Tannum house passed in at $1.2m
By REN LANZONnewsroom@gladstoneobserver.com.au
A BEACHSIDE property on The Oaks Road at Tannum Sands was passed in at auction for $1.2 million on Saturday.
Auctioneer Daryl Pike, of PRD Nationwide Tannum Sands, said although passed in at that figure, the bid "justified market values at Tannum Sands'' and the $1.4 million sale of a property on the same strand recently.
He said bidding opened at $800,000 and went up in increments of $100,000 until it reached $1 million.
He said the next bid was for $200,000 when the sale stalled. Mr Pike said negotiations were continuing with one of the bidders, but there were several other parties interested in the property.
The 1014 square metre property, which contains a dwelling, has approval for a duplex.
Mr Pike said the interest was obviously in the land, not the dwelling.
He said although there were only four bidders, there appeared to be wider public interest in the outcome of the auction.
"There was a terrific roll-up of people at the auction,'' he said.
"It was the biggest crowd we've ever had in an auction at Boyne- Tannum.