A house auction in Sydney has raised more than $10 million for a children’s education charity in a generous final gift by a revered doctor remembered for her philanthropy.
The five-bedroom house at 9 Surfside Avenue, Clovelly went under the hammer on Valentine’s Day, drawing competitive bidding and selling for a staggering $10.425 million.
The beachside home, known as ‘Caleula’, was owned by cardiovascular physician, researcher and scientist Dr Karen Duggan, who passed away two years ago.
Dr Duggan, who had inherited the property from her late parents Andy and Jess, bequeathed the sale proceeds of the property to The Smith Family to help disadvantaged young people through education.
The auction attracted eight registered bidders on the day, with five active players vying for the 778sqm property.
Bidding started at $8 million – above the $7.75 million price guide – and marched higher until the hammer fell at $10.425 million.
The late Dr Karen Duggan donated the proceeds of the house sale to the Smith Family. Picture: Supplied
Chief executive of The Smith Family, Doug Taylor, told the Daily Telegraph that the sale of the home would help to support nearly 1,300 students over the next five years.
“That’s almost like supporting a whole school,” he said.
“It’s a powerful legacy to leave for Dr Karen Duggan and her parents, who have had that home since the 50s.
The five-bedroom house at 9 Surfside Avenue, Clovelly sold for more than $10.4m. Picture: realestate.com.au
“We also have a team of workers in 90 communities across the country and their focus is supporting parents’ care as they face challenges in life.”
Listing agents Alexander Phillips and Thomas Fuller of PPD Real Estate also donated their commissions to the charity.
The Valentine's Day auction attracted a substantial crowd. Picture: Rohan Kelly
Prior to the auction, Mr Fuller said Dr Duggan’s philanthropic act would help set up future generations.
“She was a philanthropist and an amazing woman,” he said.
He said the house had been very popular during the campaign due to its location and the size of the block.
“If you look at Clovelly, there's only a handful of properties that have direct access to the beach like that, so it's quite a scarce property,” Mr Fuller said.
The home is one of a limited number of properties with direct access to the Clovelly beach via a nature reserve. Picture: realestate.com.au/buy
“It’s also one of the biggest residential or house and land holdings in Clovelly, so to have a large land holding that close to the beach, it’s definitely well desired.”
The freestanding double-fronted house has five spacious bedrooms, including a newly renovated two-bedroom apartment at the garden level.
Clovelly is a popular beachside location in Sydney’s eastern suburbs, situated about eight kilometres southeast of the city centre.
Clovelly’s median house price has increased 24.3% to $5.785 million during the year to January, according to PropTrack.
Dr Duggan is remembered as a “world leading” nephrologist – specialising in kidney health – and an outstanding cardiovascular physician and researcher.
She was Associate Professor of Medicine at the University of NSW from 1995 to 2008 and served on the advisory committees for the National Heart Foundation, NSW Department of Health and the Commonwealth Department of Health and Ageing.
Dr Duggan co-founded Vectus Biosystems, focusing on treatments for fibrosis and high blood pressure.
The Smith Family provides financial support for education-related expenses like school uniforms, books and laptops to disadvantaged children.
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