THREE registered bidders fought it out for one of Collaroy Peninsula’s most significant properties, with a consortium of locals coming out on top to the tune on $10M at 9-11 Birdwood Avenue, Collaroy.
THREE registered bidders fought it out for one of Collaroy Peninsula’s most significant properties, with a consortium of locals coming out on top to the tune on $10M at 9-11 Birdwood Avenue, Collaroy.
“This was a massive result. The previous beachfront record was $8.7M, so that shows just how special this particular property was,” said Ray White Prestige (Palm Beach) Partner Michael King.
“We had both local and overseas interest from Singapore and India and the sale really does show the power of an auction in creating that competition.
“The location was the most important factor as it’s so near to one of NSW’s best beaches, so we’re not altogether surprised that it fetched $3M more than its valuation.
“Throughout the four-week campaign the interest was strong across the board and by the time auction day arrived, we had issued five contracts.”
Mr King said the seller was an Australian expat living in Hong Kong and it had been in the family for 35 years.
“The property became too much work to maintain for the owner and it was sold empty to a local consortium with the view to keeping it as a landmark home,” he said.
“Known as ‘Lorn’, the 1920’s bungalow is in the coveted south end of Collaroy Beach and zoned for low-density residential development STCA.
“It claims a 1,472sq m* north-facing parcel with exceptional wide street frontage of over 36 metres, directly across from the sand, surf and rockpool.
“It’s also on an elevated setting that delivers beautiful never-to-be-built out beach, ocean and headland views.”
