Buyers snap up massive land parcels at weekend auctions

Large land parcels attracted high prices and large crowds at the weekend’s most popular auctions.

44 Oxford St Hamilton

LARGE parcels of land were the main attraction at some of the weekend’s top auctions.

Fourteen registered bidders vied for a home on a 1998sq m elevated block at Bardon on Saturday. After a frenzy of fast bids, the five-bedroom house at 110 Carey St sold for $1.68 million to a young family.

Ray White Paddington Mathew Abboud said the home attracted attention because of its large block and potential to be renovated or demolished.

“Parcels of land like this don’t exist,” he said.

“The house is also very livable in an exclusive enclave of homes.”

On New Farm’s river front, a 810sq m double block on two titles sold under the hammer for $3.97 million to a local developer.

The deceased estate at 140-142 Oxlade Drive included a three-bedroom Queenslander and attracted 11 registered bidders.

LJ Hooker New Farm sales principal Brett Greensill said this was a massive result for the medium density zoned block, and a very high per square metre rate.

Fellow sales agent Jed Dziuma said he had received five offers on the property prior to auction and 83 people registered inquiries, with the majority of interest from developers.

History, as well as land size, attracted three registered bidders to 42 Kitchener Rd, Ascot.

42 Kitchener St. Ascot.

Known as Linstarfield, the five-bedroom home on 931sq m was built in the 1930s.

It featured dark timber floors, bay windows, plaster ceilings, and a conservatory with exposed brick walls.

Lynne Strange, who lived in the home between the 1950s and 1970s, attended the auction for old times’ sake.

“My parents bought the home for £10,000 and my sister and I grew up here,” she said.

But the home’s historic beauty and land size failed to attract a sale under the hammer, with the property passing in at $1.975 million.

Ray White Ascot sales agent Leigh Kortlang said while 70 people had attended open home times, the house was a very specific buy.

“It’s not typical of the homes we sell,” she said.

“Many people have the idea that they’ll buy something remarkable like this and renovate it fully, taking it to the next level.”

Meanwhile, in a suburb known for its top notch prices, a first-home buyer picked up a quaint two-bedroom Hamilton Queenslander for just $517,500 under the hammer.