Big prices top off a strong selling week on the lower north shore
Big sale – 27 Avenue Rd, Mosman.
The early return and strength of the lower north shore’s property market has had plenty of people speculating about how big 2021 could be.
With two solid weekends of auctions done and dusted, strong sale prices are supporting the prediction that this is going to be a great year.
MORE: Sizzling market records highest price in four years
New life for old boarding house
Among the big prices worth noting from last week was the sale of a luxury apartment in McMahons Point for about $7.95 million and the sale of a renovated four-bedroom home at 27 Avenue Rd, Mosman, for $4.38 million.
What makes this sale a standout is the fact it last traded in November 2019 for $3.7 million.
The owners have done nothing major to the home, but have pocketed an impressive profit after just 15 months of ownership.
The sale, negotiated by Chris Girling and Bernard Ryan of the Ray White Lower North Shore Group, took just 14 days to complete.
27 Avenue Rd, Mosman.
Outdoor dining.
Mr Girling said buyers lived the elevated Federation home that had been renovated to make the most of its classic features, while adding some contemporary comforts.
The location – close to the harbourfront, Mosman Bay Wharf, Reid Park, Memory Park, Avenue Road shops and local cafes – was another major drawcard.
“There were probably five (potential buyers) who really loved it, and three that were very determined to buy it,” he said.
“It was very hotly contested – all three were still on it north of $4.2 million.”
The result has delighted the vendor, who decided to make a COVID-inspired move to the Sunshine Coast.
“It was a lifestyle decision,” Mr Girling said.
“He wasn’t doing it to break even, but at the end of the day he made money, which was a bonus.”
He said there were plenty of buyers around, but not nearly enough stock, making it a perfect time to sell.
“Most people are saying they’ve never seen so many people out and about looking,” Mr Girling said.
“People haven’t gone on holidays so they have more savings and they’re putting it into housing.”
DOWNSIZERS DIG DEEP
A family who are downsizing so they can spend more time at their farm outside Sydney have spent about $7.95 million on a luxury apartment at McMahons Point.
Adrian Bridges, of Atlas By LJ Hooker, said the family loved the space and the views offered by the four-bedrom apartment at 201/3 East Crescent St, that occupies the entire second-floor of the boutique Bradfield residences building.
201/3 East Crescent St, McMahons Point.
Open plan living.
Most of the rooms in the apartment have views across Lavender Bay to the Harbour Bridge and Luna Park.
And there is just about every luxury you could want from a home – from private lift access and facial recognition entry, to media room, home office and gym.
The covered balcony off the living space captures the view in all its glory.
Mr Bridges said there had been a lot of interest in the apartment, especially after the sale of another apartment in the building.
“It’s been a domino effect since we sold the garden apartment in the week leading up to Christmas,” he said.
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The sale means there is just one new apartment left to be sold in the building.
“It’s actually one of my favourites in the building – I think we have saved the best til last,” Mr Bridges said.
The four-bedroom apartment takes up the entire first floor and comes to market today with a price guide of $7.5 million.
LUCKY BREAK, OR NOT
Luck was definitely on the side of the owners of a two-bedroom apartment at Kurraba Point.
The campaign for 1/168 Kurraba Rd, kicked off without a hitch, save for one incident in which a mirror fell off the wall.
Luckily the mirror didn’t break and was secured to the wall, where it remained firmly in place.
Mirror mirror, on the wall – 1/168 Kurraba Rd, Kurraba Point.
Live large.
Having avoided seven years of bad luck, had the mirror broken, the property went from strength to strength.
Interest was so intense, that after more than 100 groups went through the home, agents Chris Davies and Matthew Smythe, of Belle Property Neutral Bay, decided to bring the auction forward by a week.
Leafy locale.
This also proved a good move, with nine bidders registering on auction day.
The two-bedroom apartment sold for $1.72 million.
“People think the apartment market isn’t as strong as houses but we had over 100 buyers through this property and achieved a fantastic result for our vendors at $120,000 above reserve,” Mr Davies said.