Real Estate

Tomic flicks old stomping ground at major discount

Written by The ReReport

Aussie tennis comeback king Bernard Tomic has jumped 69 spots in world rankings this year, but he’s had to take a major pay cut back in Queensland.

Tomic, who’s currently ranked 83rd in the world, is gearing up to show off his new-found form in the upcoming Australian Open at the end of the month — having come off his first ATP win of the year at the $1.18 million Chengdu Open in China.

But newly released CoreLogic figures show that the family’s duplex in Southport on the Gold Coast has not seen as much luck, selling at an almost 25 per cent discount on the Tomic’s initial listing prices.

The 26-year-old has worked hard to claw his way back into the winner’s circle on the international tennis circuit, beginning with his first title in three years at the inaugural Rafa Nadal Open in Mallorca, Spain earlier this year.

The Tomics’ duplex, which has been on and off the market since 2009, has two apartments on separate strata titles.

The four bedroom, three bathroom unit sold for $610,000, the records said, a massive $210,000 discount on the price the Tomics had listed it for in 2009.

The second unit, which has three bedrooms, two bathrooms and a powder room, sold for $567,000, a discount of $183,000 on the price it was listed for in 2012.

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But the good news was that the Tomics still got much higher prices than they had paid for the properties — about $270,000 more than they’d paid for the four bedroom apartment in 2004 and $67,000 higher than they’d paid for the three bedroom unit in 2009.

The Tomics had been willing to sell them together or separately, and had marketed the properties as “outstanding value to either homebuyer or the astute investor”.

Located walking distance to Southport CBD, the apartments brought in rental income of $1165 a week, or about $60,000 a year for the family.

The listing said the (Tomics) were sad to be selling the long term investment property but were “committed elsewhere”.

The apartments feature large sunrooms, shutters, a private pool, entertaining area, gourmet kitchens, lockup and off-street parking and were close to Griffith University, the Gold Coast Hospital, the Broadwater Australia Fair shopping centre and a light rail station.


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