The ground-floor apartment at 1/64 Mark Street, New Farm in Brisbane sold for $600,000.
Despite having no balcony or courtyard, a boutique Brisbane apartment has sold for $600,000 to a buyer who searched for more than two years.
The buyer secured the one-bedroom 43sq m apartment at 1/64 Mark Street, New Farm just two days before the property was set to go under the hammer.
1/64 Mark Street, New Farm.
The property, which is in a complex of six, has no external living space — no balcony or courtyard.
Ray White Collective agent Nick Mogridge, who marketed the property, said he was not surprised the apartment sold prior to auction.
“The ground-floor residence never made it to auction with the local buyer falling head over heels for the property’s potential and blue-chip location in one of Brisbane’s most enviable lifestyle precincts,” Mr Mogridge said.
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1/64 Mark Street, New Farm.
“This buyer had been searching for over two years, and the moment they walked through, that was it.
“Sometimes a property just speaks to you, and this one was shouting from the rooftops – or in this case, the ground floor.”
“Despite the absence of external living space, the property’s boutique appeal proved irresistible.”
The kitchen.
Mr Mogridge said about 25 people walked through the property over two weeks.
“New Farm continues to be that golden postcode where lifestyle meets location,” he said.
“For first-home buyers especially, it’s about getting that foothold in a suburb they might otherwise be priced out of.
“It’s a classic renovation opportunity.
“Keep the warmth and character, add a contemporary edge, and you’ve got yourself a seriously stylish New Farm pad.”
The main living room.
PropTrack data reveals the median apartment value in New Farm is $931,250, up 4.6 per cent over 12 months, while the median value for a one-bedroom apartment in the suburb is $637,500, up 12.8 per cent over 12 months.
The highest sale price in New Farm is $20.5m, paid in 2023 for riverfront property, ‘Amity’, at 101 Welsby St.
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