A landmark property in Sydney’s eastern suburbs has been snapped up at auction for $8.5 million after a frantic auction saw the sale price rapidly rise.
Built in 1890, the elegant three level home in Elizabeth Bay, was purchased over the weekend after receiving strong interest from local buyers throughout a hugely successful auction campaign.
Also known as Keadue, the six-bedroom property was designed by internationally renowned architect John Bede Barlow who passed away in 1925 and is a slice of Sydney real estate history.
Ray White pair Phillip Elmowy and Anthony Vella managed the marketing campaign of the stunning mansion at 84 Elizabeth Bay Road.
“We had more than 125 inspections of this historic property and that resulted in all five of the registered bidders on the day raising their paddle,” Phillip says.
“Bidding started at circa $5 million and the bidding was strong. There was a lot of local interest because there are not many free-standing homes in the area and they understood the values,” he explains.
The 512 sqm Queen Anne Revival style residence features grand proportions, with every inch of the property’s space carefully thought out and maintained meticulously.
With the ever-increasing demand for luxury properties in world class locations, it is no wonder that there was a queue of buyers waiting to pounce on this historic Elizabeth Bay home.
“The market is strong and the market for high-end properties is more popular than ever,” Phillip says.
Keadue is positioned in a quiet, leafy neighbourhood nearby excellent cafes and eateries whilst maintaining proximity to Sydney’s CBD and world-famous landmarks.
84 Elizabeth Bay Road, Elizabeth Bay, NSW 2011
Phillip Elmowy – 0425285444
Anthony Vella – 0412 232 904
Ray White – Maroubra/South Coogee