A 42.3 hectare (105 acre) farm at Woongoolba, between Brisbane and the Gold Coast, has sold at auction for $1.51 million.
Marketing agent Simon Cudmore, CBRE, said two of the six parties that had registered to bid were active at the auction.
The sale price is equal to about $35,697/ha ($14,450/acre), well above the reserve.
The buyer’s name was not released but is known to be a local landholder.
The property is on two freehold titles situated on the delta of the Pimpama River. The property has no building infrastructure but has road frontages to both Cooks Road and Loves Road.