Potts Point's priciest parking spot set for auction

Potts Point's priciest parking spot set for auction
Potts Point's priciest parking spot set for auction

The priciest residential car parking space in Potts Point is again up for auction next month.

It is the parking spot in the 1960s-built Macleay Street block The Chimes which fetched $264,000 under the hammer in 2015.

The space, larger than normal at 26 square metres but only enough to fit one car, was secured by erection dysfunction medico Joseph Pollak.

The underbidder was Waterloo property developer Phillip Bartlett, who subsequently secured it as an $80 a week rental as he lives in the neighbourhood.

The car parking space has been at the forefront of strata committee deliberations.

A problem regarding it arose because comfortable access to the space requires passage over the neighbouring common property.

The strata dispute escalated when the body corporate installed a chain along the boundary which Dr Pollak argued needed loosening.

The matter went to the NSW Court of Appeal.

Richardson & Wrench agent Geoff Cox has scheduled a September 5 auction.

After the last sale, its selling agent Greg McKinley said it was something of a one-off.

The price easily exceeded his guidance given the egos involved.

There were still five of the 10 local buyers in the contest as bidding approached $200,000.

Prices have since gone as high as $295,000 in Elizabeth Bay.

This article was first published in the Sunday Telegraph.

 

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

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Auctions Sydney

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