A delightful family estate in Sydney’s inner-west sold for $5,815,000 under the hammer in the highest sale price for a NSW auction over the weekend.
The vast seven-bedroom property, at 32-34 Albyn Road, was at the centre of a hotly contested auction which saw all seven registered bidders go head to head to get the keys to this Strathfield stunner.
Simon Furnari, of Belle Property, helped sell the property in conjunction with Citywide Commercial, and he said: “The bidding started at the price guide which was $5 million before rising in increments of $100,000 up to the $5.7 million mark.
“It was then a battle between one local family and an out of area family, who were eventually successful, up until the final sale price of $5.815 million,” he said.
The impressive sale left the vendors ecstatic after concerns over the nature of the property would attract a shortage of interest, but that certainly wasn’t the case as around 150 spectators were there to witness the action unfold.
“The vendors are very happy, they had concerns that, being a heritage property, there would be a lack of buyers,” said Mr Furnari.
“But given its size, location and how well it has been kept during their ownership meant that it was a heritage property that was ready to move straight into.”
The successful buyer was returning to Strathfield having lived there previously, with this particular auction the most recent in a string of large sales as a lack of stock is keeping price points high.
“The buyer from out of town had moved from Strathfield some years ago and was looking to get back into the area to be around family,” said Mr Furnari.
“The market has been great, although everyone was expecting a lot of stock to come onto the market in Spring, we have seen a limited supply for the Strathfield area and the majority of the inner west, therefore the larger blocks are performing really well,” he said.
32-34 Albyn Road, Strathfield, NSW 2135