51 O’Connor Street, Tugun has sold for $11.5m
A hushed $11.5 million deal for a 1960s beachfront shack has smashed the suburb record in Tugun.
The stunning off-market sale has sent ripples through the tight-knit local community, while property experts have their eye on the suburb as the next southern Queensland hotspot.
Records show the three-bedroom cottage on a 700sqm parcel with 17m frontage just steps from the sand at 51 O’Connor St was sold by Emisha Canning, of Coastal Property Agents.
Ms Canning declined to comment on the sale, citing a non-disclosure clause in the contract.
The off-market transaction delivered a stunning uplift for the vendor
Inside the shack, which out-sold mega-mansions in the suburb
The property last changed hands for $1.95m in 2013, and had been held since in a company name linked to local Currumbin identity, Mark Neumann.
Tugun’s previous high sale was $10.05m in 2024 for a triple-storey beach house, located among a row of conspicuous mansions on Pacific Pde.
Known for its surf culture and laid-back village feel, Tugun remains relatively undeveloped compared to neighbouring Palm Beach and Coolangatta.
But the tide is turning as high-profile locals and luxury developers trade up.
Onda by Graya is under construction
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High-end multi-residential projects in progress include Spyre Group’s project Echo at 2 Dune St, replacing a 1970s block with ten luxury apartments priced from $3.35m.
Local buyer’s agent Matt Srama said the idyllic pocket was next in line for gentrification, likening it to Palm Beach’s exclusive beachfront strip.
Apartments in Spyre’s Echo have sold for up to $10.25m
“It is going to be the next beachfront area to pop off,” Mr Srama said.
“Many people don’t know there’s a Millionaires’ Row here on Pacific Parade, so with that mix of old shacks and new projects on the beach, it could be almost what Jefferson Lane used to be.”
While it has traditionally been a hyper-localised market of loyal residents upgrading or downsizing, interstate buyers were catching on.
“Tugun is just now finding its brand with these buyers, who would have mentioned Mermaid Beach, Burleigh, even Coolangatta.”
Latest PropTrack data shows Tugun’s median house price has surged 13.5 per cent over the past 12 months to $1.61m.
Buyer’s agent Matt Srama: Next to boom
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