Olympic gold medallist Susie O'Neill sells her riverfront home for $3 million

The riverfront home belonging to Australian Olympic swimming great Susie O’Neill has sold for a whopping $3 million — and that’s just for the value of the land.

A relieved O’Neill told Domain on Wednesday that she felt “a mix of emotions” when the hammer fell at the Ray White’s Auction Under the Stars event last night in New Farm.

“I felt really happy with the result — I felt relieved it was over — but I also felt that bit of sadness that we’re not going to do with it what we set out to do,” she said.

Records show the Olympic gold medallist dubbed Madame Butterfly bought the blue chip riverfront Yeronga property with her husband, Cliff Fairley, in 2008 for $2.6 million.

At the end of a private cul-de-sac, the property is set on a sprawling 1325 square metre flood-free block fronting a magnificent curve of the Brisbane River that captures dual reaches of the water.

The couple had originally intended to carry out a spectacular renovation on the original 1950s Art Deco-style house but recently decided to stay in their current home, also in Yeronga.

Marketing agent Christine Rudolph said there were five registered bidders fighting it out for O’Neill’s property and that the response “exceeded our wildest dreams”.

“We’re all thrilled. The new owners have basically paid land value — they intend to remove the existing house and build their own dream home … they’re considering flying over a world-renowned architect from Mexico to design it,” she said.

It was a massively successful night for Ray White; more than 400 people packed into the venue on Brunswick Street to watch 15 out of the 20 properties up for auction sell under the hammer. Another two properties sold this morning after further negotiations.

A run-down cottage on a 354 square metre block at 184 Annie Street, New Farm, opened at $500,000 with 22 registered bidders and was fiercely fought out until it sold for $1,340,000.

Other highlights included a four-bedroom, four-bathroom multi-level penthouse in the renowned “Bellagio” complex on Adelaide Street, Brisbane City, which sold for $3,227,000 and 153 James Street, which sold for over $2.7 million.

Ray White New Farm principal Matt Lancashire cited the auction event as a “massive injection” back into Brisbane’s top end, with his office closing out May with nearly $50 million in sales.

“Things were a bit quiet in April because of all the public holidays but we’ve now just finished the month of May with a bang,” he said.

“There were a lot of buyers hanging out for this event, holding off until last night…it was a great snapshot of all parts of the market.

“New Farm really is out on its own in the property market — it’s one of those areas where people see value in the dirt.”