No home, however 38 bidders pushed this grass block previous the $1m mark

This block of grassy land at 20 Sturt Road, Kedron, bought for $1.155m below the hammer on Saturday.

A surge in suburban land demand noticed a house-less property with simply grass rising on it promote for over $1m after 38 bidders fought it out at public sale.

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The property is simply 6km from the Brisbane CBD and backs onto parkland and bikeways.

Brokers Ray White anticipated the public sale to go off after seeing huge curiosity within the property “all day and evening seven days per week” within the lead-up to Saturday’s sale.

Agent David Lazzarini of Ray White Lutwyche, who marketed the property with colleague Callum Lazzarini, had a good suggestion how many individuals had been eager to see the block given he lives on the identical road.

“It was open slather,” he mentioned. “We had numerous individuals coming by means of day and evening, seven days per week, they had been even right here with torches at evening checking it out.”

The $1.155m sale below the hammer was much more anecdotal proof for what brokers had been seeing on the bottom, the place demand for land had “undoubtedly gone by means of the roof” in Brisbane.

Demand for land has surged in suburban Brisbane, with blocks like this one in a personality residential zone thought-about a rarity.

“It’s very uncommon (to see land come up on the market like this),” Mr Lazzarini mentioned. “As a result of we’re in a personality space, there’s no vacant land plus it backs onto the parkland so there aren’t any rear neighbours apart from wildlife, and that can by no means be constructed out.”

The property at 20 Sturt St, Kedron– a 607sq m block of land on Brisbane’s northside – noticed enquiries come from everywhere in the Queensland capital.

“Many of the purchaser curiosity we’ve obtained is from individuals wanting it as a place purchase to construct their eternally residence and revel in the perfect a part of the Avenues on the park. There has additionally been a sprinkle of those that need to purchase, construct, after which onsell.”

The property had been in the identical household for the reason that 1920s however remained a vacant cleared block since 2001.

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Sturt Road is situated between eighth and ninth Avenues in Kedron, with absolute direct entry to the Kedron Brook Parklands and bikeways.

“It’s a degree parcel with a 20m large frontage which permits extra design scope and sewer and water companies are on the entrance so there aren’t any pipes throughout the block that means there may be potential for a pool.”

An area household that already lives within the Avenues ended up shopping for the property for $1.155m, beating 37 different registered bidders.

“They simply need to design and construct their eternally residence as a result of they need to benefit from the park,” Mr Lazzarini mentioned.

“And so they have an excellent neighbour – I dwell subsequent door,” he joked.

Kedron is simply 6km from the Brisbane CBD with easy accessibility to the Northern Busway, Airport Hyperlink and the Clem 7 Tunnel community.