12A/77 Ramsgate Ave, North Bondi, has a $1.7m guide for an October 11 auction.
It’s a piece of North Bondi property that’s rarer than an apartment with a beach view — and the agents are throwing in a 32sqm one-bedder as part of the deal.
“It’s the closest private garage this close to the sand,” says selling agent Christophe Serrao, who shares the listing with his dad, Ric.
“We’ve even got a couple from Vaucluse interested who want to just park their car there while they go to the beach.”
The freestanding garage — and 32sqm north-facing apartment — is at 12A/77 Ramsgate Ave and it’s scheduled for auction next Saturday (October 11).
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The 32sqm north-facing apartment doesn’t have a view of the beach.
,,, but you can see it when you step out the front door.
Not surprisingly, the agents have issued 27 contracts to interested purchasers.
When first listed, the guide was $1.5m, based on two other one-bedders close by in the block of 15 that sold recently for $1.45m each, though they didn’t have the garage or even off-street parking.
Christophe upped the guide to $1.7m after an offer during the week.
What’s it going to sell for? Christophe says he doesn’t know.
“We don’t even know what people will pay for a view, so it’s very difficult to say what they’ll pay for a garage,” he said.
“I can’t tell you how rare this property is. We would sell 10 times more properties with a view than a garage and this garage has a separate title.
“So the buyer could buy the apartment and garage, but then rent out or sell the apartment, and keep the garage and pass it on down through the generations.”
There’s a tiny kitchen…
… and just one bedroom. But then, it’s really all about the garage.
The community title property is owned by Jamie and Sky Mackay, who bought four apartments on the top floor, which came with three garages, through the Serraos for $9.9m 11 years ago.
They then combined the four apartments to create one huge penthouse, and have now opted to sell the one-bedder downstairs and one of the garages.
He reckons the penthouse alone could now be worth about $40m.
The Mackays are the only owners with garages but Christophe says just two of the other owners, mostly investors, have taken contracts.
“Most of the others who are interested are locals nearby who currently don’t have parking but also some from elsewhere, Vaucluse and overseas,” he said.
Obviously it will sell well over the guide, which is based on previous sales. But a similar one-bedder in the block, with a view of the water but no garage (or off-street parking), had a $1m guide sold for $2.32m in February.
“This one doesn’t have a view of the water, though you can see it and the beach when you walk out the door,” Christophe said.
He estimates the apartment would rent out for between $1200-$1300 per week and the garage $250-$300 per week.
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