Finance Property Manly mansion goes for $9 million – in biggest auction bonanza since 2014

Manly mansion goes for $9 million – in biggest auction bonanza since 2014

Two keen buyers bidded up the price way over the reserve. Photo: Clarke & Humel
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A five-bedroom home in Manly fetched $9.71 million, the weekend’s top result, when national auction levels hit all-time highs in the pre-Easter sales rush.

The home at 67 Bower Street, one of nearly 1100 to go under the hammer in Sydney on the biggest auction day so far of the year, sold for close to $2 million above the reserve.

Clarke & Humel agents Michael Clarke and Cherie Humel indicated two buyers were especially keen.

There were six bidders registered, with four active after bidding started at $7 million for the house built in the style of a resort-like Mediterranean luxury villa.

The Manly mansion has five bedrooms, three bathrooms, two parking spaces – and a pool. Photo: Clarke & Humel
The property is located in Manly’s most exclusive seaside address, Bower Street. Photo: Clarke & Humel
The new owners will enjoy a short stroll to Shelly and Manly beaches. Photo: Clarke & Humel
The home sold for almost $2 million over the reserve. Photo: Clarke & Humel

Across the harbour, the prominent Sydney restaurateur Kingsley Smith and hotelier wife Natasha Stanley secured $8.45 million when their Vaucluse home went to auction.

The couple paid $5.01 million for the home in 2014.

The Vaucluse property was custom-built by architect Ian Poole for former owners, with six bedrooms, separate guest accomodation, a study and a heated infinity edge swimming pool amid manicured gardens.

McGrath Group had a guide of $8 million.

This Vaucluse mansion has views of the Opera House and Harbour Bridge. Photo: McGrath
It boasts six huge bedrooms, four bathrooms and four parking spaces. Photo: McGrath
The teens even get their own retreat. Photo: McGrath

There was also a strong result in Sydney’s inner west, where a six-bedroom Strathfield home on 1359 square metres fetched $5.9 million.

The 64 Redmyre Road, Strathfield sale was $600,000 above reserve.

The property had failed to sell in a campaign with other agents last year.

There’d been eight groups register, with The Sunday Telegraph reporting a local Chinese family were the successful purchasers with a local Vietnamese family the underbidders.

CoreLogic calculated the total of 3967 auctions held across the combined capital cities exceeded the previous highest week on record – the week ending November 30, 2014 when 3908 auctions were held.

Sydney’s preliminary clearance rate stood at 66.2 per cent based on the initial 1037 reported results.

The weekend’s cheapest sale was a one-bedroom at 16/57 Kingsville Street, Kingsville in Melbourne’s inner west.

The updated top-floor, second-level 1970s apartment sold for $247,000. Its price guidance had been $210,000 to $230,000.

It last sold in 2002 at $110,000. It had been a $240 a week rental until recently.

There was a $5.8 million Toorak sale which topped the Melbourne results.

The 725 square metre lot at 27 Linlithgow Road came with the option to complete the somewhat progressed luxury two-apartment Tudor style redevelopment or start again on a single home. The price guidance had been $4.2 million to $4.6 million.

A converted Fitzroy church hall at 182 Fitzroy St — which featured as the home in Guy Pearce’s TV drama Jack Irish — sold for $2,446,000 bettering its reserve by $446,000.

There had been $1.9 million to $2 million price guidance for the gold-rush-era Independent Hall which has served as a church, Aboriginal mission, kindergarten and film set.

Since 1973, it’s been a home, Nelson Alexander agent Rick Daniel said.

“Across Melbourne, a total of 2078 homes were taken to market across making it a record busiest week in CoreLogic history; surpassing the previous record over the week ending October 29, 2017 when 1983 auctions were held,” CoreLogic auction analyst Kevin Brogan said.

Melbourne’s preliminary auction clearance rate fell with these higher volumes to 67 per cent, down from the previous week’s 68.7 per cent.

Canberra had the nation’s highest preliminary auction clearance rate at 73.8 per cent, based on the results of 107 of the 129 scheduled auctions.

Canberra’s top sale was a luxury Yarralumla residence designed by architect Paul Tilse.

Its land value was put at $937,000 with a single-level solar passive contemporary home that has a 6 out of 6 star energy rating.

It was constructed in 2016 by builders Sutton and Horsley in the grounds landscaped by Foxy’s Landscapes.

Brisbane reported a 49.2 per cent preliminary clearance rate with 194 scheduled auctions, down from the final figure of 51.9 per cent over the prior weekend.

Brisbane’s cheapest sale was $320,000 in Hamilton. The 1/104 Windermere Road offering was last sold at $38,000 in 1980.

Ray White selling agent Guy Horsley said the vendor was moving to a retirement home.

Set in a block of only four units, it came with three bedrooms and one bathroom with lock-up car accommodation, with 125 square metres of living space.

Adelaide’s 67.3 per cent success rate, with 143 scheduled auctions, was the second best across the capital cities.

But it was below the previous week’s preliminary 69.7 per cent figure which ended with a final revised tally of 64.3 per cent.

Adelaide prices ranged from $395,000 at Trott Park to $1.62 million at Norwood.

The three-bedroom sandstone 105 George St, Norwood offering through Toop & Toop had been in the same family for six decades.

The four-bedroom split level 46 Hessing Crescent, Trott Park offering had come with $350,000 price guidance.

Jonathan Chancellor is editor at large at Property Observer

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