A SUBURBAN acreage estate that set the sales record for its Ashmore street has raised the bar after fetching an extra $500,000 in a multimillion-dollar deal.
The Hillview Pde property sold for $2.5 million in January 2008, setting the benchmark for the highest price paid on the street.
More than a decade later, the property still holds the record but it has jumped to $3 million after a local couple snapped it up this month.
Knobel and Davis agent Darrell Johnson, who handled the sale with agency principal Kerry Davis, said the buyers would leave their waterfront Sorrento home to live in the six-bedroom Ashmore house.
“They just wanted more space and privacy,” he said.
The seller spent about $1 million renovating the inner-city retreat, which has a pool and spa, home theatre, firepit and studio apartment.
Property records show it had been on the market for about a year before it sold, initially listed with a $3.95 million price tag that was slashed throughout the campaign.
Despite selling for much less, Mr Johnson said it still marked a milestone.
“This has set the precedent,” Mr Johnson said.
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“If you want inner city acreage, (Hillview Pde) is where you’ve got to be.
“It’s the closest you’re going to get to Surfers Paradise, the CBD or the beach that (has) acreage properties.”
He said there were only 36 acreage properties on the tightly-held street, and rising property prices would only make them more difficult to acquire.
Latest CoreLogic data in the year to February showed the median house price in Ashmore was $585,000.