Family consider knocking down $2.5m Rosebery relic after auction win
A Rosebery relic kept in the same family for 90 years sold for $2,515,000 at auction on Saturday to a family from the suburb.
The antique brick home, with bygone era features including a jade green bathroom and sullied lino floors, is likely to be replaced with a new house. Pre-auction interest in 9 Sutherland Street hovered around $1.9 million.
There were 12 registered bidders and four took part. The family who bought the two-bedroom period home, for $415,000 above the $2.1 million reserve, had been searching for two years.
The property was one of 949 scheduled to go to auction in Sydney this week. By evening, Domain Group recorded a preliminary auction clearance rate of 70.3 per cent from 595 reported results throughout the week, while 128 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.
The Agency’s Chris Skarlatos said the contest opened with an attempted “knock-out bid” of $2 million.
After it was called on the market at $2.1 million, bidding shortened from $50,000 increments to $30,000, as strategy and cunning came into play.
“It just kept going,” Skarlatos said. “Everyone was using different tactics – higher bids and smaller bids.”
The winning bidders entered the contest early and hung on. Their likely plans are to start afresh on the 468-square-metre block.
“They are thinking a knockdown might be the easier option, and the underbidder was actually going to keep it and renovate,” Skarlatos said.
All proceeds from the sale will be donated to charity.
In Lane Cove, emotions spilled over when parents bought a neat three-bedroom property for their son for $2.95 million.
The double-brick home at 11 Mooney Street had a guide of $2.75 million and an initial reserve of $3 million. There is no legal requirement for a vendor’s reserve to be in line with their property’s price guide.
There were two registered bidders, but only one took part. The auction commenced with a $2.75 million vendor bid, and the single bidder threw in $2.8 million. They were advised it was not enough, so they bid against themselves to $2.9 million.
Agents took advice from the seller to adjust the reserve to $2.95 million, which the bidder rose to, and the auctioneer dropped the gavel.
Belle Property Lane Cove’s Patrick Lang said the auction had the spectrum of emotions.
“The owner grew up there – he was born there,” Lang said.
“It’s been a long time coming, and it was a sad moment to let the family home go. But the purchasers were just the loveliest people and they loved the house.
“They bought it for their son to start a family, so it was a big family event. It had happiness and tears – all of the above.”
In East Killara, families drawn by the stature of the local secondary college drove the auction of a five-bedroom home. It sold for $3.75 million, $200,000 over the reserve.
Five of six registered bidders competed for the roomy, partially brick house at 10 Roper Place. Offering a swimming pool, a fire pit and green outlooks, it was listed with a guide of $3.4 million.
Roper Place is within the catchment for the well-regarded Killara High School and this was a drawcard, Ray White Upper North Shore’s Jessica Cao said.
She said the auction was intensely paced, and took its time to hit the $3.55 million reserve.
The buyers are a young family who are upsizing from an apartment.
“It is the first property they have owned in Australia,” Cao said.
The underbidders were a family with school-aged children who currently live in the suburb but were seeking more space.
“They are disappointed they didn’t get it,” Cao said. “But I said to them, ‘I’ll try to find you something’.”
Sensational views in North Narrabeen compelled six bidders to compete for a perfectly preserved property overlooking the ocean. It sold for $2,555,000 to a couple with children.
The four-bedroom house at 9 Amelia Place was offered to the market for the first time since it was built 50 years ago.
McGrath Collaroy and Dee Why’s Julie Lloyd said the water panorama, presentation and cul-de-sac position were crowd pleasers.
“There wasn’t a cobweb on the brickwork,” she said. “It was really lovingly held. I think people walked in and got a really nice vibe.”
Bidding opened precisely on the guide of $2 million and the reserve was reached at $2.2 million.
The most serious interest came from buyers within the district.
“Mostly they were from the northern beaches,” Lloyd said. “There were a few people from out of the area that came through during the campaign.”
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