‘Extraordinary act of kindness’: Auction proceeds to be donated to medical research

The proceeds from an inner-city Brisbane home sold under the hammer over the weekend are set to be donated to medical research. WATCH THE VIDEO

An inner-city Brisbane home has sold under the hammer on Saturday, with all proceeds going to a charitable trust that supports medical research and tertiary education.

The home at 24 Ferol Street, Coorparoo, owned by Professor George Mellick, sold under the hammer for $1.332m with an opening bid of $1m.

Three active bidders fought it out to get their slice of the popular inner-city suburb.

Property agent Terry Lucas from RE/MAX Living said the auction was an extraordinary act of kindness, and he was privileged to market the home.

Despite requiring some updating, 24 Ferol St, Coorparoo, has been kept in good condition.

“The uniqueness (of the sale) was the generosity of the seller, and the proceeds going to medical research and training some of the young scientists was a very wonderful opportunity,” Mr Lucas said.

“Terrific local and interstate interest as well; Coorparoo is a very desired area.”

Mr Lucas said the campaign went very well.

Overlooking the backyard at 24 Ferol St, Coorparoo.

“Lots of people attended the open home and private inspections; the home is certainly in need of some updating but has been kept in a tidy state and has a very nice locality,” he said.

“The new owners are from the medical world; it’s a win-win situation. There were some disappointed underbidders, but that’s the nature of an auction; it was a great result on the day.”

Property agent Terry Lucas from RE/MAX Living said the auction at 24 Ferol St, Coorparoo was an 'extraordinary act of kindness.'

“Buyers heading into auctions need to do their research, get a building and pest inspection if it’s not already on the property and work out what they’re prepared to pay for the property.”

Auctioneer Dene Tucker from RE/MAX Auction Services said the auction was a special opportunity.

“Professor George Mellick specialises neurodegenerative diseases; all the sale proceeds will be going through to very important research and education,” Mr Tucker said.

24 Ferol St, Coorparoo had substantial interest throughout the entire campaign.

“When someone in the community gives back, it’s heartwarming and restores your faith in humanity.

“The recent figures that we saw from CoreLogic show that Brisbane has the best capital city growth in the country.

“Although stock numbers are down, the interest I’ve seen across all our auctions today is off the planet.

“These are really exciting times.”