An opulent, three-storey, six-bedroom home in Strathfield broke the suburb record on Saturday, selling for a whopping $2.25 million above its $10 million dollar reserve for $12.25 million.
Nine registered to bid on the home at 7 Newtown Road , which was guided at $9 million. Five bid on the property, which featured a north-facing tennis court, home theatre, eight-car basement, gym, infinity pool and wine cellar. Buyers were a mix of doctors, professionals and entrepreneurs.
Bidding opened at $8.5 million, and buyers used large increments until the price reached $12 million; then, $25,000 bids went all the way to the final sale price when it sold under the hammer to a buyer from a few streets away. The Agency’s Greg Emerton said the north-facing tennis court was a big attraction, as two in the buyer’s family played the sport.
The auction drew a big crowd; Emerton said about 400 people filled the street. “It seems evident from at least today’s auction that the top end of the market in the suburb of Strathfield is buoyant,” Emerton said. The previous suburb record was $12.
1 million. Credit: The Agency “The property’s got features that they can’t just go down the road [and] get anywhere else, they’re going to pay good money for it,” he added. The vendors planned on downsizing locally.
Records show that the address last traded for $2 million in 2003, although the home was rebuilt from the ground up 12 years ago. Pricefinder records indicate that the next highes.