Real Estate

strathfield family buys waterfront at chiswick for 5 95m

Written by The ReReport

29 Hezlet St, Chiswick sold for $5.95 million at today’s auction

A STRATHFIELD family nabbed a five-bedroom waterfront for a touch under $6 million at Chiswick at auction today.
Devine agents Fayez Yammine and Joe Kanaan had five groups register and three actively bid for the luxury home with pool and breathtaking views at 29 Hezlet St.
Bidding started at $5 million and went up in $50,000 and $25,000 increments and ended at $5.95 million.
The three active parties were all local families who intended to move in. One of the groups though had thought ultimately they may move in, do a renovation and whack it back on the market in a few years when the market improves.

29 Hezlet St, Chiswick, is in a prime location on the waterfront

The agents had been quoting $5.5 million during the campaign but it looks like the vendors, who are downsizing, must have got a bit over-ambitious on auction day.
They wouldn’t disclose the reserve, which is set on auction day, but it was understood to have been a bit higher than the sale price.
Mr Yammine said the result was “pretty competitive” in the current difficult market.
“We had five register but back in the boom we might have got 10,” he said.
“We had 20 contracts out but only three bidding.
“People are struggling to get the money together from the banks.”

29 Hezlet St, Chiswick has breathtaking views

Meanwhile, in Camperdown, a young couple were celebrating the sale of their apartment at 302/50-56 Mallett St.

Mel Winthorpe, 37, who works for the Environment Protection Authority, and Dan Sumpton, 37, a doctor at Concord Hospital, admit to a few pre-auction nerves during the campaign because so many properties aren’t selling.
“It was pretty scary,” Dr Sumpton said.
But they needn’t have worried — they had seven bidders register and six compete for the third floor one-bedroom unit, which didn’t have a car park but did have a view over Camperdown Oval.
It sold for $655,000 — $5000 above reserve — through Ray White’s Astrid Joarder and Nathan Briggs. The offers were down to $1000 bids at the end.

29 Hezlet St, Chiswick, had amazing outdoor areas

With its $550,000 price guide, it lured a mix of first home buyers, downsizers and an investor.
The investor from the Blue Mountains won the day, who can expect between $650 and $700 a week in rent.
Ms Winthorpe and Mr Sumpton had bought the unit for $452,000 in 2010 and lived their for a few years before buying a four-bedroom home at Westleigh.
They say the one-bedder got “a bit cramped” when Julia, now 5, came along. And since they’ve moved out, Elliot, 2, arrived.

Inner west hot auction - first home buyer frenzyHappy vendors Dan Sumpton and Mel Winthorpe with their kids Julian Sumpton (5) and Elliot Sumpton (2.5) at their unit at 302/50 Mallett St, Camperdown. sold today. Picture: Adam Yip

“This will free up some finances to do some renovations and reduce the mortgage repayments,” Ms Winthorpe said.
“We’re really happy with what we’ve got in the current market.
“We wish we’d sold a year ago when we first thought of it, but we were too busy.
“But you can’t look back, you can only look forward.”

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