What’s next for aged beach house among high-rises at popular beach?

One of the last old houses near a popular Sunshine Coast beach has been sold.

The home at 22 Mahia Terrace, Kings Beach, set among several high-rises, went for $1.52 million on May 17.

It’s one of only a handful of traditional houses that remain near the water’s edge at the tourist hot spot.

Professionals On The Coast Realty – Sunshine Coast sales consultant Zack de Jersey said the five-bedroom, two-bathroom, three-car-space property with dual street access was a rarity.

“There’s not too many old houses in the area,” he said.

“There’s just two other houses on the street and the rest are units.

“There were a lot of developers who wanted to secure this house and the house next door as well, but the owner of that one was pretty clear he wasn’t selling anytime soon.”

The property, which is just 200m from the sand, is zoned as High Density Residential (Sunshine Coast Regional Council Planning Scheme) with a height limit of 21m (about seven stories).

But it’s unlikely the aged house will make way for another high-rise – at least not just yet.

Mr de Jersey said the buyer was a local who was set to give the home – estimated to be more than 40 years old – a makeover.

“Rather than knocking it down, he’s going to restore the original house, make some improvements on it and land bank it for the future,” he said.

The old home at Mahia Terrace.

Mr de Jersey said Kings Beach had become one a hot spot for prospective property buyers.

“During the past 12 to 18 months, it’s showed good resilience in the face of what’s happening nationwide with interest rates,” he said.

“It’s probably one of the better suburbs on the southern end of the Sunshine Coast, because of its location (near the beach and the Caloundra CBD).

“It’s also one of the first real surf beaches and one of the better beaches heading north from Brisbane, so it’s very attractive to Brisbane buyers.

“About 70 to 80 per cent of the buyers we meet at open homes at Kings Beach are Brisbane-based.

“So, there’s a bit of competition around for properties.

“Most properties in Kings Beach are selling after receiving multiple offers.”

The property is close to the beach, the Pumicestome Passage and the CBD.

Auction results

10/85 Picnic Point Esplanade, Maroochydore

Passed in at $1,550,000

3 Bed, 2 Bath, 2 Car

Ray White, James Goldsworthy

10/40-44 Picnic Point, Esplanade

Sold under the hammer for $780,000

2 Bed, 2 Bath, 1 Car

Ray White, Niall Molloy

131 Bunya Street, Wurtulla

Sold under the hammer for $1,300,000

4 Bed, 2 bath, 2 Car, Pool

Ray White Alex Dennien

9/6-8 Aerodrome Road, Maroochydore

Sold under the hammer for $465,000

1 Bed, 1 Bath, 1 Car

Ray White, Sarah-Louise Anderson

606/21 Kombi Street, Bokarina

Passed in at $1,650,000

3 Bed, 2 Bath, 2 Car

Ray White Kawana, Adam Budd

103 Nambour Mapleton Road, Nambour

Sold prior to auction for $545,000

2 Bed, 1 Bath, 1 Car

Ray White, Niall Molloy

1/39B King Street, Buderim

Sold prior to auction for $465,000

2 Bed, 1 Bath, 1 Car

Ray White, Gregory Ward and Zoe Byrne

14/1 Amity Avenue, Maroochydore

Sold prior to auction for $665,000

3 Bed, 2 Bath, 1 Car

Ray White, Kathryn Willshire

Article source: Queensland Property Investor