Property Development

Kincumber acreage with original house smashes reserve at auction

Kincumber acreage with original house smashes reserve at auction
Written by The ReReport
As seen in the Source link, written by dailytelegraph.com.au on 2019-07-09 11:16:22

Kincumber acreage with original house smashes reserve at auction.

A Kincumber acreage with an original house that had not been offered for 91 years has sold under the hammer for a massive $275,000 above reserve.

With eight registered bidders, all local, the property at 14 Brennan Ave was sold for $1.425 million.

“The land was what sold it, it was a great parcel — all sunny, north-facing and conveniently located,” agent Chris Andrews from McGrath Terrigal said.

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The prime, north-facing parcel is just five minutes from the beach.

The original house will need some renovating.

“We had over 60 inspections, 145 emails and 28 contracts issued. This was a great auction, with four active bidders.”

Set on 1.49 hectares of cleared land, the property would be ideal for horses or established gardens.

Just off Avoca Dr, the location is close to everything and five minutes from Avoca Beach.

A deceased estate property, Mr Andrews said that the vendors were three local siblings.

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“Their parents bought the house from their parents, so it had been a long time in the family,” he said.

“The 1974 brick and tile house was a bit of a time capsule, but in good working order.”

According to CoreLogic, the sale was the highest price for Kincumber this year, and a record for Brennan Ave.

The highest previous sale was 19 Brennan, which sold in 2016 for $1.15 million.