MAIL