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October 28, 2009 – Cairns - An interesting guide to the performance of auctions in Cairns could be a swanky penthouse in the Royal Harbour complex on The Esplanade which sold under the hammer last Saturday for $1,080,000.
Agents from real estate firm Powe Property say it was one of the highest auction sales results for an apartment in Cairns' history. The property at 73 The Esplanade, above the Night Markets was sold as a mortgagee in possession arrangement. The buyer was a Cairns businessman. Matt Powe from Powe Property said that despite much gloom in the Cairns property sector, the result showed it was not such a bad time to sell. "I think it bodes well for Cairns property", he said. "There are some good lifestyle properties on the market." The auction attracted some eight registered bidders and a crowd of about 60 people turned out to watch. "There were strong crowd bids, and no vendor bids were required to make things happen," he said Source: Cairns Post |
