The vendors knew the time had come to downsize and move on and so 281 Terranora Road, Banora Point came onto the market.

This was a once in a generational opportunity as properties of this size, location and calibre are nearly impossible to find.

Located in the heights of Banora Point, the suburban acreage estate came with amazing ocean and mountain views.

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281 Terranora Road, Banora Point has sold for $1.55 million through agent Aaron Highfield, REAL Specialists. Photo: REAL Specialists

Situated well on approx 2 acres of usable flat land the homestead, although in need of a renovation, is enormous in proportion and will cater for a huge range of buyer requirements. 

"This was rare acreage in the middle of town, so it was very popular when on the market," said REAL Specialists agent Aaron Highfield to WILLIAMS MEDIA.

"It sold by private treaty with three very serious offers tendered.

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Close to infrastructure and the coast. Photo: REAL Specialists

"The eventual buyer made an offer of $1.6 million, but it was right on the cusp of COVID-19 and due to unforeseen circumstances the price had to be renegotiated to $1.55 million."

Mr Highfield said the vendor was an older farmer who had owned the property for 10-12 years and had decided it was time to sell up and not keep up the maintenance of such a large property.

The vendor agreed to the drop in the offer and the buyer, who is from New South Wales and wanted to move closer to infrastructure, was handed the keys.

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Close to the coast. Photo: REAL Specialists.

Even with the drop of $50,000 on the original offer, the price broke the suburb's highest price this year.

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