A KEEN buyer has splashed more than $1 million on a beachside villa just weeks
after it hit the market to stop it from going to auction.
The Mermaid Beach residence on Albatross Ave was due to go under the hammer tomorrow but sold two weeks after hitting the market.
It fetched $1.4 million – $600,000 more than it last sold for in 2001, according to property records.
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John Henderson Professionals Mermaid Beach partner Luke Henderson marketed the property with Matt Maguire.
He said the local buyer saw value in the property’s position.
“They felt that position was unique and to find that type of view at that price point made it really interesting,” he said.
“We had quite a busy open weekend in the days leading up (to auction).
“The buyer was going away so that was their motivation to wrap it up.”
Mr Henderson said despite it not being beachfront, the villa was good value for money as it still had ocean access through a private walkway.
The three-storey residence has four bedrooms and three bathrooms.
Three of the home’s four bedrooms are on the top floor, including the main with a spa ensuite and balcony overlooking the beach.
The open lounge room and dining zone, kitchen and outdoor entertainment area are on the ground floor while the home’s entrance, double garage and laundry are on the basement level.
Mr Henderson said a house at 37 Tamborine St, Mermaid Beach, also sold before it had a chance to go under the hammer. CoreLogic data shows it was on the market for 17 days before it was snapped up for $1.405 million.