$17.7m pitch for Brisbane auction record
News Corp Australia Network
This property at 65 Moray St, New Farm went to auction on Saturday.
The race to put Queensland’s richest auction contract under the Christmas tree hit a hurdle on Saturday with bidders failing to meet the expectation of sellers.
At Ray White’s last major auction event of the year, $17.7m was not enough to secure the sale of a rare parcel of riverfront land at 65 Moray St, New Farm, despite robust bidding from three active bidders.
Lead bidder and ‘blue shirt guy’ looks behind him to see who the competition is at the auction of 65 Moray St, New Farm. The property passed in with his bid of $17.7m.
The 1030sq m block had development approval for a Bureau Proberts-designed boutique complex of six single floor apartments, with Ray White auctioneer Haesley Cush wooing the crowd of 80 with its picture perfect location.
An artist’s impression of what the DA approved building will look like.
“Every time you take a great picture of Brisbane, it will appear,” he said.
The sales campaign had even enlisted the help of legendary Australian poet Rupert McCall who was commissioned to write a poem about Moray House that features in a video on the realestate.com.au online listing.
Bidding started at $10m and immediately jumped to $15m and then $16m. It took 13 more bids to climb another $1.7m and get the property to $17.7m at which point it paused for negotiations and eventually passed in.
Ray White New Farm’s Hamish Bowman (arms folded) chats with the underbidders at 65 Moray St, New Farm.
The auction event at the Calile Hotel in Fortitude Valley closed with Ray White New Farm selling agents Matt Lancashire, Hamish Bowman and Tom Lyne continuing to work with both the lead bidder and underbidder to secure a sale.