Bargara beachfront snapped up for $1.7m
BUYERS are not baulking at Bargara's strong land prices, with one Gold Coast investor forking out $1.7 million last week for a property at Miller Street.
Harcourts Bundaberg principal Ben Gough said the man, who had car dealership interests at the Gold Coast, bought the Bargara beachfront property sight unseen.
The property had previously been earmarked for the development of nine units and Mr Gough said the new owner planned to go ahead.
Four doors down from the site, Shoreline Resort resident manager Greg Summers said he was not surprised at the price and felt the buyer had found a good deal.
Mr Summers said similar prices had been paid for land in Tannum Sands, near Gladstone.
"There's only one Miller Street Bargara. It's really a bit more upmarket,'' Mr Summers said.
Also at Bargara, developers of the new Breeze land development have sold 24 blocks worth more than $4.3 million in total, in the past four weeks.
Owned by Metricon, stage one of Breeze comprises 37 blocks of land ranging from 680sq m to 1159sq m in size, at an average price of $180,000. The overall plan allows for 98 lots.
Bargara Real Estate agent John Price said people were buying land in Breeze because of the development's seaside location and Bargara's lifestyle attractions.
"Bargara is experiencing a dramatic rise in rejuvenation. The high sales result we are experiencing confirms the local confidence in the region with 40% of buyers originating from the local buyers market, predominantly from Bundaberg and Bargara,'' Mr Price said.
"We are also seeing a sustained level of buyers originating from other areas within Queensland including Cairns, Brisbane and the Gold Coast with 50% of buyers coming from this area.