Toowoomba penthouse at Grosvenor Apartments sells at auction with Qld Hot Property for unit record price of $2.61m

It’s got a floor plan larger than most people’s entire properties and hasn’t changed hands in more than 15 years. Now a luxurious penthouse has sold at auction for a record price. See details here:

A beautiful top-floor penthouse with a floor area larger than most people’s houses has set a Toowoomba record for a unit sale, after a buyer snapped it up for $2.61m.

Qld Hot Property handled the sale of the massive unit at the Grosvenor Apartments on the corner of Herries Street and Tourist Road in East Toowoomba.

It was the first time in more than 15 years that the penthouse had changed hands, with the previous owners having bought it off the original developer Ian Knox.

Lead agent Leon Carlile said the five-bedroom, four-bathroom unit, which has a floor space of nearly 500 sqm, was hotly contested by four keen buyers.

RECORD SALE: The penthouse unit at the Grosvenor Apartments on Herries Street in East Toowoomba sold at auction through Qld Hot Property for a Toowoomba record $2.61m.

“We had four registered bidders on the day, we started the bidding at $1.7m, and from the $2m mark to the selling price we went in $10k rises, so the ultimate buyer was tickled pink,” he said.

Mr Carlile said he wasn’t surprised by the strong interest considering the space and views the unit offered.

It’s got to be the views, they’re the best views in town, because you both look out the range and back over the city,” he said.

RECORD SALE: The penthouse unit at the Grosvenor Apartments on Herries Street in East Toowoomba sold at auction through Qld Hot Property for a Toowoomba record $2.61m.

It comes as the median price of units in Toowoomba continues to grow, with new data from the Real Estate Institute of Queensland revealing 7.34 per cent growth in the past quarter to $343,000.

It means the Garden City now has a higher average price for a unit than centres like Bundaberg, Gladstone, Mackay, Rockhampton and Townsville.

RECORD SALE: The penthouse unit at the Grosvenor Apartments on Herries Street in East Toowoomba sold at auction through Qld Hot Property for a Toowoomba record $2.61m.

Mr Carlile said unit prices would continue to improve across Toowoomba as attached living was embraced.

“You’d have to be very careful what you built (but) in the near future, it will be normal to pay over $1m for a unit,” he said.

“There are some very expensive units at Palm Lakes, so there is a need for up-market units.”