Live auction blog: Garage glow-up lands big price for proptech boss' home

Proptech boss Dan Argent has sold his Spring Hill home for $1.815m, with 10 bidders making a play for the flash city pad with a 'rare' triple basement garage. LIVE AUCTION BLOG

With the last leg of the traditional brisk spring season rolling in, buyers keen to secure their new home by Christmas were on the ground at one of 190 auctions scheduled across Brisbane this week. Hendra and Hamilton had the most auctions.

 

 

Updates

4:36 pm November 18, 2023

$400k uplift in 3 months for 'realistic' flippers

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41 Morialta St, Mansfield 3/2/2

One of Brisbane's most-viewed homes going to auction has sold for $1.2m, delivering impressive gains to the sellers who bought the property off market less than three months ago.

The sellers, who own a construction business, secured the three-bedroom, two-bathroom house at 41 Morialta St, Mansfield for $800,000 in September, property records show.

Karl Gillespie and Kosma Comino, of LJ Hooker, took the 556 sqm property to market, with auctioneer Paul Moore fielding offers from 10 registered bidders. The opening bid was $950,000.

Mr Gillespie said the buyers were a local family.

The vendors had spent $120,000 on renovations including a stylish new kitchen, two new bathrooms and laundry and designer fixtures throughout.

The exterior was fully rendered in bright white, with contrasting black balustrades and picket fence adding to its fresh contemporary appeal.

PropTrack data shows the home was among the state's top ten most viewed properties headed to auction this week.

Mr Gillespie put its popularity down to demand for move-in ready homes.

"The owners were very realistic because they bought it off market only a few months ago," he said.

3:25 pm November 18, 2023

Medic couple come up short in bid to take keys to Morningside grand dame

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88 Bridgewater St, Morningside 4/3/2

A young couple's top bid of $1.68m came in just short as a 1914-built Queenslander home in Morningside went under the hammer.

The grand four-bedroom, three-bathroom house on an 878 sqm lot at 88 Bridgewater St was marketed by Nick Mogridge and Selina McIntyre, of Ray White New Farm.

Mr Mogridge said negotiations were continuing between the vendor and the top bidders, who are both medical professionals.

"The most interested buyer at $1.68m was from Toowoomba and grew up in a similar style house and so this one sparked his interest," Mr Mogrdige said.

The vendors were empty nesters and wanted around $1.7m for the home, which they had purchased for $547,500 in 2003.

The home was described as "the epitome of elegance and grace", and had been extensively restored by the owners while retaining its heritage detail.

Positioned across two lots, the home's features include a sweeping front verandah and grand traditional entry opening onto a formal lounge.

There's a modern kitchen with stone benchtops, media room and renovated bathrooms, as well as extensive entertaining spaces, and a swimming pool with a pavilion set amid manicured gardens.

Mr Mogridge said such a grand property was a rare find in Morningside, where most listings were modern townhouses.

PropTrack data shows house prices in the suburb were down 4.3 per cent over the past 12 months to a median of $1.21m.

2:28 pm November 18, 2023

Garage glow-up lands big price for proptech boss' flash city pad

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124 Kennigo St, Spring Hill 3/2/3

Proptech boss Dan Argent has sold his Spring Hill home for $1.815m, with 10 bidders making a play for the flash city pad with a 'rare' triple basement garage.

UrbanX founder and CEO Mr Argent – his digital platform supports real estate agents across Queensland and NSW – purchased the three-bedroom, two-bathroom terrace home in 2009 for $755,000.

It was auctioned by Spring Hill agent Jonzun Lee, as Mr Argent and his wife prepare to upsize and start a family.

Mr Lee said the three-level property on a 202 sqm lot at 124 Kennigo St had attracted huge interest, with the three-car lock-up garage a big drawcard for car enthusiasts and others seeking additional storage space in a sought-after inner-city location.

The buyers were a young couple, while the underbidder was another would-be owner-occupier who had only seen the home 10 minutes before the auction kicked off. She bowed out with a final bid of $1.8m.

Justin Nickerson, of Apollo Auctions, helmed proceedings, with three investors and seven owner-occupiers among the registered bidders.

