Tannum house facing beach sets record with $1.625m
A THREE-bedroom home on the Tannum Sands beachfront has set a sales record by selling for $1.625 million.
Selling agent Daryl Pike of PRD Nationwide at Tannum Sands said the same property was passed in at $1.2 million at auction earlier this year.
The sale price has exceeded the $1.4 million fetched at sale by another another residence along the same stretch of beachfront in early March.
Mr Pike said the people who successfully negotiated the sale had put in the highest bid at auction.
"They wanted an absolute waterfront home and they got it,'' he said.
He said the sale justified investors' interest in the Tannum Sands beach properties by setting a record.
Mr Pike said both the purchasers and the vendors were local. The property, which is 1014 square metres in size, contains a highset three-bedroom home, 14 metres of beachfront, and has approval for a duplex.
However, Mr Pike said the vendors would build a new house on the block.
He said the beachfront properties were unique "because we can't cre-ate new land on Tannum Sands Beach''.
The previous The Oaks Road beachfront home was bought by buyers from New Zealand to establish their own home.