A Bronte house has sold for $2.5m more than the owner’s expectations.
The ocean view property at 154 Macpherson St had a crowd of over 80 people come to see the four-bedroom home sell for $13m at auction on Saturday – the top result for Sydney auctions over the weekend. The reserve was $10.5m.
The opening bid started at $10m, with bids going up in $100,000 increments.
There were seven registered bidders with four of them active.
PPD real estate agent Alexander Phillips said the auction was “very quick,” with it all over within five minutes.
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154 Macpherson Street, Bronte sold for $13m, with the owners hopes were $10.5m.
The large Bronte home.
On top of the location and ocean views, Mr Phillips said it was “the north aspect, the layout and the garage as well,” that enticed the buyers in.
“The previous owners have owned it since the early 1990s,” he added.
Property records show it sold for $375,000 in 1993.
The property was auctioneered by Paul Crawford, and the buyers coming out on top were a family from the inner west.
In another eastern suburbs sale, a two-bedroom apartment in Double Bay has sold almost $300k above reserve.
The apartment overlooking the harbour had eight registered bidders and sold for $1.685m with a reserve of $1.4m after guiding $1.3m.
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Views from the Double Bay apartment.
The auction was held on the buildings private beachfront, with hopeful buyers and the crowd of around 100 people standing on the sand.
Sean Poche from PPD Real Estate said that it was a great result with a property that had some “restrictions.”
“All the bidders were owner occupiers because if you want to rent it out, you have to own it for two years,” he said.
Located in a “beautiful art-deco building,” unit 12 at 22 Stafford St, Mr Poche said the units didn’t come up for sale very often.
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The private lawn and beach access only for residents.
“It’s a deceased estate selling for the first time in 42 years,” he said.
“You hear that water against the sand, the boats tinkling and you have access to the front garden area. You can sit there and look at the most amazing views which is essentially a private beach, so that was absolutely the trump card for the property.”
Auctioneer of the property Clarence White said it was a well contested auction.
“We’ve been in a very price cautious market – sticky market, buyers have been tentative and noncommittal – I would say the last couple weeks there has been a subtle change,” he said.
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Inside 12/22 Stafford St which sold for $1.685m
“It’s so attached to the rates a whole buying group out there – all owners occupiers, very few investors – tha are all are thinking do we buy now or wait until rates come down, theres a real tentativeness in that buyer group.”
In the hills, a run-down home has sold for $2.755m, more than $250,000 above the owners expectations.
The renovators delight was sold by Grant McEnally at Guardian Realty Castle Hill.
Located on Ulundri Dr, the home appealed to buyers due to its position and proximity to shops.
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45 Ulandri Drive in Castle Hill.
Fitted with dated interiors, the double brick exterior and floor plan was desirable sitting on a large 900 sqm block with five bedrooms, four bathrooms and a double lock up garage.
“The bidders were a mix of people who wanted to simply acquire the house and knock it down to make say for a designer residence, and those who saw potential in its structure and wanted to bring it back to modernity,” said auctioneer Stu Benson from Benson Auctions.
The home was dated inside, appealing to renovators.
“There was plenty of chatter about the Metro throughout the crowd, which as of this week now connects Castle Hill directly to Barangaroo. I think the Hills Shire is set for a solid Spring and Summer selling season,” he added.
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