AN original home across two titles comprising the largest private holding along the Currumbin beachfront is expected to attract spirited bidding when it goes under the hammer on Friday.

The deceased estate on a 1,138sq m lot at 746 Pacific Pde is marketed by Troy Dowker, of Kollosche, and will be auctioned by Justin Nickerson, of Apollo Auctions.

Mr Dowker said the prized location opposite iconic Elephant Rock with a huge frontage of 20.4m had drawn wide interest from prospective buyers.

Most intended to build either one or two luxury homes on the elevated site to capitalise on spectacular 220-degree views from Surfers Paradise to Coolangatta, he said.

Mega beachfront block to go under the hammer at Currumbin
It’s the largest private landholding on the beachfront

“The vantage point there is just incredible,” Mr Dowker said.

“I haven’t seen a property of this scale and with such unique attributes come to market for many years.

“The 20m-wide block is a pretty special attribute, and being across two titles gives the buyer some options around re-development.”

Developers could take advantage of the site’s medium density residential zoning to propose a boutique apartment project in the sought-after southern suburb.

Mr Dowker said he was “very confident” the property would sell.

The five-bedroom, three-bathrrom brick and tile home on the site was built in the 1990s by late-owner Beverley Jorgensen and her husband.

The family had previously owned just one of the titles, but acquired the adjoining lot from their neighbour 40 years ago for just $50,000, according to property records.

Mrs Jorgensen’s son, Greg Jorgensen, a Brisbane management rights broker, had listed the property early last year, on the condition the sale would include a lifetime tenancy agreement for his mother, then aged 86.

Your front yard

But the property was withdrawn from sale and Mrs Jorgensen passed away months later.

The house offers dual living, with stunning ocean views from the upper-level open-plan living and dining area, master bedroom, and east-facing balcony.

Downstairs, there is a second kitchen with lounge and dining area, two bedrooms, a bathroom and laundry.

PropTrack data shows house prices in Currumbin have fallen 4.8 per cent over the past 12 months, to a median of $3.8m.

Property prices along the stretch soared during the pandemic, with a new high bar set in May 2021 with the $11.3m off-market sale of a 1,283sq m block at 16 Darwalla Ave.

Article source: Queensland Property Investor