BID­DERS IN BAT­TLE FOR A BE AUTY

Townsville Bulletin - - NEWS - CHRISTIE AN­DER­SON

A TOWNSVILLE cou­ple has snapped up one of Townsville’s most iconic homes for a cool $ 1.825 mil­lion af­ter it sold at auc­tion.

More than 100 peo­ple turned up to the auc­tion held at the site of the home at 9 Cleve­land Ter­race, North Ward, on Thurs­day night.

The bid­ding opened at $ 1.3 mil­lion while there were 12 reg­is­tered bid­ders.

Har­courts Kings­berry Townsville selling agent Julie Ma­honey said it was a pleas­ing re­sult for the ven­dors.

“With 12 reg­is­tered bid­ders and some com­pet­i­tive bid­ding it found its place on the mar­ket on a cash un­con­di­tional ba­sis,” she said.

“It was bought by a lo­cal young cou­ple from a well- known fam­ily.”

The three- bed­room, two- bath­room Cal­i­for­nian bun­ga­low has sweep­ing views of Pal­larenda, Mag­netic Is­land and Cas­tle Hill. It was the first time the home had been on the mar­ket in 44 years af­ter be­ing bought by co­found­ing direc­tor of the North Queens­land Cow­boys Max Short in 1973. Mr Short died last year, aged 89.

TOWNSVILLE’S fa­mous white house on the hill has sold un­der the ham­mer for $ 1.825 mil­lion.

The iconic home at 9 Cleve­land Ter­race, North Ward, sold at an on­site auc­tion on Thurs­day night with 12 reg­is­tered bid­ders fight­ing it out.

The home was bought by a lo­cal cou­ple be­lieved to be from a prom­i­nent Townsville fam­ily.

The bid­ding opened strongly at $ 1.3 mil­lion and kept go­ing be­fore it halted and auc­tion­eer Justin Nick­er­son paused pro­ceed­ings to con­sult with the ven­dors and high­est bid­der.

Bid­ding re­sumed with Mr Nick­er­son telling the crowd the house would be sold be­fore the win­ning bid of $ 1.825 mil­lion was called.

The six- fig­ure sale comes as Townsville’s auc­tion clear­ance rate sits at about 40 per cent, com­pared to Bris­bane’s at 48 per cent.

Har­courts Kings­berry selling agent Julie Ma­honey said it was not just mul­ti­mil­lion- dol­lar prop­er­ties that suited auc­tions. She re­cently auc­tioned a house at Heat­ley on the same street as other prop­er­ties which had stayed on the mar­ket for some time.

“But this ( 9 Cleve­land Ter­race) was such a beau­ti­ful auc­tion prop­erty to have be­cause it had po­ten­tial with the land size which could be re­con­fig­ured to have two ti­tles,” she said.

Ms Ma­honey said auc­tions also avoided many of the pit­falls of buy­ers pulling out of a sale and re­moved any guess­work in re­gards to price.

“I prob­a­bly do more auc­tions than most peo­ple do and it just re­moves any com­pli­ca­tions,” she said.

“It re­moves the fi­nance clause, peo­ple chang­ing their minds and ven­dors are sure of a re­sult.

“You get to go to mar­ket with­out a price … be­cause there is some­times vari­a­tions be­tween val­uers and in this mar­ket no one can pin­point the value.

“In this mar­ket the only per­son that de­ter­mines the value is the buyer.”

There are sev­eral key dif­fer­ences when a home is sold at auc­tion com­pared to pri­vate treaty.

There is no cool­ing off pe­riod so once the ham­mer falls on the high­est bid the prop­erty is sold.

Checks such as due dili­gence and build­ing and pest in­spec­tions must be done be­fore the auc­tion, while fi­nance also needs to be ar­ranged be­fore­hand.

Mr Nick­er­son, who trav­elled from

Bris­bane for the auc­tion and is the REIQ Aus­tralasian auc­tion­eer of the year, said an auc­tion was still a good choice for buy­ers de­spite Townsville’s soft mar­ket as selling un­der the ham­mer moved homes quickly.

“It tends to shorten your days on the mar­ket which is an im­por­tant thing in this sort of mar­ket,” he said.

“In de­sir­able ar­eas like Bris­bane or Sydney you might do an auc­tion be­cause you’re go­ing to have a lot of buy­ers but here you want to do it be­cause you don’t want to go to the mar­ket with the wrong price.

“You want to go out there and test the mar­ket which auc­tions al­low.”

Realestate. com. au chief econ­o­mist Nerida Con­is­bee said while a 40 per cent auc­tion clear­ance rate was low, it was of­ten hard to get an ac­cu­rate statis­tic in cities like Townsville where there was not a high vol­ume of turnover. “It’s not re­ally a good statis­tic for places like Townsville com­pared to Mel­bourne or Sydney be­cause not as many homes go to auc­tion to get a re­al­is­tic pic­ture,” she said. “Some places in Townsville are ex­pe­ri­enc­ing re­ally strong growth and oth­ers aren’t.

“A lot of peo­ple still don’t bother go­ing to auc­tion in Townsville and that makes sense in a mar­ket that’s not su­per strong.”

LO­CA­TION: The $ 1.825 mil­lion home on Cleve­land Ter­race and ( main) real es­tate agent Julie Ma­honey. Main pic­ture: ZAK SIM­MONDS

PROP­ERTY FEA­TURES

Three bed­rooms, two bath­rooms, three car spa­ces.

Cal­i­for­nian bun­ga­low with clas­sic tim­ber fram­ing, case­ment win­dows, tra­di­tional light fit­tings and crown mould­ing.

3656sq m of land over two al­lot­ments.

Panoramic views of Mag­netic Is­land, the port, city and Cas­tle Hill. Two separate liv­ing ar­eas. Cov­ered pa­tio and man­i­cured lawns. Mas­ter suite with walk- through wardrobe and en­suite bath­room.

Main bath­room has mar­ble tiles, bath and large van­ity.

For­mal din­ing room.

Pic­ture: ZAK SIM­MONDS

IM­PRES­SIVE VIEW: Bid­ders at the auc­tion for 9 Cleve­land Ter­race, North Ward.

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