Add CategoryAn incredibly lucky Aussie was the second person to cash in on a beachfront tower prize after two men won the same entire apartment building on separate occasions from the same lottery provider.
Renter Nick Matthews, 30, was the original winner, turning his $10 ticket win into $5.3m and scoring a Palm Beach unit block in an RSL Art Union draw in 2020, before selling the building back to the charity just months later.
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RSL Art Union prize home winner Nick Matthews and his partner Tamesha.
The Buna Shores building of five apartments was then raffled off again, this time as the RSL’s Golden Treasure prize, promoted in late 2020 as a “life-changing” opportunity, “providing a solid gold income for the rest of your life”.
The second winner was a Western Australian man who, again, has cashed out, but slower this time – selling four units in separate transactions since 2021 totalling $5.67m.
The Buna Shores apartment building
The latest sale of the double-storey penthouse was negotiated by LJ Hooker agent Leanne Frohmuller, who said the listing was popular with buyers wanting a comparatively affordable property near the beach.
It sold for $2.4m after 44 days on the market, and had been previously rented at $2,000 a week.
The three lower-level units were sold in November 2021 for around $1m each, while the winner retains a three-bedroom apartment which was listed to rent at $1,250 a week.
The double-storey penthouse has just sold
It has five bedrooms and three bathrooms
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Three-level penthouse going under the hammer
Ms Frohmuller said the five-bedroom, three-bathroom penthouse offered modern luxury living by the beach, despite a high-rise building in front somewhat obstructing the view.
“This interstate investor needs to liquidate this exquisite property ASAP, so it will be sold,” Ms Frohmuller’s listing stated.
“The spacious layout, luxurious amenities, and prime coastal location of this apartment seems like a dream for anyone chasing an affordable beach home.”
Light-filled living spaces.
The penthouse had 259 sqm of living space, with a contemporary coastal style accented by feature tiling and natural textures.
High ceilings and expanses of glass allow plenty of light in, while there’s a large balcony for ocean view entertaining
“This striking apartment has the internal space of a house without the burdens of outside property maintenance to ruin your weekends.
“The beach becomes your new backyard. It’s the perfect blend of comfort, convenience and happiness for the whole family.”
Ms Frohmuller said Palm Beach was still a hot market, with strongest demand for property within walking distance to the beach.
Interstate buyers saw value compared to the southern markets, keeping prices buoyant.
The local apartment market in particular had notched impressive growth, with Palm Beach unit prices up 11.7 per cent over the past 12 months, to a median of $1m.