Publican buys dress circle Point Piper apartment from publican

The three-bedroom apartment at 9/45 Wolseley Road, Point Piper sold at weekend auction for $4.1 million.

With 202 square metre internal space, it was sold to a publican by Stephen McMorrow of McGrath Edgecliff.

The unit, with 14 square front balcony, sold for $1 million over reserve, the level set after one sold for $2.95 million last year. It, set four floors below, was snapped up pre-auction.

There had been a 2010 sale of 7/45 at $3.75 million for a renovated apartment. The block's two storey renovated penthouse secured a $4.5 million sale in 2013.

There was an unusually high 10 registered bidders at the dress circle offering. 

The whole-floor apartment last traded in 1968, reportedly bought off the plan for $93,750 by Veronica and Arthur Laundy snr, the founder of the Laundy Hotel Group. 

It was bought by Arthur Laundy jnr's nephew, Peter De Angelis.