Real Estate

Builders pay $1.28m for old Wollstonecraft weatherboard

Written by The ReReport
As seen in the Source link, written by on 2018-12-15 18:18:00

A father and son building team bought an old weatherboard in Wollstonecraft at auction today for $1.28 million.

Auctioneer Peter Baldwin had six registered bidders line up for the two-bedroom cottage on a 295 sqm block at 21 Christie St.

It was an exciting auction to watch: a solid 35-minute auction with plenty of bids.

The cottage at the end of a cul-de-sac was advertised as presenting “an array of exciting options” that you could “spruce up a bit and rent out”.

However, Stuart Howard of Marriott said the buyers would take option three: to knock down the existing home and build a new one.

It’s unclear what the reserve had been. The price guide was $1.2 million.

Many agents in the north were shy of revealing their auction results today while others were too busy trying to wrap up a deal to pick up the phone.

The Agency’s Scott Thornton was coy about the result of the public auction of a three-bedroom, two-bathroom apartment with parking at 5/197 Walker St, North Sydney.

The price guide had been $1.3 million.

He could only say that it had sold for “around that”.

There’d been only one registered bidder, though another party who couldn’t attend the auction had made a pre-auction offer.

Similarly, a two-bedroom apartment with off-street parking at 6/522 Mowbray Rd, Lane Cove with a $550,000 buyer’s guide is understood to have passed in on a vendor bid of $600,000.

But when contacted, Ray White’s Paul Nees said: “We’d prefer not to disclose the price.”

There’d been three bidders register but only one active.

Many other homes were withdrawn ahead of auction, including the five-bedroom sandstone mansion on a 1,834 sqm block at 6 Ernest St, Hunters Hill.

Tracey Dixon of McGrath said she had a couple of buyers interested in the $6.8 million to $7.2 million range, but they were yet to sell their current homes.

‘Huaba’, c1890, looks to be a remarkable opportunity.

She’s hopeful of a sale over the next month.