$8.4m buy smashes Brisbane auction record

A luxury home on the edge of the Brisbane River has sold for $8.4m under the hammer, becoming the city’s largest-ever sale at auction.

A luxury home on the edge of the Brisbane River has sold for $8.4m under the hammer, becoming the city’s largest-ever sale at auction.

The property at 95-99 McConnell St in the trendy inner east suburb of Bulimba sits on a double block with 32m frontage and uninterrupted views of Brisbane River and Hamilton Hill.

Three groups registered to bid for the property on Wednesday night, with the auction opening at $5.5m.

One group quickly bowed out of the race, leaving the final two groups offering rapid-fire bids over the span of 15 minutes, slowly adding almost $3m to the pool.

A young family from the north side of the Brisbane placed the winning bid of $8.4m.

Marketing agent Sarah Hackett, of Place Bulimba, says both cash-ready local bidders had viewed the property several times prior to auction.

“It is obviously a fair bit above reserve but I always expected it to be competitive.

“It was a two-horse race in the end and both said they bid more than they had wanted to,” Hackett says.

“I can’t say to them ‘don't worry, there is another (riverfront home) coming on the market around the corner’. I mean, this is the lowest amount of riverfront stock that’s ever been on the ­market .

The five-bedroom home sits on a rare 1473sq m north-facing block.

Grand interiors take advantage of the views, with the large indoor living areas framed by light-filled archways that lead to outdoor ­entertaining spaces.

The renovated kitchen has high-end appliances integrated into the light wood cabinetry and a large island bench. All bedrooms are oversized, with the master suite offering two generous his and hers styled walk through robes that lead to the shared ensuite.

Outside, a covered alfresco and garden pavilion frame the pool and manicured lawns and overlook the two deepwater mooring pontoons that lead down to the river.

The record for the largest sale at auction was previously set in March, when property developor Kevin Seymour purchased a Griffith St, New Farm, home for $7.75m in auction negotiations.

Hackett, who has lived and raised her family in Brisbane’s inner east, says the home will be perfect for the family.

“This is a beautiful family that thought this purchase would be a life journey for the kids — to enjoy something as much as we do.

“There’s so much lifestyle,” she adds.