Record $3.1m for Lynagh's house



FIVE years to the day after it set the highest price paid for a Lennox Head house, No.1 Rocky Point Road set a new record when it went under the hammer again on Saturday.

With the same auctioneer, Michael Shay of LJ Hooker Ballina, and in the same room at the Lennox Head Bowling Club, this time the property sold for $3.1 million, breaking all previous records.

The only ocean-front property available for sale between Lennox Head and Ballina, the house faces Boulder Beach and Lennox Headland, with views to Cape Byron.

It was sold to former Rugby Union star Michael Lynagh for $1.2 million on January 22, 2000. Mr Lynagh sold the property because he now lives in Italy and works in Europe.

Jeanagh Condon, wife of Ballina developer Chris Condon, started Saturday's bidding at $3 million.

When the next bid added $50,000, Mrs Condon shed a discreet tear or two, unable to hide her disappointment the price had gone over her limit.

Despite there only being three people in the running, bidding was slow, with Michael Shay encouraging punters to 'carefully consider their position' before bidding.

There was only one more bid, bringing the price to $3.1 million.

When the hammer came down, the property was sold to a south Gold Coast couple.

Michael Shay said the couple, who declined to be named, planned to use the 4047 square metre freehold property as a weekender.

Four other properties listed for auction in LJ Hooker's annual New Year sale were passed in.

Number 60 Pacific Parade did not reach the reserve price of $850,000; and 1/16 Pinnacle Row, 3 Sunrise Crescent and 34 Killarney Crescent were passed in at $800,000, $900,000 and $600,000 respectively.



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