No expense spared reaps its reward

6 Myee Avenue, Strathfield, sold for $2,760,000 – $260,000 over reserve. Photo: Supplied 19 Orchard Road, Chatswood sold for $2,222,000. The reserve was $1,750,000. Photo: Supplied

21 The Boulevard, Sans Souci sold for $3,430,000. Photo: Supplied

20 Gregory Street, South Coogee sold for the first time in 58 years for $2,150,000. Photo: Supplied

It was certainly a May Super Saturday for the vendors of 6 Myee Avenue, Strathfield, selling their European-inspired masterpiece for $2,760,000 – $260,000 over reserve.

As the autumn auction season closed on Saturday, it was the second-busiest auction day of the year with 900 Sydney homes listed to go under the hammer. With 568 of the results in by Saturday evening, the Fairfax-owned Australian Property Monitors reported the clearance rate was 78.9 per cent. The highest price paid was $3.85 million for a home at 35 Bonnefin Road, Hunters Hill through BresicWhitney Hunters Hill office. The biggest price paid for an apartment was $2.95 million for an apartment at 5/45 Wolseley Road, Point Piper through Century 21 Coyle & Everett. 

Back to the Myee Avenue, Strathfield auction, in 2011, owner-builders Richard and Rachelle Nader purchased a small red-brick house on the 765-square-metre site for $1.3 million. In the past 12 months, they have demolished it and rebuilt an architecturally designed five-bedroom mansion.

Leaving no expense spared, everything was designer to the point that all their luxurious finishes were handcrafted and flown in from around the globe. Even the toilet has a chandelier.

The grand residence has four bathrooms, marble floors, a French-inspired kitchen, three-metre-high ceilings, a grand staircase, an in-ground pool and a detached summer house with a built-in barbecue kitchen.

The couple said they were a little unsure of how things would turn out on the day but were happy with the result.

”It’s been a really quick turnaround in building this house; we’ve loved living here, it’s a great family home to entertain in,” Mrs Nader said.

”We don’t have far to move. We have another, more luxurious project we are working on right across the road, which we plan to sell in a year’s time.

”After that, we have our biggest project yet, a 1200-square-metre, heritage-listed home around the corner.”

In front of the crowd of 150 with 12 registered bidders, all local professionals, Ricky Briggs from Cooley Auctions took an opening offer of $2.2 million. After a 20-minute intense bidding war between four parties, it was sold.

Strathfield Partners agent Norman So said he knew it would get a fantastic result because he had 120 groups inspect and issued 20 contracts.

”We have a great stock shortage in Strathfield and a high level of demand. That’s why the prices are still high,” Mr So said.

”I expected the property market to plateau out but this has been a great testing ground showing that Strathfield is still strong and prices are still increasing.”

In north Sydney, the 892-square-metre Federation home at 19 Orchard Road, Chatswood sold for $2,222,000. The reserve was $1,750,000. There were 190 group inspections, 35 contracts issued and 15 registrations. The owner of the four-bedroom home sold a similar property two doors up at number 17 earlier in the day for $2,220,000.

In the south, a five-bedroom mansion with indoor-outdoor pool at 21 The Boulevarde, Sans Souci sold for $3,430,000. The house on 993 square metres of land smashed the St George non-waterfront record by $300,000. There were six registrations.

In the east, 20 Gregory Street, South Coogee was sold for the first time in 58 years for $2,150,000. There were five registrations. The house sits on a 746-square-metre block with sweeping ocean views with scope to rebuild.

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