25 Beach St, Tennyson Point, has its own sandy beach.
A knock-down-and-rebuild house with uninterrupted river views and its own sliver of sandy beach has sold at auction for $4.96 million.
A crowd of about 100 turned up to 25 Beach St, Tennyson Point, on a sunny but windy Saturday to watch seven of 15 registered parties bid.
Declared on the market at $4.92 million, the property sold for $40,000 more, Joseph Mazar from Ray White — Gladesville and Ryde said.
The sale almost topped the list for the most expensive sale in Sydney last weekend, according to realestate.com.au.
It was only eclipsed by the $5 million result for a five-bedroom house in exclusive Darling Point in the eastern suburbs.
Mr Mazar said most of the bidders were locals, with the underbidders from Tennyson Point and the new owners, a family with three children, from neighbouring Putney.
The four-bedroom house on a 1113sqm absolute waterfront block with a 20m frontage has been owned by the same family for 70 years, since 1948, Mr Mazar said.
It has uninterrupted views of Morrison Bay on Parramatta River and is one of the few properties in the vicinity to have a private strip of beach.
25 Beach St, Tennyson Point, is one of only several properties in the vicinity with a beach.
Mr Mazar said the new owners would eventually demolish the original house.
“They will build a family home there in a couple of years,” Mr Mazar said.
The sale is a new record for the street but not the suburb.
That record was set by the sale of a luxurious 10-year-old house on about 1400sqm of waterfront land at 72 Champion Rd.
It fetched $8.3 million in October 2016, in a buoyant market.
Mr Mazar said the weekend sale was “on the money. It was a fair price for both the seller and the buyer,” he said.
Mr Mazar said the softer market did not seem to be having a negative impact on certain properties.
“The price achieved for Beach St says a lot about the property. When you have a great property, great marketing and a great agent, and I’m not just talking about myself, you are more likely to get a successful outcome,” Mr Mazar said.
It was all about the land and the location: 25 Beach St, Tennyson, sold for $4.95 million.