Mr Argent said he had completed extensive upgrades since taking ownership of the home.

"It was nothing like it is now. It was this weird purple colour and it had these terrible tiles," he said.

"We jackhammered all of them up and did beautiful Australian timber floring and re-painted it, inside and out."

High-end fixtures and finishes were installed throughout, while the bathrooms were given a designer makeover and the original lacklustre garage transformed into epoxy-floored showroom for Mr Argent's "toys", including a motorbike and scooter.

"I was still selling property at the time, mainly in Paddington, and it was almost unheard of to get more than a double garage," he said.

While personal circumstances spurred the sale, Mr Argent said market conditions favoured vendors as listings remained low across Brisbane's most popular suburbs.

"There is an incredible shortage of properties available at the moment and I think that is demonstrated by the fact we had 10 registered bidders ere," he said.

"It has worked out well for us, as sellers, that there is very little for sale, but if you want to buy something there is very little to choose from."

UrbanX CEO Dan Argent

1:14 pm November 18, 2023

Sought-after school zone sparks bidding war for family home

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A Holland Park home owned by the same family for 80 years sparked a bidding war before selling under the hammer for $1.221m.

The two-bedroom, one-bathroom house on a 665 sqm lot at 88 Abbotsleigh St was marketed by Ray White agents, Piers Crawford and Benjamin Austin.

Apollo Auctions director Justin Nickerson said proceedings opened with a bid of $1.1m from among eight registered bidders, with a fiery exchange of bids between the last two remaining buyers before the hammer fell.

Mr Crawford said the lovingly maintained property's location within the catchment zone for several sought-after schools drew strong interest from both local and interstate families.

A Melbourne engineer secured the keys, with plans to move his wife and twin baby boys to the Sunshine State in time for Christmas to pursue a local job opportunity.

"He flew up on an early flight today and will be flying back this afternoon. I gave him a bottle of champagne to take back with him to celebrate with his wife," Mr Crawford said.

"They had been looking around in the Holland Park area for a while and they had their hearts set on good school catchment and good community vibe.

"But there aren't a lot of listings that come up here because people buy and they like to stay."

Mr Nickerson described the unrenovated house as "a project on a good-sized block", and the buyer already seemed intent on getting to work with a planned extension, measuring up the home following his winning auction play.

"Generally people prefer to buy a property that has already been renovated, but given the fact there isn't a huge amount of listings in the area some people will work with what they can get," Mr Crawford said.

The house was located within the catchment zones for Cavendish Road State High School and close to Lorette College and Vilanova College, and was within walking distance to local coffee shops and restaurants.

It was sold on behalf of third generation owners from one family.

PropTrack data shows the median house price in Holland Park is $1.193m.

88 Abbotsleigh St, Holland Park 2/1/1

12:30 pm November 18, 2023

Investor sells up, first-home buyer scores $600k entry

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5/17 Elystan Rd, New Farm 2/1/1

Brisbane's rental market's loss is a first-home buyer's gain, with a two-bedder in trendy New Farm sold under the hammer for $600,000.

It was the first sale from Saturday's River City auction roster. The unit within a 'historic but modernised' building of 6 at 5/17 Elystan Rd was marketed by Brooke Hawthorne and Rachel Witteman, of Belle Property Ascot.

Apollo Auctions director Justin Nickerson said two bidders had registered, with proceedings opening at $500,000. Both were first-home buyers.

The first-floor unit, which is currently tenanted until August 2024, was conveniently located close to restaurants, cafes, shops and transport.

"It's an ideal choice for those who want to experience the inner-city lifestyle, within walking distance to various attractions and amenities that New Farm has to offer," the listing stated.

The unit in a 1945-built building last sold for $425,000 in 2014 to a NSW-based investor. It had been rented out since, and was last advertised for rent at $395 per week in 2016, property records show.

PropTrack data shows unit prices in New Farm were up 5.3 per cent over the past 12 months to a median of $790,000.

The data reflects surging buyer demand, with 4419 interested buyers for every unit listed in the hotspot.

