The long held northern beaches home of Busways founder Richard Rowe sold at auction this week to a local buyer for $11m.
When it first listed, the cul-de-sac home with 180 degree views across the beach had an advertised guide of $9.5m.
But within a couple of weeks, the agents at L.J. Hooker Avalon realised $10m was a truer guide and the guide was revised upwards.
2 Surfside Ave, Avalon Beach sold for $11m at Tuesday night’s auction.
Richard Rowe lived in the double brick home from the time he built it in 1973 until his death aged 100.
MORE:
Richard Rowe created Busways, previously known as Rowes Bus Service, in 1942.
The home had six bedrooms, a four-car garage, level access and a self-contained studio for guests.
He built the home in Surfside Ave in 1973.
The north-facing home at Surfside Ave, Avalon had three registered bidders at auction and all knew the area and valued the position.
It sold on the day for $11m having been held by the family since the late 1960s.
Agent Jonothan Gosselin said it was a challenge to guide the landmark property in the current market.
It has extraordinary views from the kitchen and living areas ...
... and even the bedrooms.
“Despite the uncertainty surrounding the broader economy and ongoing commentary about the property market, the result demonstrates that quality homes in tightly held locations continue to attract strong competition,” he said.
“We’re delighted with the outcome, and most importantly, both the vendors and purchasers are very happy with the result.”
The home had an advertised guide of $9.5m, later revised upwards to $10m.
The late Richard “Dick” Rowe founded Rowes Bus Service in 1942, aged 17, with a service between Rooty Hill and Plumpton and one five-seater bus.
He later changed the name to Busways, expanded the network across Sydney and today it is Australia’s largest family-owned and operated private bus company.
MORE:
English (US) · 