$5.56m payday for adjoining homes in family for generations

ADJOINING Gold Coast homes, which have been in the same family for 63 years, have sold for $5.56 million.

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ADJOINING homes in Currumbin’s mini Multi-Millionaires’ Row, which have been in the same family for 63 years, have sold for $5.56 million.

The deal is a record for a property transaction in beachfront address Pacific Pde.

Ed Cherry, of Sophie Carter Exclusive Properties, yesterday said the sale of 798 and 800 Pacific Pde to a Sydney buyer was made off-market and was a quick one that already had settled.

Adjoining homes in Currumbin’s mini Multi-Millionaires’ Row, which have been in the same family for 63 years, have sold for $5.56 million.

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“The terms, an unconditional contract with a 14-day settlement, reflect the appetite within the market for beachfront properties.

“The owner in this case had knocked back $5.2 million eight months earlier.”

Mr Cherry said properties in Pacific Parade, home to Currumbin landmark Elephant Rock, rarely were put on the market.

“The chance to buy two, and to create a potential development site of nearly 800 sqm, might not be seen again for a long time.”

The properties, each on a 392 sqm site, were bought by Brisbane’s McCurran family in the late 1950s.

Adjoining homes in Currumbin’s mini Multi-Millionaires’ Row, which have been in the same family for 63 years, have sold for $5.56 million.

A home that is used for holiday letting is on one site and three units on the other property.

Each site had a June 2020 rateable value of $2.4 million and the new owner has paid nearly $7100 a square metre.

Adjoining homes in Currumbin’s mini Multi-Millionaires’ Row, which have been in the same family for 63 years, have sold for $5.56 million.

Sales above $2 million have become common in Pacific Pde, with some above $3 million.

The highest price for a house, at $4.6 million, was paid in 2014.

Last year Hobart publican John Fugslang, who in 2011 paid $2.44 million for a tri-level Pacific Pde house, bought the adjoining Elephant Rock cafe property for $3.5 million.