Taylor Troeth, Property Journalist
Updated 28 Oct 2023, 4:51pm
First published 28 Oct 2023, 4:38pm
A hot auction at 8 The Chase Rd, Turramurra where the home sold for $5.525m.
A popular Upper North Shore home has sold under the hammer to a young local family for a whopping $1.325m over reserve.
In a hotly contested auction, owners of the Turramurra home, Alison and George Reid, were ecstatic with the result, and said it more than exceeded their expectations.
“We are really excited, we are looking for another adventure,”
The property sold for $5.525m, with a guide of $3.9m.
The home at 8 The Chase Road, Turramurra.
MORE: Home sells $7m above price guide
Unsure of where they would move next, Ms Reid said they were looking for a sea change and to downsize in their retirement.
She liked the idea of moving to the inner west to enjoy walking to local eateries or the Northern beaches to enjoy the beach lifestyle and ferry rides.
“We could go anywhere, but we are absolutely amazed with the price so we’ve got a big adventure ahead of us,” she said.
The huge crowd gathered in the backyard of the home for the auction. Picture: David Swift
Ms Reid said it was her “happy place” that a family with two young children would now get to enjoy the home that they had loved for the last 15 years.
The Reid family had renovated the four bedroom Californian bungalow.
Previously on a sloping block, they had terraced the yard, put in a pool and added a new family room, fresh kitchen and extra bedroom.
MORE: Troubled OnlyFans star’s $12m family mansion for sale
Lead agent Bronwen Lipscombe from McGrath Wahroonga said it was a very popular property, but was still surprised at the price the hammer dropped at.
“It certainly well exceeded our expectations, the vendors expectations and what my secret goal was,”
The Reid family renovated the previously sloping backyard.
A recent addition to the home, the light filled family room.
Ms Lipscombe said she had interest from people that would move in to the home as is, those that would build a second story or buyers interested purely for the land.
There were 8 registered bidders and four of them were active.
Auctioneer Troy Malcolm from McGrath said it was a phenomenal result.
Auctioneer Troy Malcolm calls the bids at 8 The Chase Rd. Picture: David Swift
Bidding started at $4m, which Mr Malcolm said was well in-line with recent properties that had sold in the area, but for this “beautiful home”, the bidding was strong straight away.
“It was really a battle of two parties that wanted it desperately for their families,” he said.
Towards the end of the auction, the increments came tighter, Mr Malcolm said he had noticed buyers were more strategic in the current market.
The renovated modern kitchen.
“The buyers should be confident they got such competitive bidding which means when it comes to sell in two, three, four decades time, there will be as much competition again,”
MORE: Media baron and Underbelly producer selling mansion
How migrant used $920pw to get 8 homes worth $10m
Buying
Featured
Selling
Disclaimer: The information published in this section is of a general nature only and does not consider your personal objectives, financial situation or particular needs. Where indicated, third parties have written and supplied the content and we are not responsible for it. We make no warranty as to the accuracy, completeness or reliability of the information, nor do we accept any liability or responsibility arising in any way from omissions or errors contained in the content. We do not recommend sponsored lenders or loan products and we cannot introduce you to sponsored lenders. We strongly recommend that you obtain independent advice before you act on the content.
Personalised advertising: We show you more relevant advertising based on your activity. Prefer us not to? Opt Out of personalisation
realestate.com.au is owned and operated by ASX-listed REA Group Ltd (REA:ASX) © REA Group Ltd.
02 8005 6525
info@aktengineering.com.au
Recent Comments