A Brisbane family has struck millions in the biggest sale in Queensland last week, selling off their home and one they bought off a neighbour as a package deal.
The family, whose name was withheld, landed $3.4 million off the sale of their neighbouring properties which have “uninterrupted views” of the Brisbane city skyline. It was the highest price fetched in Queensland of last week’s sales, according to CoreLogic.
CoreLogic records show they had bought a home on a hill in Holland Park West about two decades ago for $470,000 — $320,000 for a block the house was on and $150,000 for the tennis court block.
Then, just five years ago, they bought the neighbour’s home for $745,000, meaning they’ve scored $2.185m more than they officially paid in total.
Holland Park West is classified as a “high demand suburb” seeing almost three times as many visits per property as the Queensland average, according to realestate.com.au data.
The median house price was $690,000, according to REA, with four bed medians at $825,000, and rent at $593 a week.
Agent Darren Wells of Harcourts Beyond Sunnybank said the whole site covered over 3,000sq m.
“It’s two houses and a tennis court. The whole site is over 3000sq m so it wasn’t just the big house. They raised their family there and it’s time to move on.”
The deal was “unique” in that it offered “an additional adjacent property with a total land size of 1,316sq m including tennis court and separate four bedroom home”.
“The combined land size include each property is 3,238sq m allowing a buyer to build one of Brisbane’s largest homes or develop up to 17 townhouses, the option is yours.”
The site was marketed as having “an uninterrupted view of the city from every room” on a quiet road minutes from the CBD and major shopping centres.
24 Apr. 1998 $150,000 House and land
24 Apr. 1998 $320,000 Land
7 Jan 2015 Rebated Sale $745,000 House and land
1 Oct. 2019 $3,400,000 Package of two houses and tennis court