Sunshine Coast property: $400k footpath block still on the market

Four months after a 4.6m-wide Caloundra plot was controversially listed for sale with a price guide of $400,000, the property is yet to sell. VOTE IN OUR POLL

“Low ball” offers and unattractive sale conditions have prevented Caloundra West’s footpath block from selling according to the Sunshine Coast real estate agent tasked with the transaction.

The Leslie Cres block made headlines in December, 2021 when the 4.6m wide and 28.1m long plot was listed for sale for offers over $400,000.

The block currently has a footpath running down the middle of it.

The footpath was expected to stay there until the lease with developer Stockland expires later this year.

Richardson and Wrench Coolum agent James Henley said he received some offers on the property but none the owner was willing to accept.

He said the interest was from locals, as well as Brisbane, Sydney and Melbourne buyers.

“We have had consistent offers,” he said.

Offers have been made on a footpath block at Caloundra but none the seller was willing to accept.

“Even still now I’m getting emails.

“None at the right price point or the right conditions though.”

Mr Henley said the owner was not desperate to sell.

“I still think we will get the right price,” he said.

“There’s a good mix of what we would call low ball offers and then there’s a number of offers at the top of the price (around $400,000).”

The Sunshine Coast has experienced two years of house price growth with median prices now more than $1m.

The 4.6m wide block was advertised for sale with a price guide of $400,000.

In response to the suggestions the price listed was too high, Mr Henley said records were always being broken throughout the region.

“There were suggestions it was a higher price but most sales felt high at the time and then they were trumped by the next sale,” he said.

Property records show the block last sold mid-2019 for $150,000.

Mr Henley said it was not an emotional sale.

He said the next buyer could build a terrace home on the block.

“It’s a land bank (for the current owner),” Mr Henley said.

“The owner has experienced the growth (in the market) and now the development of this site will fall on to the next buyer.”

Stockland is leasing the block for the footpath until September this year for $15,000, with options to extend.

Originally published as Sunshine Coast property: $400k footpath block still on the market