A Castle Hill apartment has sold for more than $1m at auction — the first to hit seven figures this year.
The three bedroom property at 306/12 Pennant Street in the Horizons complex, has a prime location across from Castle Towers and the new metro train station.
It attracted four registered bidders with its final sale price of $1.01m above its undisclosed reserve price. It was purchased by a local buyer.
Agent David Choy from McGrath Castle Hill believes it is the highest price paid for an established apartment in the suburb this year.
The unit, which is positioned above the local library, was inspected by 42 groups during its month long marketing campaign.
“It is located on the first level and has its own courtyard which faces onto the common property with a grassy lawn and frangipanis, “ Mr Choy said.
“It is a really well built spacious property with stone kitchen, nice bathroom and a double size garage.
“Everything is in walking distance just across the road.”
Latest figures show the median apartment price in Castle Hill is $820,000 with 156 sales recorded in the 12 months ending in April. During this time price have fallen almost seven per cent.
The apartment features a spacious master bedroom with ensuite and walk-in wardrobe while the other two bedrooms also have built-in cupboards. There is also a study nook, an internal laundry and ducted airconditioning.
Horizons is a secure building with intercom entry and an on-site caretaker. The most expensive apartment in the complex, a four bedroom unit on an upper level, fetched $1.375m in November 2017.
“This is a very tightly held building, very few come up for sale — is very secure, you need a swipe card for every level,” Mr Choy said.