Manly trophy home passed in on $15 million vendor bid amid strenthening weekend auctions

Manly trophy home passed in on $15 million vendor bid amid strenthening weekend auctions
Manly trophy home passed in on $15 million vendor bid amid strenthening weekend auctions

The weekend auction success rate gathered momentum amid the winter seasonal listings slowdown.

With fewer properties offered, Sydney's preliminary clearance rate jumped to 78 percent and Melbourne hit 70 percent.

Auction volumes fell week-on-week across all capital cities, while the preliminary results had clearance rates up in all cities except Perth.

Manly trophy home passed in on  million vendor bid amid strenthening weekend auctions

The weekend's priciest auction offering was a stunning beachside home at Manly, which failed to sell.

Despite the buyer interest, it was passed in on a $15 million vendor bid at Manly, as none of the three registered bidders nor several other contract holders were willing to bid for the Vince Squillace-designed home.

Set on an 822sqm block, the three level home at 38 Bower Street (above and below) has multiple living spaces that spill out on to terraces surrounded by tropical gardens.

A whole-floor home office opens to a rooftop terrace overlooking Shelly Beach and Cabbage Tree Bay.

Manly trophy home passed in on  million vendor bid amid strenthening weekend auctions

The home was auctioned after Michael Clarke and Cherie Humel, in conjunction with Jake Rowe, gave a price guide of $15 million to $16.5 million.

It was listed by outdoor sports advertising boss Ray Balcomb and his wife Julie, who designed the home to emulate a luxury Greek villa.

Last sold for $7.25 million in 2013, the Bower St home was until two years ago their weekender as they lived in Duffys Forest on one of Sydney’s finest equestrian estates. 

The dearest sale across the capital cities was $4,175,000 at Elizabeth Bay through Ray White agent Nick Thompson.

The three bedroom, two bathroom 35/93 Elizabeth Bay Road (below) apartment sits on the top floor of the early 1980s Kincoppal complex.

Manly trophy home passed in on  million vendor bid amid strenthening weekend auctions

It has 274sqm of living space plus a 33 sqm double garage.

It last sold at $925,000 in 1986, and ranked as the seventh apartment within the complex to have fetched $4 million plus in the past seven years.

It sold to an investor with two other apartments in the harbour front complex.

Melbourne's top sale was also a waterfront.

Overlooking boat sheds, the 3/15 Morton Grove, Chelsea beachfront townhouse (below) offering was sold pre-auction at $2 million.

Manly trophy home passed in on  million vendor bid amid strenthening weekend auctions

It had $2.4 million to $2.5 million guidance late last year through Hocking Stuart after its recent completion.

Brisbane's top sale was when a Queensland pastoralist bought at Clayfield for $2.8 million.

The 1929 trophy home, Highgate sold through Ray White having been initially listed with $3.2 million hopes with another agent.

Designed by Richard Gailey, the Spanish mission residence at 117 Adelaide Street E, Clayfield (below) has been tightly held for the past four decades. 

Set on 1,710 sqm, Highgate has six bedrooms, formal and informal dining and lounge rooms, a freestanding office and a billiard room.

Under a terracotta tile roof, Highgate still has a number of original features, including a working fireplace, lead lighting, french doors, hardwood floors, decorative horse-hair plaster ceilings, and hand-cut crystal chandeliers.

In the grounds is a saltwater swimming pool.

Manly trophy home passed in on  million vendor bid amid strenthening weekend auctions

Christine Rudolph and Matt Lancashire of Ray White New Farm had the listing. 

The nation's cheapest sale came in Sydney when a three bedroom Willmot house fetched $232,000.

The fire damaged 6 Balboa Place offering was marketed by Laing & Simmons as having dual occupancy potential given its 626 sqm block.

The first week of July saw the combined capital city clearance rate above 60 per cent for fourth consecutive week, according to CoreLogic which put the national figure at 68 percent.

Auction volumes remain lower year-on-year, with 1,411 auctions held this time last year, compared to 945 capital city auctions this weekend, which included 388 in Melbourne and 552 in Sydney.

There had been a higher 1,295 capital city homes auctioned in the last week of June.

Tags: 
Clearance Rate Weekend Auctions

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