11:41 am November 18, 2023

Buyer 'stop the auction', snag acreage with 11th hour offer

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576 Upper Brookfield Rd, Upper Brookfield 2/1/2

This acreage home in tightly held Upper Brookfield was sold for $1.31m the night before it was due to go under the hammer after a family made the vendors an offer high enough to "stop the auction".

"I sold it last night to some people who wanted to come through and then put in a late bid to try and stop the auction," said marketing agent Kel Goesch, of Brisbane Real Estate Indooroopilly.

"They wanted to avoid the competition and it was a stronger offer than where the rest of the interest had been sitting.

"The buyers had also just sold their house, so it was a case of good timing and they bought well too, getting into acreage in Upper Brookfield at that price is excellent value," he said.

Described as a "hinterland entertainer", the property comprises a two-bedroom, one-bathroom home with a flexible floorplan, plus a separate studio or office space, with expansive decks and a pool.

The house is set back from the road on a mostly clear 1.74ha parcel framed by bushland.

Interior features include hardwood timber floors, high ceilings and a slow combustion fireplace, while French doors open onto wraparound verandahs overlooking the poolside terrace.

Mr Goesch said demand for acreage properties had remained strong since the pandemic race for space, which saw many interstate families and city dwellers splash big bucks for hinterland estates.

He said about 70 per cent of interest was now from families already residing within 10km of the city. PropTrack data shows Upper Brookfield is a particularly tightly held market, with 800 buyers interested in every house listed for sale, but only 8 sold in the past 12 months. Houses in the suburb are typically snapped up within 17 days.

10:33 am November 18, 2023

Owners double gains on 'half-renovated' Queenslander

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7 Burilda St, Hendra 4/2/3

This elegant Queenslander in a prestigious Hendra location sold under the hammer for $2.7m, with the owners doubling their gains after completing a "showstopping renovation" last year.

Two local families competed at auction for the 1925-built home on a 721 sqm parcel at 7 Burilda St. Apollo Auctions director Justin Nickerson took an opening bid of $2.5m, prompting "competitive bidding" from both parties until the hammer fell.

Marketing agent Jessica Vine, of Vine Property Agents Hendra, described the property as "a big, beautiful family home in one of the best streets of Hendra".

Property records show vendors Brendan and Nicole Shambrook purchased the home for $1.315m in 2019, undertaking significant upgrades including adding in a contemporary downstairs living space plus al fresco entertaining pavilion and pool.

The original Queenslander had been raised and extended by previous owners, then updated by the Shambrooks, with fresh black-and-white paint creating a striking contrast against the modern landscaped entry.

"It had been half-renovated by the current owners," Ms Vine said. "Upstairs is original but has been maintained."

She said the vendors sold to move closer to family on the coast.

The two-level home comprised three bedrooms, a study or playroom, plus family bathroom upstairs, while the luxurious downstairs retreat floor featured a four bedroom, designer bathroom and large open living space, with bifold and French doors opening onto al fresco areas.

Original features included 3m-high ceilings, sash windows, restored timber floors, VJ walls and decorative fretwork.

PropTrack data shows house prices in Hendra were up 6.9 per cent over the past 12 months, to a median of $1.7m.

9:46 am November 18, 2023

First-home buyers hot for post-war charmer

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15 Templeton St, Virginia 3/2/2

Six young couples competed for the keys to this very tidy three-bedroom, two-bathroom post-war home in Virginia. It sold for $902,000 to first-home buyers who were represented at the on-site auction by a buyer's agent. The property was marketed by Ray White Ascot agents Kate Collingwood and Chrese Morley, with auctioneer David Treloar taking the helm this morning.

Mr Treloar announced the home "on the market" following a bid of $892,500, prompting the 3 remaining active bidders to raise paddles with their final offers before the gavel fell. Mr Morley said the home had attracted "massive" interest from first-home buyers, with more than 65 inspections conducted and 8 written offers received prior to auction day.

"They were all young couples looking for their first home," Ms Morley said.

"It was actually really heartening to see so many active buyers out. People have decided they are ready to get into their new home prior to Christmas."

Situated on a level 405 sqm block in Virginia close to the border of Wavell Heights, the home's features included polished hardwood floors, air-conditioned living areas, a rear entertaining deck and two-car lock-up garage.