The front entrance to the three-storey propery at 81 Seaview Road Tennyson. Picture: Sotheby’s International Realty
After more than four years on the market, 11 different agents and hundreds of people through its front door, a sprawling beachside mansion has finally sold for a record price of $5.2 million.
The three-level property on Seaview Rd, Tennyson, was the passion project of the Shahin family but has been vacant for several years as the prominent Adelaide family searched for a buyer.
The dining and living area with view over the sea, at 81 Seaview Road Tennyson. Picture: Sotheby’s International Realty
After four years, the Shahins commissioned Sotheby’s International Realty to take charge and, yesterday, the house sold to an Adelaide family at auction.
With more than 100 people in attendance, the bidding came down to the local family and a NSW bidder.
Starting at $4 million, the bidding increased in $100,000 increments. The NSW bidder was coaxed into a final bid at $5.1 million before throwing in the towel when that was trumped.
He was one of the first to congratulate the new owners after the hammer fell.
81 Seaview Road Tennyson. Supplied by Sotheby’s International Realty
The price is one of the highest this year, eclipsed only by the $5.3 million October sale of a historic villa in Marden.
Sotheby’s Adelaide director, Grant Giordano, said the sale was a relief for the buyer, and also a sign that the Adelaide property market had the potential to attract national and international buyers.
“For us, the price is good but it shows that there is confidence in the market,” he said.
“What this says about Adelaide and how affordable it is compared to other markets is most important.”
Sotheby’s Adelaide director, Grant Giordano, said the high-end sale showed confidence in SA’s market. Picture: AAP / Keryn Stevens