Eight beachside lots tipped to fetch $1m each despite bids starting at $1

Eight beachside blocks being auctioned from just $1 in Port Douglas could ultimately fetch more than $1m each, with strong early interest coming from Sydney and Melbourne buyers. The final eight lots in the BeCHe Estate, about 350m from Four Mile Beach and adjoining the Pullman Port Douglas Sea Temple Resort and Spa, are being sold through Lloyds Auctions in an unusual online auction campaign. Eight beachside blocks in Port Douglas could be yours for $1. Lloyds Auctions chief operations officer Lee Hames said bidding had already begun ahead of the October 1 close, with the campaign attracting high-net-worth individuals and investors, particularly from interstate. “Based on the interest coming from Melbourne and Sydney, it wouldn’t surprise me if they go past $1m each,” Mr Hames said. The flat lots are about 700sq m each and are the final eight remaining from the estate’s original 33 lots. The entrance to the estate where eight beachside blocks are going to auction for $1. While bidding starts at $1, Mr Hames confirmed the properties would have reserves. He said the strategy allowed Lloyds to combine a traditional property auction with its extensive auction database, generating inqu...