Groovy 1970s unit sells for $1.35m

Groovy 1970s unit sells for $1.35m

It was back to the future in Coogee on Saturday morning, as an original 1970s apartment sold under the hammer for $1.35 million — $225,000 above reserve.

The three-bedroom unit at 2/68-70 Bream St had been in the same family since 1974, when it was purchased off-the-plan.

The prime location was a major reason why it was so popular, with selling agents Peter Tsekenis and Elia Economou of Ray White Brighton-Le-Sands having around 14 registered bidders.

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There was a large cross section of parties interested, with owner ­occupiers, investors and renovators all keen to snap up the 103sqm apartment that came with a double garage.

Bidding started at $1 million and rose quickly, with five parties ­battling hard to secure the property. In the end it came down to just two, who exchanged the final 10 bids.

An investor with plans to renovate the unit and rent it out was the buyer.

“The vendors were ecstatic with the price,” Mr Economou said. “There was a lot of interest and a good turn out on the day.”

The unit is just 300m from Coogee Beach, while the interiors provide a true look at styling trends in the 1970s. There is a green kitchen, shaggy carpet in the main living area and groovy wallpaper. It comes with two bathrooms and a sunroom.

It was sold by the family of the owner, who had moved into a home.

There were 120 groups through inspections and around 20 contracts were issued.


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