The owners of a cottage have spent decades rejecting offers… now they’re laughing all the way to the bank after selling it for a record price
A ‘tiny’ seaside cottage has broken sales records after its owners rejected offers for decades before finally deciding to put their property on the market.
The three-bedroom house on Mcilwraith Street in Moffat Beach, on Queensland’s Sunshine Coast, fetched $6.72 million at auction on Saturday.
About 80 people crammed into the home’s small living room to begin bidding for $3.5 million.
The home’s managers had rejected offers for decades before finally deciding to sell.
Property data shows no other residential property in the suburb sold for a higher price.
The only purchase that came close was of a house two doors down, which was bought by the RSL two years ago for $6 million.
David Millar Real Estate principal David Millar said home ownership at Moffat Beach has become a top status symbol among Queenslanders.
“Anyone who is anything now wants to be associated with the Moffat Beach precinct,” he said real estate.com.au.
The house was marketed as an opportunity for developers, but remains a residential property
The A-frame cottage was built in 1970 on a 506 square meter block.
The street has long been coveted for its uninterrupted ocean views and easy access to Moffat Beach.
‘This has unrestricted views to the north and no traffic between the island and the ocean. There is a lot of movement in unique real estate here,” Mr. Miller said.
About six of the original houses in the street remain, but both neighbors of the house have been occupied for several years.
“There’s a four-year-old house to the east and an older, renovated, large residence to the west of it,” Mr. Miller said.
The house was initially marketed as a development opportunity to turn it into units, but the young couple who bought it have decided to keep it as a residential lot.
The ad called it a “one-in-a-lifetime opportunity” for investors.
“Opportunities like this are rare in this exclusive district, known for its breathtaking scenery and vibrant coastal lifestyle,” it said.
‘Unrivaled investment potential, with strong prospects for capital growth in this well-occupied location.
‘Whether you are a savvy investor, a developer with vision, or a homeowner dreaming of a seaside retreat, this property offers endless possibilities.’