Home sold for $270K less than last year

A PAIR of young Brisbane buyers has lost $270,000 off the price of a multi-million-dollar property they bought just five months ago.

Agent Eric Li of Ray White Sunnybank confirmed it was the second sale in months for the massive 1.01ha property.

“They sold it cheaper than they paid because they needed a quick settlement,” he said of the weekend’s $3.03m auction of 85 Menser St, Calamvale.

In September last year it had sold at auction for $3.3m in what Mr Li described at the time as an “unusual” circumstance where the buyers had not inspected the property until after the auction. The buyers had been driving past the auction when they stopped to ask if they could bid, he told The Courier-Mail after last year’s sale.

The property has a five bedroom, three bathroom, four car space home that the owners had tried living in for a stint, but its main attraction was development approval for 38 townhouses on the site.

“Hopefully, the new owner will develop it,” Mr Li said.

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