Surf legend Mick Fanning pushes auction of Coolangatta investment back a week
Mick Fanning has pushed the auction of his Gold Coast duplex back a week. Picture: Jerad Williams
Surf legend Mick Fanning has pushed the auction of his Coolangatta, southern Gold Coast duplex investment back by a week.
The delay comes as several potential investor buyers were struggling timewise to secure approvals from their obliging, but overworked lenders.
There were over 30 inspectees, repeat and fresh, at yesterday’s open.
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There are several potential investor buyers.
There are four income streams in the block.
The Boundary St block offers four income streams. LJ Hooker Palm Beach agents Mishy Canning and David Lonie suggest the apartment block could yield around $750 a week for each of the two larger apartments and $450 a week each for its two granny flats.
The local auctioneer Nigel Long will hold the February 14 auction onsite.
The 39-year old Fanning, who stepped away from professional surfing in 2018 having won three world championships over his near two decade professional career, had bought the then tired 1980s brick block in 2007.
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The block from the street.
The renovation of the now vacated two strata block was undertaken just before Christmas with its coastal feel fit-out undertaken by Velvet Design’s Geoff Wilson. Located just footsteps to Snapper Rocks, Fanning retains other surfing mecca investments.
ADDITIONAL RESEARCH BY JOEL ROBINSON