Last block of Robina land causes a frenzy among buyers
25 Yarraville Street, Robina, is the last vacant block left in the suburb.
A vacant block of land in a suburban street in Robina is causing a huge stir among buyers, expats in particular.
The 637sq m corner plot at 25 Yarraville Street is the last remaining vacant piece of land in the heart of the suburb, according to Ben Williams of Remax Regency, who is co-marketing the property with Andrea Williams.
25 Yarraville Street, Robina, will be auctioned this weekend.
In little more than a week it has amassed more than 52,000 views on property portal realesatate.com.au and more than 60 formal inquiries.
Mr Williams said within an hour of the block hitting the market he received written offer from a potential overseas buyer.
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The huge response has lead to a super-short marketing campaign with the land to be auctioned this weekend, on September 25.
Mr Williams said land on the Gold Coast was scarce in general but what made this block special was its size and location.
The property is a short distance to Cbus Stadium.
“It’s in the best part of Robina and is a flat block. There is nothing around like it,” he said.
“There are plenty of nice houses but a vacant block of land, ready to build on, is appealing to a lot of buyers.
“Normally we run three to four week auction campaigns but because of the enormous response we’ve had, the vendor wanted to make it short and sharp.”
Mr Williams said most of the inquiries had come from Sydney and Melbourne and overseas buyers, from as far afield as the UK, Hong Kong and the US.
Robina Town Centre is also near by.
“The international buyers are expats who are cashing up overseas and wanting to build their dream home on the Gold Coast,” Mr Williams said.
“As soon as the borders open it will open a floodgate for expats just waiting to return home,” he said.
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“The Gold Coast offers so much; it’s safe for families, has a low crime rate compared to London and Hong Kong and it offers better value for money.”
An image of the planned satellite athletes’ village to be built at Robina for 2032 Olympic Games in Brisbane.
Like most Gold Coast suburbs, Robina has experienced rapid house price growth over the past six to eight months, most recently spurred by the announcement that it will be the site of Brisbane’s outpost 2032 Olympic Athletes’ Village.
Local couple, Stuart and Lisa Leo, have owned the block for several years.
Originally more than 1,000sq m, the Leos subdivided the block and sold a smaller 400sq m portion to a developer in 2019 for $450,000.
This property next door sold at auction for $1.4 million two weeks ago.
The house built on that piece of land at 1 Carrum Court, sold last week under the hammer two weeks ago for $1.4 million.
They are now hoping to cash in on the larger remaining piece, with all signs indicating they’ll get their wish.
“Prices have soared in the suburb,” Mr Williams said. “Twelve months ago I couldn’t give properties away, they were selling for $500,000. Now they’re going for more than $1m.”