Currumbin record may fall to Waikiki
AN ‘old lady’, in the form of a near 75year-old house, could be set to underwrite beachfront Currumbin address Pacific Pde as a mini Millionaires’ Row.
The parade, synonymous with the landmark that is Elephant Rock, is something of an idyllic sleeper compared to the illustrious northern address of Hedges Ave.
Its homes are far less ostentacious than those in the Mermaid Beach street that has become widely known as Millionaires’ Row and which holds the Gold Coast record, at $27 million, for a house.
Pacific Pde also differs from the Mermaid beachfront in that its homes are separated from the sand and the sea by a road.
The street has retained a lot of its original charm, despite for many years drawing buyers with more than a million dollars to spend.
In fact, in the past five years there has been a rash of sales above $2 million, some exceeding $3 million, and two topping $4 million.
Now the owner of a threebedroom home built in 1945 – that never has left the original family – has put it on the market.
The 800 Pacific Pde property long has been rented out to holidaymakers, apparently achieving $1000 a week or more, depending on the time of year.
The house, given its beachfront spot, is appropriately called Waikiki and it sits on a 392sq m site that is zoned medium-density.
The site can take a building of up to three levels, lending
itself to a luxury house or up to three top-shelf apartments.
Just what the Brisbane owner of the property, Judy McCurran, is seeking has not been revealed but the rateable value for the site is $2.1 million and a buyer almost certainly will have to pay well north of that figure.
The most expensive sale in Pacific Pde appears to have come in 2014 and involved an older-style home on a 417sq m site that sold for $4.6 million.
During the marketing it was trumpeted that the property had increased in value by at least 15 per cent for each of the previous 30 years.
In late 2017 a six-bedroom house at Pacific Pde’s southern end sold for
$4.4 million.
John Fuglsang, from Hobart, is among those who have splashed out millions to lap up Pacific Pde’s beachfront atmosphere and café-like charm – literally.
The publican spent $2.44 million in 2011 on a trilevel, four-bedroom house and last year poured out $3.5 million to buy an adjoining property that’s home to the Elephant Rock Café.
The agent charged with selling the McCurran property is no stranger to operating in beachfront suburbs.
Renee Pannekoek, of Coast Creek and Country Realty, spent 15 years at Manly in Sydney, selling property in the city’s northern beaches. Her resume will look great if she sells the Pacific Pde property – she’ll be able to say she sold Waikiki.