Clayfield house to be demolished to make way for “monster”

A Clayfield house will be bulldozed after it was bought by local real estate agent and property developer Emil Juresic at auction on Saturday.

Mr Juresic has vowed to knock the 10 Union St house and build a modern “monster” in its place.

It was the first time the post-war house had been on the market in 34 years, and more than 50 people turned out to watch it go under the hammer.

Quickly after Ray White Queensland’s chief auctioneer Mitch Peereboom opened the auction a bid of $700,000 was yelled from the crowd.

Another bidder swiftly raised that figure to $800,000, before Mr Juresic chimed in with a bid of $1 million.

Some of the 13 registered bidders threw in smaller bids of $25,000 and $10,000, but their efforts were futile, with Mr Juresic continually raising the price with little hesitation.

Mr Peereboom called a break on the auction at $1.16 million, before he came back and announced the house on the market at $1.2 million, with Mr Juresic again in the lead.

A male duo threw in a number of $10,000 bids, however, bowed out of the competition when it became evident Mr Juresic was not going to surrender.

The house sold under the hammer to Mr Juresic for $1.25 million — a staggering 14 times what it was last sold for.
According to CoreLogic data, the house was last purchased in 1985 for $85,000.

Mr Juresic said he had bought the property under the name of his family’s company, NGU Corp Luxury Developments, and planned to build a house that would attract a multimillion-dollar price tag.

“We have built a beautiful home at 7 Ashfield St, East Brisbane, that we sold for $4 million, and we are going to probably build a home very similar to that on this block of land,” Mr Juresic said.

“The street is fantastic and I don’t think there is enough good product for people to buy (in Clayfield) when it comes to really high end.

“Here we have to build something that is going to complement the street (and) here there are a lot of character homes as well, so that is why we are going to build a monster.”

The marketing agent Shenal Yigitbas, of Ray White Ascot, said the sale had been an emotional one for the vendors as the property was a deceased estate, but they were pleased with the outcome.