Waterfront penthouse sells for $4.015m

Waterfront penthouse sells for $4.015m

A waterfront penthouse in Abbotsford has sold under the hammer for $4.015 million.

There were seven registered bidders at 7/9 Figtree Ave, with it coming down to just two battling at the end to secure the property.

It is easy to see why, with the four-bedroom penthouse in the Abbotsford Cove complex having amazing water views, its own level and private lift access.

Selling agent Fayez Yammine of Devine Real Estate said all who were interested were downsizers, with bidding starting at $3 million.

“It is a really unique penthouse that doesn’t come up very often,” he said. “It has a nice floorplan that suited downsizers.”

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The highest offer prior to auction was in the early $3 million range, while the price guide had been set at $3.25 million.

Mr Yammine and his colleague Joe Kanaan also had success in Russell Lea, where they sold a three-bedroom house at 37 Mons St for $1.54 million.

There were six registered bidders at the auction, with bidding opening at $1.4 million. Between three and four parties got involved, with a young couple upsizing winning the keys.

Interest had been around the $1.4 million to $1.5 million range, but the price went higher on the day due to increased competition.

“We are finding plenty of buyers around but they are just a little more cautious,” Mr Yammine said.

Over in Lilyfield a young family have snapped up a new home for $1.795 million.

The four-bedroom house at 1 Frazer St on a 335sqm block went to auction at 11.30am on Saturday, with three bidders registering.

Selling agent Simone Azzi of Belle Property Annandale had expected around five to show up, but on the day some got cold feet and three registered.

In the end there was one bidder who participated, with the buyer upgrading from a two-bedroom apartment.

“It was really popular throughout the campaign,” Ms Azzi said. “Not a lot trades here because it is so tightly held.”

There were over 170 groups through the inspections and 28 contracts issued.

The original price guide was set at $1.7 million.

It had previously sold in July 2011 for $910,000.

A dilapidated house in Lewisham has exploded at auction, selling $300,000 above the reserve.

The two-bedroom house on a 562sqm block at 32 Denison Rd has worn out interiors, with mould on the walls, old carpet and an old kitchen.

It was all about potential, as bidding started right on the reserve of $1.35 million, with half of the 13 registered bidders getting involved.

Over 100 watched on as Michael Xanthoudakis of Richardson and Wrench Newtown sold the property for $1.65 million.

“It was like the old days,” he said. “I haven’t had a sale like this since 2017. Whether it is a good sign or a one-off I don’t know.”


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