Two empty blocks in Northbridge on Sydney’s harbour sell for a combined $14.75million
Two empty blocks in Northbridge on Sydney Harbor are sold for a combined $14.75 million
Two of Sydney’s ‘best’ vacant lots with stunning harbor views have been sold for a total of $14.75 million.
The two vacant lots are adjacent to each other at 8 Byora Crescent and 8 Minnamurra Road in Northbridge, on the city’s lower north shore, and went under the hammer on Saturday morning.
Both blocks have panoramic views of Sailors Bay, Middle Harbor and The Spit, and have DA approval to be built into spectacular five bedroom homes.
The two auctions attracted 10 registered bidders, each with multiple potential buyers trying their luck on both blocks.
The 697-square-foot building on Byora Cres sold for more than $1 million over reserve, for an astonishing $7.05 million.
Two blocks overlooking the harbor (above) in Northbridge, Sydney sold for an astonishing $14.75 million on Saturday
The blocks (above) have been pre-approved for development and offer views of Sailors Bay, Middle Harbor and The Spit
Meanwhile, the 773-square-foot Minnamurra Rd block at the front sold for $700,000 over the $7.7 million reserve.
Auctioneer Damien Cooley of Cooley Auction said the first bidding war had to be interrupted midway through as buyers became nervous.
“We first auctioned eight Minnamurras and when we reached $5.75 million, no one bid anymore. We suspended bidding and then auctioned Byora Cres,” he said Vastgoed.com.au.
“We then reopened the bidding for Minnamurra and it sold. When it comes to adjoining vacant lots, buyers often get nervous about what one is going to sell for compared to the other.”
He said the initial sale gave bidders the “confidence” they needed to continue competing for the Minnamurra plot.
There used to be a large house from the 1940s on the site that stood on the shared plot of land of 1470 m2.
It last sold in 2021 for $9.2 million before being distributed.
The 697 m2 block at Byora Cres was sold for over $1 million above the expected price of $7.05 million (photo, impression of a future house at Byora Cres 8)
The 773 sqm Minnamurra Rd block was sold for $700,000 over the reserve for $7.7 million (photo, impression of a future home at 8 Minnamurra Rd)