No reserve auction for Tangalooma, Moreton Island residential block

No reserve auction for Tangalooma, Moreton Island residential block
No reserve auction for Tangalooma, Moreton Island residential block

A residential block of land at Tangalooma in Queensland will go to auction next month without a reserve.

“It’s a great chance for a buyer to purchase a property for what they see as the real value, rather than the vendor’s perceived value,” said Tony O’Doherty of Ray White East Brisbane, who is marketing the property along with colleague Frank Lombardi.

“The price will be dictated by the market. It could sell on the first bid; if somebody bids just once, it will be sold on January 20.

“For somebody who really wants to be on Tangalooma, there will never be another opportunity like this.”

The 496 square metre vacant block at 12 Triton Street is elevated, offering views across Moreton Bay to Brisbane and the North Coast.

Tangalooma is a resort on the west side of Moreton Island, with residential dwellings for its 300-plus population.

Tangalooma is 75 minutes from Brisbane on the ferry.

The offering has plans approved in 2009 for a holiday home.

“The current owners are a couple who purchased the property with their parents to build a holiday home but unfortunate circumstances have forced them to shelve their dreams, making way for someone else to instead see their dream come to life,” O’Doherty said.

He noted that there have been controversial ‘no reserve’ auction campaigns in the past, whereby other agents have misled buyers, with the properties sometimes being passed in at the end of the day and not actually selling, but he said this ‘no reserve’ auction was the real deal.

“In this particular case it means there will be a sale – there’s a 100% guarantee that if there’s a bid the property will be sold,” he said.

The property will be auctioned at 10.30am on Friday, January 20 on Level 26, 111 Eagle Street, Brisbane.

A nearby block at 10 Triton Street is listed at $199,000.

A three level house at 2 Triton Street is listed at $700,000 plus.

It is marketed as a holiday letting for $3,500 off peak or $5,000 peak per week or as a full time rental at $1,500 per week.

"Plus take advantage of not having to pay stamp duty due to it being an island," listing agent Teri Maguire said.

Auction Tangalooma


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