Epping house smashes its reserve

Posted by on November 11, 2015 in Market Reports | 0 comments

Epping house smashes its reserve
22 Fernhill Ave Epping

The house on 22 Fernhill Ave, Epping occupies a land block of 854sq m.

The land at 22 Fernhill Ave, Epping, cannot be subdivided and a duplex cannot be built on the site but that did not stop three eager bidders from pushing the sale price up to $2.116 million.

Sales agent Tracy Yap from Tracy Yap Realty Epping said location and “a good block of land” led to the impressive sale of the modest, post-war brick home on a level 854sq m.

The three-bedroom property is 1.1km from Epping railway station and a 700m walk from Epping Heights Public School.

“At the end of the day we had three very good buyers, and two out of the three wanted to knock down and rebuild,” Ms Yap said.

She said the sale price was well above the reserve. The new owners are from Eastwood.

They hope to eventually knock down and rebuild but, for the time being, the property would be rented, Ms Yap said.

SOLD AFTER AUCTION

A PROPERTY at 37 Cheltenham Rd, Cheltenham, has sold post auction for $2.93 million.

37 Cheltenham Rd, Cheltenham has sold for 2.93m, Sydney property

37 Cheltenham Rd, Cheltenham has sold for $2.93 million.

“We had the auction and the property sold an hour later,” sales agent David Meldrum from Belle Property Beecroft said.

The new owners are a young family from Eastwood.

“They are upgrading to one of the very few large landholdings in Cheltenham,” Mr Meldrum said.

The 1913 Federation home that has been in the same family for 47 years is on a 2100sq m block.

“It is very much what it is: a Federation bungalow, with one bathroom, ideally suited to a major addition,” Mr Meldrum said.

WATERFRONT WISHLIST

AN absolute waterfront property at 127 Tennyson Rd, Tennyson Point, has sold for $4.51 million after 67 days on the market.

127 Tennyson Rd, Tennyson Point

The buyers of 127 Tennyson Rd, Tennyson Point have fulfilled their wish of buying a waterfront property.

Sales agent John Paranchi from McGrath Hunters Hill said the renovated four-bedroom home with a view of Morrison Bay was passed in at a September 19 auction after a bid of $4.26 million.

The new owners are a family from Epping who were at the auction but not in a position to bid.

“It was always on their wishlist to have a waterfront property,” Mr Paranchi said. “Now they have finally got there.”

Published: November 11, 2015

By: Shayne Collier

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