798-800 Pacific Parade, Currumbin, has sold for $5.65 million.
A prime block across from Currumbin’s beachfront has sold off-market for $5.56 million.
Comprising two lots of less than 400 sqm each, the property has been in the same family for more than 60 years with custodianship in the hands of one of the original owner’s daughters, which data records show to be Judy McCurran.
The block is opposite the beachfront on sought-after Pacific Parade.
Situated at 798-800 Pacific Parade, and housing a beach shack and a small block of apartments, the property first went on the market in 2019, but was subsequently taken off market in July after the owners failed to receive an agreeable offer.
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Selling agent Ed Cherry of Sophie Carter Exclusive Properties said the owner had previously rejected offers in the low $5 millions before accepting a $5.56 million deal with a 14-day settlement from a Sydney buyer yesterday.
The back of the double block.
He said the sale was rare given the limited number of blocks available along what is one of the Gold Coast’s most tightly-held streets.
“If you think there are probably no more than 45 to 50 blocks along that beachfront, it’s not often that properties come up,” he said.
One of the block currently houses a small block of units.
“You might get a single block maybe once a year, but hardly ever a double block like this, which has been in the same family for 60 years.”
Mr Cherry said the price attained was incredible considering the size of the blocks, which together total less than 700 sqm, but it was an indicator of the pure attraction of property in Currumbin.
“The price paid is extremely high considering it works out at more than $7000 a square metre,” Mr Cherry said.
The views from the shack on one of the blocks. The future of the block has yet to be determined.
He said with the mega prices being achieved in neighbouring Burleigh, buyers no longer able to afford the popular headland spot were turning to surrounding areas such as Currumbin, Palm Beach and Bilinga, which in turn was pushing up prices in those locations.
The sale will no doubt spark speculation among locals about what will become of the prime piece of property.
Although small, it could accommodate a boutique development, provided it remains within Currumbin’s 15m or three-storey height limit.
However, Mr Cherry said the buyer had not yet made his intentions for the block clear.
The sale supersedes the previous record sale price for a property on the street, which stood at $4.4 million. The sale in 2014 was for a four-bedroom home on a 417 sqm block at 764 Pacific Parade.
No 762 Pacific Parade recently went under contract for $3.9 million. The four-bedroom home was sold through Mark Ryan and Kazu Takeo of Currumbin Realty.
