The sale of an acreage estate in Adelaide’s north is proof that taking a property to auction in early January can be worthwhile.
Despite its online auction being held in the first full week of the new year, the 5.06ha Kudla property at 4 Gordon Rd sold for $5,627,500 under the hammer.
Selling agent Darren Pratt, of Ray White Barossa Valley/Two Wells, said a developer bought the property, which was in a high-growth area of Kudla.
“The area is highly sought after for its large allotments, horse-friendly zoning and strong demand driven by ongoing residential expansion,” he said.
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The Kudla property at 4 Gordon Rd sold for $5,627,500 in the first full week of January.
It includes a circa 1900s-built home with four bedrooms.
“With convenient access to shopping centres, schools and recreational amenities, the location supports both lifestyle appeal and long-term capital growth.
“There are a lot of properties being bought there for future development.”
The large property includes a circa 1900s-built home with four bedrooms and two bathrooms and can be accessed via three roads,
Mr Pratt said it attracted strong interest in the lead up to auction, with 87 inquiries throughout the campaign and nine prospective buyers registering to bid on the day.
The online auction was competitive, he said, and more than 500 bids were made before the hammer came down.
“Bidding started slowly, we had nine registered bidders and all nine were bidding,” he said.
“Even when we got close to the reserve price one of the bidders did $500 bids.
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The auction was held online.
It is in a high-growth precinct of Kudla.
“We had one bidder do a $25,000 bid and then another would do $25,500, another did a $50,000 bid and another $100,000 bid – it was really interesting and there was a lot of engagement.”
Mr Pratt said the buyer was at work during the auction and at one point jumped into a lift to move between meetings, which they wouldn’t have been able to do if the auction wasn’t help online.
He said the sellers, two friends who purchased the property together, were happy with the outcome.
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