The tightly held prestige enclave of Balmain East has just seen a huge deal take place for a waterfront mansion ahead of its auction.
Located on the northwest side of the Balmain peninsula, the property is understood to have traded around the mid $6 million mark.
This pegs the result as the highest known waterfront sale in the inner west suburb since 17 Gilchrist Pl sold in November 2018 for $6.8 million. Future property records should also show the property as around the fifth highest sale ever in Balmain East.
Listed with Cobden & Hayson’s Matthew Hayson and Rita Loprest, the property had strong interest from a number of local buyers, as well as some from Hunters Hill, lower north shore and the eastern suburbs.
“People look at the inner west waterfront market as slightly undervalued and offering good value for money,” he said.
“If this home was in the same position on the northern side of the harbour, it would probably be worth more than $10 million.”
Mr Hayson said the 471sqm waterfront home looking towards Birchgrove was a rarity in this part of Sydney.
“Waterfront blocks in our area are usually on a steep decline, so it is very unusual to find one like this positioned right on the waterfront.”
The tri-level dwelling has four-bedrooms and a self-contained studio with games room on the ground floor. It also features a mezzanine gallery with electric louvres to let in lots of natural light and a main bedroom with a designer bathroom.
There is also a double garage, a granite gas kitchen, Jarrah floorboards and a 9.5m jetty for a boat.
Ms Devery has been chief operating offer of Winning Appliances since 2017. The company sells appliances ranging from fridges to barbecues and televisions.
The result comes at a time when the inner west property market is less than six months away from seeing house prices reach a record high.