The properties at 628 and 630 Pacific Parade, Tugun, sold under the hammer for a combined $5.215 million on the weekend.

TWO Tugun homes next to each other on the beachfront sold under the hammer for a combined $5.215 million on the weekend.

The properties at 628 and 630 Pacific Parade were a deceased estate that had been in the same family since the 1920s.

They were bought separately at auction on Saturday – No. 628 for $2.615 million and No. 630 for $2.6 million.

628 Pacific Parade, Tugun

628 Pacific Parade, Tugun

628 Pacific Parade, Tugun

Marketing agent Troy Dowker, of Ray White Mermaid Beach, said the homes attracted a lot of interest during the four weeks they were on the market.

“There was about a dozen registered bidders (at auction) and we had 135 inquiries and 67 inspections through the campaign,’ Mr Dowker said.

He said their position on the tightly held coastal strip was what made them so appealing.

“Because of the great location and there’s only a minimal level of opportunity there,” Mr Dowker said.

He said the buyers had plans to redevelop both sites.

630 Pacific Parade, Tugun

630 Pacific Parade, Tugun

630 Pacific Parade, Tugun

“One was a Brisbane buyer, the other one was a Gold Coast local who moved away for a few years then came back,” Mr Dowker said.

“They virtually bought them on land value and position because they’ll build new homes on there eventually.”

A handful of properties sold for more than $1 million at auctions across the Coast last week.

Among those were the waterfront properties at 32 Bombala St, Broadbeach Waters, and 37 Vaggelas Cres, Biggera Waters, which sold for $1.177 million and $1.35 million respectively.