Bellevue Hill home sells $1.3m over reserve at quick auction
It was, by all accounts, the most extraordinary midweek auction with an unbelievable result.
The Cary family home for more than 60 years at 2 Kulgoa Rd, Bellevue Hill sold for $8.3 million — $1.3 million above reserve.
Sotheby’s managing director Michael Pallier had three register with two active.
With the bidding starting at $6 million, the crowd was stunned to see a quick flash of $500,000, $200,000 and $100,000 bids and it was all over in about 30 seconds.
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”We had a budget of $7 million to $7.5 million for a block of land but we couldn’t get a bid in,” said buyer’s agent Carli Skurnik of One Buyers Agency.
“The agent had a brief from his client to get it at any cost.”
It’s likely the purchaser is an eastern suburbs family who will knock the old home down and build a designer palace to capitalise on the elevated views across Double Bay and Bellevue Hill to the city skyline.
The old five-bedroom home was on an 858 sqm block.
The sale occurred on September 24 but was revealed as the east’s biggest sale under the hammer in CoreLogic data supplied this week.
Meanwhile, at an auction on Wednesday night, young families — many of them first home buyers — fought desperately for a relatively affordable home in the east with access to a big yard.
Phillips Pantzer Donnelley’s Sean Poche had 13 bidders register — six of them active — for the two-bedroom apartment at 2/28 Attunga Rd.
It sold for $1.22 million — $170,000 above the reserve price.
“It started off pretty quickly and kept on going,” Mr Poche said.
“A lot of the bidders didn’t have an opportunity to raise their paddles.
“It just shows how strong the market is at the moment and how much it’s heating up.”
He attributed the strong result for his vendors, client director Jake Berger and his wife Jess, to the fact it was in a block of just four and the big yard.
Bidding had started at $930,000 and risen quickly in $20,000, $10,000 and $5000 increments.
In other big east results, the Bellevue Hill home of Richard Manning, director of Investment and Asset Management at the design and construction company Ganellen, has sold for about $7.5 million.
The guide for the four-bedroom, two-bathroom home with double garage on 743 sqm block at 6 Holland Rd had been “late sixes”, through Ray White’s Kate Zuppicich and Elliott Placks.
CoreLogic records show Mr Manning bought it last September for $5,530,000. He’d done a big renovation.
Mr Placks and Talia Levy also sold a three-bedroom apartment at 8/45 Wolseley Rd, Point Piper for $5.4 million.