Surfers Paradise Mantra unit liquidation sale cheapest weekend result

Surfers Paradise Mantra unit liquidation sale cheapest weekend result
Surfers Paradise Mantra unit liquidation sale cheapest weekend result

The lowest price paid at big weekend auction, The Event was $136,000 for a one-bedroom furnished hotel room at Surfers Paradise.

The 1417 Mantra on View unit is holiday let though on-site managers with owners allowed to stay for 28 days per year.

It last sold in 2009 at $219,500 to a WA investors.

“The strong contingent of local buyers was the big surprise of the day,” said Andrew Bell, the CEO of Ray White Surfers Paradise Group. 

Among the properties passed in was a grand three-storey historic home at Warwick known as The Abbey. The property boasts 50 rooms, a chapel, grand dining room and function rooms.

A five-bedroom waterfront home with Florida-style architectural elements at 80 Admiralty Drive, Paradise Waters, was passed in at $4 million. It had been on and off the market for two years without success.

“We’re expecting to secure sales for a number of properties passed in over the weekend over the coming weeks,” Mr Bell said.

Strong interest from interstate buyers didn’t translate to strong bidder numbers at Ray White Surfers Paradise’s The Event on Sunday.  
 
Some 41 properties worth $35.4 million sold at the auction where 170 registered bidders, mainly from the Gold Coast and Brisbane, registered to bid.
Ten properties sold prior to auction among the 80 plus offerings.

RWSP Group CEO Andrew Bell said they had over 2000 inspections on properties over the last four weeks," Mr Bell said.

Bell had tipped interest from southern buyers to lead sales.

Mantra's resales have been loss making for some time. A sale last November was at $148,000 having sold at $320,000 in 2006, according to CoreLogic. 

Tags: 
apartment Surfers Paradise

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