Aging waterfront home sells for $12m, smashing suburb record
News Corp Australia Network
This waterfront property at 9 Minyama Island, Minyama, has sold for a record $12 million.
An aging waterfront home in one of the Sunshine Coast’s most exclusive suburbs has sold for a record $12 million, as Queensland’s coastal housing markets show no signs of slowing down.
The massive property on 1700 sqm at 9 Minyama Island in Minyama looks like something straight out of the ‘90s, but that did not deter a local couple from handing over the eyewatering amount.
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The entrance to the mansion in Minyama that has just sold for a suburb record price.
The previous highest price paid for a home in the suburb was $7.7 million when the property down the street at 12 Minyama Island sold in May last year.
Records show the home had been owned by Stuart and Glenice Robinson for the past 16 years. They paid $6.9 million for it in 2005.
The property comes with a deepwater pontoon.
Elite LifeStyle Properties director Jordan Lund, who negotiated the sale with his colleague Mark Unkel, said the Robinsons had made few improvements to the home, which was built about 22 years ago.
“It’s not for everyone,” Mr Lund said. “It was always going to suit the right buyer.
“They’re going to do their own work to the property to bring it up to a level they’d like to see it at.”
The property was built more than 20 years ago, but its location was the main selling point.
But Mr Lund said demand for property in Minyama was still strong, especially from locals looking to upgrade and “jumping from one canal to next”.
“Some of the homes are getting on (in Minyama), but people are still jumping through hoops to get there — particularly anyone with an interest in the water or boats.”
It’s perhaps a surprise then that the buyers, who have not been disclosed, do not own a boat.
“It’s north-facing premium waterfront,” Mr Lund said. “There’s a very limited number of properties available on the north-facing side of Minyama Island.
The master bedroom has a giant bathroom with a step-up spa bath.
“It’s a world-class address, and we’re still finding we’re getting the right prices for the right properties.”
Once home to retirees, Minyama is now one of the Sunshine Coast’s most prized playgrounds for prestige buyers, with the median house price in the suburb increasing 33 per cent in the past 12 months to $2 million.
The two-storey home has been immaculately maintained by the same owners for 16 years.
The two-storey, four-bedroom, four-bathroom home at 9 Minyama Island has a 29m river frontage and overlooks the Mooloolaba wharf and harbour.
“We had multiple offers prior to going to market,” Mr Lund said. “Three offers were presented, not quite at the level the buyers were looking for, so took it to market and one of the offers stepped up.”
The kitchen, living and dining area are open plan.
From the driveway to the formal entry, the two-storey home gives a grand first impression.
Inside, a mix of formal rooms and casual living zones spill out to an outdoor entertainment area and an inground pool.
The home is quite impressive from the water.
The master bedroom is an entire wing of the home, accessed by a mezzanine breezeway overlooking the foyer, and includes a raised spa bath, separate shower, powder room and dressing room.
There’s also a full-size office and separate media room.