Couple's bike ride ends with $5.8 million surprise buy

A couple on a leisurely weekend bike ride have splashed almost $6 million at an auction they were passing by.

It was the first time they had seen the ocean-front address and they stood in the crowd for a period and registered to bid in the dying minutes of the content.

All of the buyers keen on the Yamba home during the campaign were holiday-house hunters from Melbourne, Sydney and Brisbane, agents said.

The couple were local farmers and during a halt in the auction they registered to bid. This last-minute move won them the keys to the triple residence in glorious beachside New South Wales. The hammer fell at $5.8 million.

SOLD - $5,800,000

17 Ocean Street, Yamba NSW 2464

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View property

The crashing waves are so close it looks as though they are breaking below the deep balconies, from where the big blue stretches out on both sides.

The property is in a dress-circle position on the water and has flexible potential, given it comprises three units on one title, in the same building.

Ray White Yamba’s Daniel Kelly handled the campaign, calling curtains with the successful auction on May 25.

“We had five registered bidders when the auction opened and a couple who know the area well, they are cattle farmers who split their time between here and Guyra were riding bikes around town, saw the open home and stood in the crowd. As we had paused for negotiations, they came over and asked to register, theought it – it was the first time they’d seen the property,” Kelly said in Ray White’s weekend auction report.

“It’s more of an investment and family holiday home, they have adult children who will share it.”

Four bidders threw their hands in the air for the chance to own the prime slice of the north coast.

It is only the second time in 60 years the address has transacted.

The largest of the units – on the top floor – has three bedrooms and the others have two. Both of these smaller units are on the middle floor, and the lower level is dedicated to parking.

About 40 to 55 inspections were held for the property over a five week campaign.