Cool Queensland former shack commands almost $7.3 million

A playful, retro beach bungalow on the waterfront in Queensland has almost $7.3 million price hopes and serious design credentials.

The bright property at 233 Jefferson Lane in Palm Beach backs onto the Pacific Ocean and has been updated, transforming from a humble coastal shack to a style icon of the area.

The guide is $7,295,000.

Known as The Palm Beach Bungalow, the now luxe house has an American Palm Springs mid-century modern vibe and chic flourishes, including mint green touches on the facade. It has retained shack-like traits, including the weatherboards, exposed beams and a simple back timber deck with broad stairs, which speak to its history and respect its past.

The buyer will have direct beach access from the 413-square-metre block, where even washing up at the kitchen bench will capture water views.

Palm print wallpaper in the living room is illuminated with a “life is beautiful” neon sign.

The bathroom has statement pink tiles in the shape of eclairs.

The top floor opens to the water view deck from, on the horizon, sparkles the Gold Coast city skyline.

The sparkling Gold Coast skyline is visible from the beach deck of the renovated bungalow. Photo: iStockphoto

Palm Beach’s median house price sits at $1.5 million, according to the latest Domain House Price Report (for the March quarter). Although three-month growth data is not available, due to a low volume of sales in the postcode, the five-year figures show an enormous price spike of 82.9 per cent, which is line with the popularity of the Queensland market with southern state buyers in the wake of COVID-19.

The Palm Beach Bungalow is for private sale, on the books of Kollosche agent Troy Dowker.

The highest price paid so far this year in Palm Beach is not far off the price hopes for the glam former shack.

An original, Tuscan-style house on 597 square metres of beachfront land sold in February this year for $8.89 million – Troy also did the deal – and currently sits atop the transaction leaderboard.

Article source: Queensland Property Investor

Did you miss our previous article…