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Bidders hot for demolition-approved property close to CBD

first_imgA crowd of about 80 turned out for the auction at 12 Kerr St, Toowong. Pic MARK CALLEJATHE auction of a Toowong property on three lots ended in a two-horse race between keen bidders before selling under the hammer. The classic Queenslander on a 1215sq m block at 12 Kerr St sold for $1.86 million on March 4.Heading into the auction, the property was divided into six self-contained bedsits and had demolition approval in place. Place Paddington marketing agent and auctioneer, Andrew Degn said the home had been in the vendor’s family for some time and the vendor opted to go to auction to get the best price.The Saturday afternoon auction attracted at least 16 registered bidders and a crowd of about 80 people. An opening bid of $1.4 million kicked off proceedings with four buyers actively bidding. Auctioneer Andrew Degn starts the auction of 12 Kerr St, Toowong. Photo: MARK CALLEJAMr Degn declared the property on the market at $1.56 million and the last two bidders standing pushed the price up to $1.86 million. “It was very competitive bidding and a very good result — higher than reserve,” Mr Degn said.“I thought it would sell for a little less but the auction process got underway and we got a bit of competition.“The final two bidders definitely wanted it.” Mr Degn said the new owners planned to keep the property as an investment for the time being. More from newsMould, age, not enough to stop 17 bidders fighting for this home2 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor8 hours ago“They have long term plans but nothing much will happen here for a while,” he said. The auction of an award-winning home in Grange attracted a similar crowd to Kerr St, and sold under the hammer for $1.46 million.The original character home at 9 Jean St was renovated and extended to include six bedrooms, three bathrooms and a covered entertaining area with in-ground pool. The home at 9 Jean St, Grange sold at auction for $1.46 million.Ray White Ascot marketing agent, Damon Warat said seven bidders registered for the auction on Saturday, March 4. Bidding kicked off at $1 million and progressed through to $1.46 million with four buyers taking a punt. “It was smooth and spirited bidding,” Mr Warat said. “The only instruction we need was approval to announce it on the market.” center_img The auction of 9 Jean St, Grange attracted a crowd for more than 60 people.The successful bidders were a local couple with three children.The couple, who asked not be named, said they were looking forward to moving in to their new home. Mr Warat said being a nice home on a big block of land, the property attracted strong interest.“It had what a lot of people are looking, which is that kitchen that flows out to an entertaining area,” he said. “We had around 100 people come through the property and we had multiple offers.”last_img read more