The original home, which spans two titles and constitutes the largest privately held property along Currumbin’s beachfront, is expected to attract brisk bids when it goes under the hammer on Friday.
The deceased’s estate on a 1,138 sqm lot at 746 Pacific Pde will be sold by Troy Dowker of Kollosche and auctioned by Justin Nickerson of Apollo Auctions.
Dowker said the prized site, with its huge 20.4-metre frontage across from the iconic Elephant Rock, has attracted widespread interest from prospective buyers.
He said he intended to build one or two luxury homes on high ground to take advantage of the spectacular 220-degree views from Surfers Paradise to Coolangatta.
“The vantage point out there is incredible,” said Dowker.
“I have never seen a property of this size on the market in many years with such unique characteristics.
“The 20-meter-wide block is a very special attribute, and spanning two titles gives buyers several options for redevelopment.”
Developers can take advantage of the site’s medium-density residential zoning to propose boutique apartment projects in popular southern suburbs.
Dawker said he was “very confident” the property would be sold.
A large crowd is expected for the auction event
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The on-site five-bedroom, three-bathroom brick-and-tile home was built in the 1990s by late owner Beverly Jorgensen and her husband.
Property records show that the family previously owned only one title, but 40 years ago they acquired an adjacent piece of land from a neighbor for just $50,000.
Greg Jorgensen, son of Mrs. Jorgensen, a Brisbane management brokerage, listed the property early last year on the condition that his mother, then 86,’s lifetime lease was included in the sale.
However, the estate was withdrawn from sale and Madame Jorgensen died a few months later.
This home offers dual living, with an upstairs open plan living and dining area, master bedroom and east facing balcony with stunning ocean views.
Downstairs there is a second kitchen with lounge and dining area, two bedrooms, a bathroom and a laundry.
Currumbin home prices have fallen 4.8% over the past 12 months to a median of $3.8 million, according to PropTrack data.
Property prices along the stretch soared during the pandemic, setting new highs in May 2021 with the $11.3 million off-market sale of a 1,283-square-meter block at 16 Dhawara Avenue.