Real Estate

house of fun in drummoyne sells for 5 8m 650k above reserve

Written by The ReReport

An excited Ross and Tricia Haron with their eight-year-old son, William, on the balcony of their Drummoyne home. Picture: Luke Drew

A Drummoyne family are upgrading to the waterfront after selling their luxury designer home complete with putting green for $5.8 million — a whopping $650,000 above reserve — this morning.
Ahead of the auction of the three-level four-bedroom home, which also had a garage, lift, pool and spa at 53 Dening St, the local Italians were overheard exclaiming “Mama Mia” with the local Chinese quietly absorbing the quality finishes and the water view.
But with five registering to bid at Ray White Drummoyne Chris Wilkins’ auction, it was the three local Chinese families who got involved.

The remarkable home at 53 Dening Street Drummoyne

Calling for bids, auctioneer Peter Matthews was offering a bottle of Champagne as inducement, with a young man in a black cap — acting for a Drummoyne family currently overseas on the end of the phone — coming forward with $4.3 million.
He exchanged $100,000 bids with a North Sydney family to $4.7 million.
His opponent then attempted a knockout bid of $4.9 million, which looked to have worked: “I’m going to pass,” the young opening bidder said, complaining of technical difficulties reaching his friends.
But that’s when the other family, also from Drummoyne and the eventual purchasers, jumped in offering $5 million.

Hot inner west auctionThe underbidding family attempted a knockout offer of $75,000. Picture: Luke Drew.

This got the auctioneer excited. Looking to the other family, Mr Matthews said: “I’ve not been asking for enough — can we say $6 million? Let’s go for $10 million!!!!”
That didn’t happen, but the $100,000 bids continued flying between the two remaining families and as they arrived, Mr Matthews encouraged applause from the huge crowd that had gathered.
At $5.6 million, the underbidders dropped their offer to $50,000; quickly matched by the eventual buyers.
The underbidders then attempted a final knockout offer of $75,000.

Hot inner west auctionThe buyers make their winning bid of $5.8 millon. Picture: Luke Drew

But the buyers must have smelt blood: their offer of just $25,000 more — $5.8 million — won them the keys.
Vendors Ross and Tricia Haron, who have bought a waterfront home in east Drummoyne a few months ago prior to its auction, were thrilled with the result.
“It’s surprising given the market conditions,” Mr Haron, who owns high-end shop-fitting firm Transform Retail Projects.
“But we built the perfect house and Chris ran a perfect marketing campaign.”
The couple had bought the battle-axe 771 sqm property, which had a project home on it originally, for $1.45 million in 2004.
Then eight years ago they built the Richard Archer-designed home — which had a lift going between the three levels — for about $1.5 million. They’ve also done about $200,000 worth of improvements in recent years.
Mr Haron said he and the family regularly used the putting green. Up until recently he was captain at the Concord Golf Club.

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