Before the auction for 79 Bage Street on Saturday, the question on the 100-strong crowd's lips was what would be done with the 1630-square metre block in the heart of Nundah.

An expansive pre-war home, thought to be constructed in 1924, sat on the quadruple block. The house had never been sold, and remained in the one family until the last owner passed away. The home had many original features, including remnants of gaslight fittings and pressed metal ceilings.

Ray White Ascot agent Damon Warat heard several different ideas of what to do with the property from prospective buyers.

"There's so many options," he said. "We've had interest from someone wanting to build a childcare centre."

"I've got people wanting to keep the house build a tennis court and make it a dream property."

Ray White auctioneer Phil Parker had his own ideas for what to do with the land. "It's like a farm, it's so big!" he joked, during a lull in bidding. "They'll end up putting cattle on this!"

The opportunity presented by the property drew 17 bidders to the auction, many of which were developers.

Bidding started at $1.2 million and shot up to $2 million within a few minutes. Toward the end of the auction, bidders became more aggressive but slowed, and finally settled at $2.55 million.

Mr Parker said it was a good result for the vendor, and a fair price for the buyer.

"When you put 17 registered bidders together and gets to that level that's an indication that's the worth of it," he said. "[Because] there was 17 registered bidders on it ??? you anticipate something special is going to happen."

The buyer declined to be identified and couldn't be pressed for his plans for the property. Ray White identified him only as a "local developer".

Mr Parker, like many of those present at the auction, said he would keep a close eye on the property in the years to come.

"Gee, it'll be amazing to drive down here in a year or so to see what's happened," he said. "They're few and far between these big blocks and that's not just in Nundah, that's across the paddock, in most suburbs."