More than 50 people turned out to watch a Teneriffe property change hands for the first time in 63 years yesterday.
First time to market in 63 years
Belle Property New Farm agent Sarah Cantle said ten bidders registered to buy the home at 8 Waverley St, Teneriffe, four of whom put their hands up to buy.
Bidding started at $900,000 and quickly rose to $1.4 million from where bids slowed and reduced to $25,000 increments to reach $1,475,000.
The auction was paused to consult with the owners, brothers Brian and Atholl McKay, who quickly announced the home on the market and it sold for $1,475,000.
Brian said they were delighted with the result and his brother Atholl, who lived in the Teneriffe home, could now move with him to Esk.
Despite living in more than 100 towns for work throughout his life, Atholl has called 8 Waverley St, home for most of his life.
“He would go away for work and come back home,” Brian said.
“It was mum and dad’s home, they bought it in 56.
“Mum died December 2014 — the last four or so years she was in a nursing home in New Farm.
“In 2007 there was a bit of family friction, so mum put the house in her name, his (Atholl) name and my name as joint tenants.
“So when mum died the house automatically became ours.”
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When the McKays moved in during the late 1950s, Brian said they discovered their next door neighbours had built a bomb shelter in the backyard during the war.
“When we moved in it was mainly filled in,” he said.
“You could only walk down the stairs, but the rest was filled in.”
He said they spent most of their childhood playing at the Teneriffe Park.
“As a kid you’d go and play, we didn’t have iPhones and all those sorts of things.”
Ms Cantle said the McKays bought the home for about $2150.
Their first annual rates notice was £14.16, or $25.76. Atholl said today, he pays $800 with a pensioner discount per quarter.
Ms Cantle said buyers were attracted to the dual street frontages and the ability to have a Teneriffe Drive address.
The 427sq m block has a gradual northeast slope, with the home configured with a 10.5m frontage along Waverley St and an 11m frontage and carport from Teneriffe Drive.
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She said it was a pre-war home and while it could not be knocked down and had to remain a single dwelling, the house was in good order.
“The original section of the home has been virtually untouched since the 70s, but is raised on concrete stumps, allowing renovations to be carried out with ease.”