'Phenomenal' unit sells for 10 times the median price

A building record has been smashed out of the park with the sale of a Mooloolaba unit for 10 times the suburb's median price.

Agent Simon Guilfoyle said stock at Mooloolaba was "tightly held”, driving up sale prices.

A BUILDING record in Mooloolaba has been smashed out of the park with the sale of a three-bedroom unit for 10 times the suburb's median price.

A family from Toowoomba sold their apartment in the Sea Pearl building on Mooloolaba Esplanade for a whopping $4.4 million yesterday.

The median unit price in the high-demand area was $405,000.

The unit's stunning views was a contributing factor for the record sale price.

The three-bathroom, double car space apartment was on the market for less than a month before it was sold, Simon Guilfoyle of G1 Property told The Courier-Mail.

"This is the highest price fetched for this building. It's possibly the second highest along the Mooloolaba esplanade," he said.

"It's a phenomenal building and the quality of the product is the best in Mooloolaba. They are rarely traded as well."

A three bedroom apartment at Mooloolaba sold for a whopping $4.4 million, 10 times the median unit price in the area.

The stunning views across the water and the apartment's 274sq m size helped drive the price up, as well as the fact that stock in the area was tightly held.

"Mooloolaba is coming into its own. In terms of new buildings of 10 stories or higher, there's only been three in the last 12 years, so it's stock that's tightly held," Mr Guilfoyle said.

Originally published as 'Phenomenal' unit sells for 10 times the median price