Buddina property: Alkira St home attracts interest from local, interstate developers

Owners of a 1970s Sunshine Coast home in a popular beachside suburb are eyeing a seven-figure profit as they look to sell the family home for the first time in five decades.

A seven-figure profit appears likely for a Brisbane family selling their Buddina home for the first time in 50 years.

The Alkira St three-bedroom home has been listed for sale with Ray White Buddina agent Ryan Bradeley for offers over $1.95m.

Mr Bradeley said it was one of the last undeveloped medium density lots in the sought after Sunshine Coast beachside suburb.

He said the owner, who inherited the property from his father, had retired and was ready to part with the property.

It was last sold in 1974 for $26,500.

“We sold the property behind this about 12 months ago and that is now going through a development application at the moment for three boutique units,” Mr Bradeley said.

“That sold for $1.5m.”

Mr Bradeley said local and interstate developers had shown interest and were in the process of doing due diligence on the development potential.

He said it came at a time when Buddina was undergoing a major transformation.

An Alkira St property at Buddina on the Sunshine Coast has hit the market for the first time since 1974.

According to realestate.com.au the suburb’s median house price has risen to $1.625m.

“Over the past 12 months there has been in excess of 70 development applications either submitted, approved or built, for duplexes,” Mr Bradeley said.

“That has been a big contributor to the market.

“There’s a different calibre of property in this area now.”

In March a Boorook St, Buddina, duplex sold for $2.7m which set a new benchmark for the suburb.

Mr Bradeley said another duplex recently sold at Bandelong St for $3.5m.

“The median house price at Buddina over the past two years has more than doubled,” he said.