A buyer has forked out more than $7 million for much-loved Chiswick house in "disrepair" on the water.
The transaction was bittersweet for the owner's children – their father had built the house, above the rocks beside the Parramatta River, and it was sold as a deceased estate.
The 898 square-metre-block at 16A Chiswick Street met the river and sold under the hammer on October 28 for $7.21 million, according to Ray White's weekly auction report.
A crowd of 70 gathered to watch auctioneer Alex Pattaro of Ray White drop the hammer.
Lead agent Mario Carbone from Ray White Drummoyne did the deal.
"The property was a deceased estate and had been in the same family for more than 60 years but had fallen into disrepair," Carbone said in the agency's weekend results wrap.
"The family is very happy but of course it's a bittersweet sale as their father had built the house, and it was their family home," Mr Carbone said.
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The 1950's house had "solid bones", the listing explained. With 898 square metres to play with, and the bonus of being a flat parcel by lapping water in Australia's most expensive capital city, the site will be developed by the new owner.
The lower level of the house – on a battle-axe block – is self contained, with five bedrooms throughout.
It was promoted for its scope as the site of a dream build but held memories for the owner's family.
Schools, parks and the ferry wharf are walking distance from the front door.
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There is no Domain median house price available for Chiswick due to a low volume of sales.
The suburb is in Sydney's inner west, about 9km from the heart of the city.
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