Mega Weekend Results in $25,000,000 Selling Under the Hammer

14 December 2016

It was a cracker of a weekend for Savills as more than $25 million of residential property sold at auction.

The first auction of the day yielded an astonishing result and sold well above the reserve.

Located at 10 Bertram Street, Chatswood, the three bedroom 1960s yellow brick home on 418 square metres of prime level land, sold for $2.720 million.

Selling agent Thomas Skelly noted that there is huge pent up demand for properties in Chatswood and when one comes to the market, we are seeing phenomenal results.

Craig Marshall, Director of Savills Cordeau Marshall, said that the results on Saturday reflected the significant demand for property.

“With seven auctions, Saturday was a big day for our team. With more than $15 million worth of property sold on the day, all homes sold above, and in some instances far exceeded, the reserves,” said Mr Marshall.

Later that day Stephanie Hearne of Savills Cordeau Marshall sold 149 Archer Street in Roseville for $2.3 million.

“It was like winning the lottery for the owner when her three bedroom home of 30 years went to auction on Saturday. More than 150 groups inspected the property, 35 contracts were issued and 13 bidders registered to bid at the auction,” said Mrs Hearne.

Selling for over the reserve, the house was purchased by an overseas buyer who plans on renovating and living in the property.

Further auction sales of the day included:

  • 3 Lady Game Drive Lindfield sold for $1.861 million
  • 3 Cove Street Turramurra sold for $1.710 million
  • 25A Bobbin Head Road Turramurra sold for $2.307 million
  • 25 Catherine Street St Ives sold for $1.655 million
  • 15 Inverallan Avenue, West Pymble sold for $2,374,500

Eton Estate Auction

The merry auction season continued on Sunday with five rare land lots within Eton Estate selling for a cumulative total of $10.366 million. The highest price achieved on the day was for lot 4. The 880sq m lot sold for $2.2 million.

With a sausage sizzle and coffee van on site, the display suite was filled to capacity with eager buyers and onlookers.

David Poppleton of Savills said that the land lots, which ranged in size from 831sq m to 880sq m, attracted high levels of interest due to their prime location and close proximity to so many amenities.

“Lindfield already has a number of highly regarded schools and with the upcoming redevelopment of UTS to a K-12 state of the art school, many people will move to Lindfield to take advantage of these education facilities. These land lots offer the opportunity for families to create their dream home and to live in a prestigious neighbourhood suburb, with some of the state’s best school facilities” said Mr Poppleton.

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