Real estate agent Tony O’Doherty of Belle Bulimba confirmed to The Courier-Mail that the three bedroom riverfront home at 42 Quay Street in Bulimba had sold for $5.4 million.
The property which was listed as “Bulimba’s rarest offering of 2019”, was put up for sale by tender, which closed on Thursday. The result was announced Friday afternoon.
The owners had bought the property for $4.225m in February last year, with the property holding two major features in its favour — its absolute riverfront position and 1,012sq m block size. Add to that, the owners had also secured demolition approval for the house on site.
The new owners have multiple options including demolition and building a large dream home, subdividing and building two luxury homes on the property like the neighbours, or sitting on the current home in a form of landbanking.
The current owner has offered to pay $1,000 a week in rent until the new titleholders decide what they want to do with the property.
The home is a short walk to the very popular Oxford Street, and the median price of houses in Bulimba was $1.395m.
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