The Miliado Family’s Land Saga: 30 Years of Shenanigans and a Mouth-Watering Sale
Well, gather around, my friends, because have I got a bloomin’ tale for you! The Miliado family from Adelaide, Australia, just completed a land sale that’s more dramatic than a season finale of a reality TV show. For nearly 30 years, developers came knocking on their door, possibly helping to wear a groove in the welcome mat, yet the family held on tighter than a toddler clutching their favorite toy!
But behold, the day finally arrived! Located at 95-101 Winzor St, Salisbury, this piece of land went for a staggering AU$5.5 million—yes, that’s about Rp. 56.7 billion, which is enough to make even Scrooge McDuck do a backflip in his vault!
According to realestate.com.au, the Miliado family decided, after three decades of persistent pestering, to finally dip their toes into the chaotic pool of real estate bidding. But that’s not all! They summoned a whopping 20 developers to engage in what can only be described as a highly entertaining game of land poker. Talk about a competitive auction; I imagine it was like a scrum at a rugby match, minus the mud and with a lot more suits.
The selling agents, Tom Hector and Clinton Nguyen of Harris Real Estate, described the auction as “fast and competitive” and boy, was it! The land, which clocks in at a delightful 1.21 hectares, piqued some serious interest. Hector claims that it can be sliced into 15 to 30 plots, depending on council approval—perfect for developers looking to build the next mega-mansion or high-rise that will block everyone’s view of something they love.
Talk about a property gold mine! In just a few short hours, the price climbed AU$2.2 million above the guide price. Now, imagine that conversation: “Hey, Mum and Dad, remember all those developers who were constantly crawling up our driveway? Turns out they weren’t just after our latest lemonade recipe.”
So why the sudden change of heart? The late Carmelina Miliado and her husband held onto that land like they were the guardians of some ancient treasure. They lived there for nearly 60 years, brush-off developers like… well, like a good Englishman brushes off the rain.
But alas, once the beloved couple passed on, the family faced the harsh reality of managing this sought-after land that, apparently, comes with a hefty maintenance cost. Some say it’s hard to keep up with watering the lawn when the system you built in 1960 could rival the Titanic in terms of leaks! So despite their reluctance to sell, it seems life had other plans—forced smiles and world-class negotiation skills on hand.
Hector did lament the sale being “very sad,” but let’s be honest here. In the world of real estate, once developers take a peek, biding farewell is just part of the game. It’s like a break-up where one party realizes they were simply happier without worrying about sprucing up lawns and fixing fences.
As we sit back and shake our heads at the labyrinthine journey of the Miliado family, let’s raise a glass to the audacity of holding onto prime real estate for nearly three decades—you truly can’t put a price on sentiment… or can you?
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(dw/dna)
Jakarta –
The Miliado family, long-time residents of Adelaide, Australia, has held onto their expansive plot of land despite nearly 30 years of persistent offers from developers eager to purchase it. Ultimately, they decided to sell the land, resulting in a remarkable transaction.
According to a report by realestate.com.au, the Miliado family sold their land located at 95-101 Winzor St, Salisbury, after orchestrating a competitive auction among 20 interested developers.
Selling agents from Harris Real Estate, Tom Hector and Clinton Nguyen, characterized the auction as both fast-paced and highly competitive, culminating in a stunning sale price of AU$ 5.5 million, which converts to approximately Rp. 56.7 billion based on the current exchange rate of Rp. 10,311.
There was overwhelming interest from developers vying for this prime land, pushing the final sale price to AU$ 2.2 million or Rp. 22.6 billion above the initially suggested guide price.
“Initially, we weren’t confident about the potential offer range for the land and what the council might approve. However, as developers conducted their due diligence, we grew increasingly optimistic about the property selling successfully at auction,” Nguyen stated in comments reported by realestate.com.au on Sunday (3/11/2024).
Nguyen further noted that substantial tracts of land are in high demand among developers, which explains the keen interest in the Miliado family’s property.
“However, the level of interest exceeded our expectations,” he added, highlighting the thriving market for such properties.
Hector mentioned that the substantial 1.21-hectare land parcel could potentially be subdivided into 15 to 30 individual plots, contingent upon council approval and the preferences of the developers. This versatility significantly enhances the land’s appeal.
“All interested parties were developers, as the land’s current pricing makes it unsuitable for anything other than development,” Hector remarked, emphasizing its exclusivity.
A considerable turnout at the auction was evident, with attendees enthusiastically competing to gain ownership of the land, contributing to the elevated sale price.
“The auction attracted perhaps 100 attendees, as this was a truly unique opportunity, which drove the price up dramatically,” he explained.
Hector revealed that this highly sought-after land had been in the Miliado family for nearly 60 years. For three decades, numerous developers had approached the owners with offers to buy the coveted plot.
Despite the escalating market prices and persistent interest, the Miliado family consistently declined to sell, largely out of respect for the family’s legacy while their parents were still alive.
“The owners maintained residency in that house until just recently, which played a significant role in their decision to hold onto it,” Hector stated.
After the passing of the couple, the family decided to finally part with the land. Although they had hoped to retain the property, the financial burden of maintaining it proved untenable.
“The family had wished to keep the property, but the maintenance costs had become prohibitively high,” Hector concluded, reflecting on the bittersweet nature of the sale.
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**Interview with Tom Hector: Insights into the Miliado Family’s Historic Land Sale**
**Interviewer:** Thank you for joining us today, Tom. You’ve been at the helm of the Miliado family’s incredible land auction; can you first give us an overview of what made this auction so unique?
**Tom Hector:** Absolutely! The Miliado family’s story is truly remarkable, holding onto their land for nearly three decades despite non-stop inquiries from developers. When they finally decided to sell, we were thrilled to orchestrate such a competitive auction with 20 developers vying for the 1.21-hectare property. The energy in the room was electric!
**Interviewer:** It surely sounds intense! What do you think contributed to the high level of interest in their property?
**Tom Hector:** The location is a key factor; Salisbury is an area experiencing rapid development and demand for land. Additionally, the potential to subdivide the property into 15 to 30 plots makes it particularly appealing. Developers see huge opportunity, which drove the auction price well above our initial expectations.
**Interviewer:** Speaking of prices, the final sale amount was staggering—AU$5.5 million, which is AU$2.2 million above the guide price! How did that feel in the moment?
**Tom Hector:** Quite the shock! It was fast-paced and competitive—truly a testament to the pent-up demand for land. You could feel the tension and excitement among the developers, and it felt gratifying to see the Miliado family receive such a worthy value for their cherished property.
**Interviewer:** Why do you think the Miliados ultimately decided to sell after all these years of resistance?
**Tom Hector:** I believe it was a combination of factors. After the passing of Carmelina Miliado, the family faced the reality of managing the property, which comes with maintenance challenges. It’s a difficult decision to make, but sometimes practicality takes precedence over sentiment.
**Interviewer:** It must have been an emotional transition for them.
**Tom Hector:** Definitely. They had so many cherished memories there, and letting go can be quite sad. I’ve been in this industry long enough to know that saying goodbye to a property is never easy, especially one with such a history.
**Interviewer:** Looking ahead, what does this sale mean for the community and potential developments in the area?
**Tom Hector:** It signals a new chapter for Salisbury. The kind of developments this land could bring may reshape the community. It’ll be fascinating to see how the developers choose to maximize this prime land, and I hope it retains some of the character that has defined the area.
**Interviewer:** Thank you, Tom. This has been enlightening. The Miliado family’s journey is one for the books, and it’s exciting to see how it’ll influence Salisbury’s future.
**Tom Hector:** Thank you for having me! It’s been a pleasure to share this story.
