A lady gave the RSPCA her beachfront property as her last gift, giving them a staggering $2.7 million windfall.
The prior owner, a lady who paid $79,950 for the dead estate on 28 Arthur St., next to Mermaid Beach, gave it to the animal welfare organization.
The summer auction event hosted by Ray White Burleigh Group on Saturday featured its sale as the primary attraction.
Tiger Malan, CEO of the Ray White Burleigh Group, told Realestate.com, “That’s a tremendous achievement for the organization.”
It actually sold for $450,000 more than the reserve price, or 20% more than anticipated.
In Mr. Malan’s opinion, the home would probably be demolished since the beach’s 200-meter proximity to the 405-square-meter property is its best selling value.
26 parcels were offered for sale at the weekend auction, which netted a total of $30 million in real estate.
Ten or more properties are still the subject of negotiations.
According to Mr. Malan, the 300-person attendance at the auction proves there is still a healthy demand for beachfront residences.
When it comes to premium real estate in certain beachfront locales, the region is defying the Australian trend of a real estate decline, he said.
»A $2.7 million Mermaid Beach property sold to the RSPCA«