Lucky 88 bidder fails to secure Water Corp's $4.95 million Lilyfield site

Online bidder 88 missed out when the Sydney Water Corporation sold its redundant Lilyfield site to bidder 66 in a bid-packed online auction. 

The site at Lot 2, 35 Edna Street, Lilyfield was offered by online by the auction works website for Pilcher Residential.

The reserve price was met after just the second bid.

The bidding opened at $2.85 million. There were six bidders as the auction ended at 3pm today.

Property Observer understands a Chinese developer paid the $4.95 with the auction underbidder a Chinese developer too.

 

 

It was offered as an "outstanding residential development site," a 500 metre walk to Light Rail & City West Link.

 

The prime development site occupies a 1224sqm parcel of land in a blue chip precinct of a popular inner west suburb featuring three street frontages. 

 

Bid History

 

Bidder	Amount
66	$ 4,950,000 Mon, 01/06/2015 02:52 PM
88	$ 4,850,000 Mon, 01/06/2015 02:51 PM
66	$ 4,800,000 Mon, 01/06/2015 02:50 PM
13	$ 4,000,000 Mon, 01/06/2015 02:31 PM
66	$ 3,950,000 Mon, 01/06/2015 02:30 PM
13	$ 3,900,000 Mon, 01/06/2015 02:30 PM
66	$ 3,850,000 Mon, 01/06/2015 02:30 PM
13	$ 3,800,000 Mon, 01/06/2015 11:07 AM
50	$ 3,750,000 Mon, 01/06/2015 11:00 AM
88	$ 3,700,000 Mon, 01/06/2015 10:45 AM
13	$ 3,650,000 Sun, 31/05/2015 07:58 PM
8	$ 3,600,000 Sun, 31/05/2015 06:43 PM
13	$ 3,550,000 Sun, 31/05/2015 05:27 PM
6	$ 3,500,000 Sun, 31/05/2015 04:39 PM
13	$ 3,200,000 Sun, 31/05/2015 04:19 PM
6	$ 3,150,000 Sun, 31/05/2015 03:22 PM
13	$ 3,100,000 Sun, 31/05/2015 02:43 PM
8	$ 3,050,000 Sun, 31/05/2015 02:32 PM
13	$ 3,000,000 Sun, 31/05/2015 01:10 PM
8	$ 2,950,000 Sun, 31/05/2015 01:05 PM
13	Reserve Met $ 2,900,000 Sun, 31/05/2015 01:01 PM
66	$ 2,850,000 Sun, 31/05/2015 11:04 AM
	Starting Bid $ 2,850,000

It was in 2008 when Sydney Water Corporation sought a site compatibility certificate for surplus lands at 35 Edna Street, Lilyfield to take on uses permissible within the surrounding residential zone.

The Heritage Branch of the NSW Department of Planning granted its consent for the proposal, considered acceptable with regards to its impact on the State Heritage Listed aqueduct.