Waterfront Kirribilli apartment sells at auction for $1.875m

THE new owners of a one-bedroom apartment in Kirribilli will have front row seats to the New Year’s Eve fireworks this year, having paid $1.875 million at auction.

There were eight registered bidders vying to get their hands on the unit at 2/11 Waruda St, which has panoramic views of the Harbour Bridge and Opera House.

Four actively competed for the unit, which sold $125,000 above reserve.

The deceased estate hadn’t been offered to the market for 60 years, so buyers were keen not to miss out.

Bidding progressed quickly from the starting point of $1.5 million, increasing in $100,000 and $25,000 bids.

● HOME SELLS $200K ABOVE RESERVE AT ‘PERFECT AUCTION’

● ATTIC CONVERSIONS ALL THE RAGE

McGrath Neutral Bay agent Nigel Mukhi said it was an investor from Paddington who won on the day.

“Good properties are still selling very well and always will,” he said.

In Cammeray there was a showdown between two buyers for a duplex, which sold for $2.65 million.

There were a number of registered bidders but it was two gentlemen who fought it out, as the property at 1-2/41 Cammeray Rd sold $250,000 above reserve.

Offered for the first time in 30 years, it is currently set up as two three-bedroom duplexes.

Judy Savage of Charles and Stuart Real Estate Double Bay was the selling agent.

There was another strong auction over in Lane Cove North, where it was an upsizing couple who snapped up a five-bedroom house for $2.785 million.

Peter Gordon of Cobden and Hayson had five register for the 9.45am auction of 38 Parklands Ave, with three getting involved in the action.

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