Record $16.1 million luxury Noosa apartment auction

The Noosa LGA has had over 70 apartment sales over $2m so far this year
Record $16.1 million luxury Noosa apartment auction
The Hastings St apartment view. Image: Offermann Estate Agency
Jonathan ChancellorOctober 17, 2021

A record $16.1 million was paid at auction for a luxury Noosa apartment.

It was the top selling auction result among the 669 apartment auctions held over the past week, according to CoreLogic, which put the national success rate at 70 percent.

There was a national $807,000 median apartment sale.

There were the four phone bidders at the auction of the three-level Hastings Street apartment, located within the late 1980s Hastings Park complex.

Friday afternoon’s auction was held by Tom Offerman Real Estate.

The four-bedroom, four-bathroom apartment came with northerly views to Little Cove and First Point.

Record $16.1 million luxury Noosa apartment auction

It has been tightly held having last sold in 2004 at $4.5 million, and before that for $790,000 in 1993.

It was among the last sold in the 1989-built terraced complex of nine apartments.

Designed by John Dimitriou Architects (JDA), the terraced complex took four years to sell out for its Noosa Heads developer Brian Wood.

“Apartments of this calibre commanding such presence, rarely come to market,” noted selling agent Rebekah Offerman.

“Hastings Park’s history of back-to-back year-round bookings makes this a judicious one-off investment opportunity,” she added.

Record $16.1 million luxury Noosa apartment auction

Its peak season nightly rate has been $3100.

The price surpassed the previous record Noosa apartment sale of $14m in February last year elsewhere on Hastings St.

The Queensland auction apartment record was set this year at $15.25 million when the Soul penthouse at Surfers Paradise went to May auction.

The Noosa LGA has clocked over 70 apartment sales over $2m so far this year, compared to 55 apartment sales over $2m last year, above the 41 secured during 2019, according to CoreLogic.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

Editor's Picks

Batemans Bay apartment record smashed as Kailani penthouse sells
First look: Toohey Miller reveal new Woollahra apartment plans
Sekisui House Australia bring forward Veue Parkside, Norwest apartment release after sales flurry
Kokoda adds more apartments to Ruby Ruby in Milton
First look: Positive Invest reveal Bellevue Hill apartment plans