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Highest Sale For The Month Of July

By Rebecca Richmond

The month’s highest-price for a residential sale in Australia occurred on the weekend through Ray White New Farm.

A six-bedroom, three-bathroom, four-car inner city mansion sold in the suburb of New Farm for $5.2 million on behalf of the vendors. Bidding started at $3.5m from the floor and four of the seven registered bidders engaged in spirited bidding to $5m and settled at $5.2m.

“We weren’t sure if it would go to developers or owner-occupier, we had 50/50 interest from both. The property is in need of attention, About 100 people came to watch the auction” agent Matt Lancashire said. Mr Lancashire also said the sale was a good sign for New Farm riverfront.

The property was heavily marketed. The campaign included the first ever double page spread in the Courier Mail. “The volume of buyers through the front door was staggering. The property attracted interest from all over Brisbane, Sydney and Melbourne. We also had several buyers fly in from the UK to inspect.”

“The sellers were ecstatic, and the buyers were absolutely thrilled to be the new owners of this very special piece of Brisbane real estate. Sitting on 962sqm in Griffith St, the two-storey brick home has 21.3-metre water frontage sold at auction through Matt Lancashire of Ray White New Farm.

Features of the property include an indoor swimming pool, private pontoon, an internal lift, library and a media room. The agent says it’s likely the purchaser will redevelop the site which was last sold in July 2002 for $2.5 million. The auctioneer was Haesley Cush.

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