Foreign buyers and expats went toe to toe for this phenomenal five-bedroom home, but a local family won the day.
Foreign buyers and expats went toe to toe for this phenomenal five-bedroom home, but a local family won the day.

Locals beat foreign buyers to stunning $13m home

A 1930s classic set on a whopping 1300 sqm in prestigious Clifton Gardens has found a buyer after coming to market late last year.

The five-bedroom home at 26 Kardinia Rd, Mosman, attracted buyer interest from around the world, especially from expats, said agent John Sullivan, of Di Jones Mosman.

He received hundreds of inquiries on the property, which had a guide of $13 million to $14 million.

26 Kardinia Rd, Mosman attracted international interest.
26 Kardinia Rd, Mosman attracted international interest.

"There was interest from Hong Kong and Singapore, and expat activity was strong," he said.

But in the end, the buyer turned out to be a local family who fell in love with the home and its spectacular harbour view.

"The house itself was built in the 1930s and the owners did a lot of work about 10 years ago, but it needs a bit of work," Mr Sullivan said.

"I think the family are planning to do some renovations in the future."

Mr Sullivan would not comment on the sale price, but industry sources have revealed it sold for around the guide.

He said the home had been much-loved by its owners, who loved entertaining, and had even held their daughter's wedding there.

It came with an incredible layout and view.
It came with an incredible layout and view.

The home accommodated some 3250 guests comfortably at the wedding - which is a massive testament to its size. In addition to the internal chef's kitchen there is a fully equipped outdoor kitchen and dining space and a huge sandstone terrace that makes the most of the point-blank harbour view and the sunshine.

Now that’s a well stocked wine bar!
Now that’s a well stocked wine bar!

Other features include an architect-designed wine cellar and wet bar with room for more than 3000 bottles, a private rear courtyard, pool, grand entrance and large garage with attic storage.

Clifton Gardens beach is a short walk away.

"It's a great entertaining house," Mr Sullivan said.

"But it really is all about the amazing views, I think they are possibly the best views in Mosman."

EARLY AUCTION

Such was the level of buyer interest in 76 Avenue, Rd, Mosman that the agents brought the auction forward by a week - a trend that is becoming more common on the lower north shore.

Average days on market fell to 25 in March in the North Sydney and Hornsby region, according to new data from realestate.com.au. This was slightly lower than the NSW average of 27 days on market.

76 Avenue Rd, Mosman sold for $3.9 million … dog not included.
76 Avenue Rd, Mosman sold for $3.9 million … dog not included.

But agents are reporting anecdotally that auction campaigns - if the property even makes it to auction - are becoming as quick as two or three weeks.

In the case of 76 Avenue Rd, which was featured as The Mosman Daily's House of the Week, there was so much interest, that agents Anthony Godson, of Atlas by LJ Hooker Lower North Shore, and David Benjafield, of Belle Property Neutral Bay, brought the auction forward.

"We had the interest there, so there was no need to wait," Mr Godson said.

In the lead up to the auction they showed more than 100 groups through the four-bedroom home with restored period features, and issues 18 contracts.

On auction day, six bidders registered and three took part in the action, before a crowd of about 60 people. The property sold under the hammer for $3.9 million, to a young family from Lilyfield.

Mr Godson said interest in the property had come mainly from young families and downsizers.

"It was the perfect home for them (the buyers) - it ticked all the boxes they were looking for," he said.

The buyers of 76 Avenue Rd will be cosy this winter.
The buyers of 76 Avenue Rd will be cosy this winter.

Mr Benjafield said it was a strong result.

"The market continues to track well and that was evident today with spirited bidding," he said.

"Although it was a semi, it offered house-like proportions and buyers loved the proximity to the shops."

CAME, SAW, BOUGHT IT

A young first homebuyer who fell in love with a beautiful Art Deco apartment in Mosman on auction day went on to buy it.

Nic Yates, of The Agency North, said the St Ives buyer had her dad there for support when she came to look at 4/23 Bapaume Rd.

Apartment living at its best at 4/23 Bapaume Rd, Mosman.
Apartment living at its best at 4/23 Bapaume Rd, Mosman.

"They've been looking casually for a while, but this was obviously the one," Mr Yates said.

Seven of the 14 bidders took part in the spirited auction on Saturday, with the young woman winning the keys on a final bid of $1.64 million. The guide was $1.3 million to $1.4 million.

"They bought it with no fuss, they knew what they wanted," Mr Yates said.

Set in the a boutique block of just six homes, the refurbished apartment combines classic and contemporary details and has views across Middle Harbour.

Originally published as Locals beat foreign buyers to stunning $13m+ home



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