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Location, location. Source: Tom Offermann Real Estate

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A TWO bedroom cottage on one of Queensland’s hottest streets has sold at auction after hitting the market for the first time in over 50 years.

Located on Upper Hastings St in Noosa Heads, the Little Cove cottage sold for $5.75 million, a tidy profit on the $13,000 paid for it back in 1972.

74 Upper Hastings Street, Noosa Heads. Source: Tom Offermann Real Estate

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The modest green and cream abode attracted seven registered bidders and 150-strong crowd when it went under the hammer at 11am on Saturday.

Marketed by Tom Offermann Real Estate agent Nic Hunter, bidding for the cottage started at $4.5 million before selling under the hammer to Victorian buyers who have grand plans to build their dream home.

“They were on the phone but had visited the property and had really strong ideas about what they wanted to do,” Mr Hunter said.

A design concept byLightbody Architects. Source: Tom Offermann Real Estate

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The 122sq m timber cottage that currently sits on the block was constructed in 1972 and has timber floors, an enclosed veranda with hinterland views, French doors that open onto the terrace, character windows, two queen-sized bedrooms, one bathroom, a kitchen/dining space, a lower-level laundry, two store rooms and a carport.

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Location, location. Source: Tom Offermann Real Estate

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The property also backs on to the Noosa National Park Reserve and is just “206 steps” to Hastings Street and Main Beach via a dedicated pathway.

On a 686sq m block, the listing said the location “is second to none”.

“Almost next door is the start of the dedicated pathway through the Noosa National Park to Morwong Drive near Hastings Street, opposite Noosa Main Beach and near to the Noosa Heads’ Surf Life Saving Club,” that listing said, adding that the site was primed for a trophy home or even apartments or a duplex, pending council approval.

“Expect views of the Noosa River and beyond to the Coloured Sands and Mt Cooroy from the upper levels.”

Inside the cottage. Source: Tom Offermann Real Estate

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The property attracted interest from local, interstate and international buyers, with Mr Hunter adding that many in the crowd were locals keen to see how the local market would perform in the new year.

“Noosa just keeps delivering great sales prices in those key positions,” Mr Hunter said.

“All of the auctions we have coming up, there is already strong interest from quality buyers.

“There is still solid interstate interest, but Queenslanders are our main buyer pool for sure.”

The cottage was sold as part of the estate of Dr Harold ‘Paul’ Spiro, who passed away in June last year.

Mr Hunter said the sale was a bittersweet one for the family, who had all enjoyed the property over the past 50 years.