4/776 New South Head, Rose Bay sold for $4m at auction on Tuesday evening.
A couple from Sydney’s west who won a Rose Bay apartment in an RSL lottery six years ago has sold it for an extraordinary price at auction.
The three-bedroom apartment with Bridge, Opera House and harbour views at 4/776 New South Head Rd fetched $4m.
Richardson & Wrench Double Bay’s James Dunn, who had a $2.95m guide, said the security guard vendor and his wife were rapt.
“They’d been living out west and when they won the lottery after paying $50 for the ticket, they walked in, fell in love with the view, and decided to move in.
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It offers 116 sqm of living space.
But it’s the iconic view that sold it.
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“Now, they’ve decided to sell and they’re very happy with the price … we thought they’d get in the high twos to $3m but it was a very competitive auction and they got $4m.”
The result is close to double the $2,105,000 that the RSL paid for the 116 sqm first-floor apartment, which has just one bathroom and a single garage space, at auction in February 2019.
At Tuesday night’s auction, auctioneer Damien Cooley had four registered though just two competed from $2.9m.
It’s almost doubled in value in six years.
There’s just one bathroom, but it does come with garage parking.
The vendor is a security guard from western Sydney.
“It took a while to get started, but it was a ripper auction with $100,000 bids and it was all over very quickly.”
Dunn said those registered included an investor on the phone, a mum looking for her son, a young man and a local couple who have just sold nearby.
It was the local couple who won the keys.
“They’re looking forward to moving in,” says Dunn.
“They just loved the view, which is amazing.”
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