$9 million vendor bid for Wellings, Burwood stuns auction crowd

$9 million vendor bid for Wellings, Burwood stuns auction crowd
Jonathan ChancellorDecember 7, 2020

Wellings, one of the oldest estates in Sydney's inner west, was passed in on a $9 million vendor bid at auction today.

The eight-bedroom estate had been listed by Janeta Biviano of Ray White Burwood, with a reported well inexcess of $6 million initial price guidance.

Gasps came from the 300 strong crowd who attended the onsite auction after the $9 million vendor bid.

There had been claps at the opening - and only - $6 million bid which was followed by a 12 minute period when the agent unsuccessfully sought higher offers from another two parties.

It was among the 435 weekend auctions with agents reporting an initial clearance rate of 82%, against a revised 75% in the prior weekend. 

Wellings had been listed for Ray White auction by artisans Frank and Marcellina Civardi, of Civardi Furniture.

They had secured the 3,679 square-metre Burwood estate in 1990 for $900,000 when it was unliveable.

Heritage architect Lester Tropman helped restore the gothic-style villa which dates back to 1813.

It was first officially recorded in the 1830s as owned by London shipowner William Richards and extended over the year starting from 1860.

The Burwood median house price sits at a record $1.42 million, according to RP Data. The suburb record sits at around $4.1 million.

Wellings is located at 4 Woodside Avenue East on 3,679 square metres, with not only the main residence but also The Gatehouse.

The three-bedroom gatehouse is one of the first pre-fabricated homes in Australia.

The gatehouse was made in Hamburg, then exhibited in Paris in 1854 before it was imported for the French Consul General's residence in Hunters Hill, Passy.

It was moved to Wellings in 1967 by former owner Dr Lindsay Grant and his wife, Adeline (nee Agnew).

"It's been finished to the eleventh degree," the auction suggested.

The estate featured in the 2005 movie, Son of Mask.

On its listing Mrs Biviano advised the market "will play a significant role in determining the value of the property."

“There aren’t any comparable properties in the area - Wellings is truly the only estate of its kind,” she said.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

Editor's Picks