Hammered as Redfern derelict terrace sells for less

Hammered as Redfern derelict terrace sells for less
Hammered as Redfern derelict terrace sells for less

A home that hit the headlines earlier this year when it sold under the hammer but actually didn't sell, has now sold four months on.

The hammer fell on a run down Redfern home when builders Sean Piper and Martin Allen outbid everyone to land the property for $1.36 million at its July auction.

After the price passed $1.35 million, Cooley Auctions auctioneer Jake Moore had indicated the reserve had been reached. It hadn't. He slammed the gavel down and shouted "sold" at $1.36 million.

But then the perplexed listing agent Cheryle Lanthois from Carrington Real Estate belatedly intervened. The house apparently had not been “sold” at all.

Hammered as Redfern derelict terrace sells for less

“I’m sorry, I’ve made a mistake. The written reserve was $1.4 million — I had it as $1.3 million. Come inside and we’ll negotiate with the vendor,” Moore told the top bidders.

“We’re not negotiating — that’s it,” Piper said, the Sunday Telegraph noted.

Mr Moore: “I sold it under the written reserve — it’s my fault. It’s not the owner’s fault, it’s not Cheryl’s fault, it’s my fault.”

Lanthois confirmed that the vendor wasn’t selling at $1.36 million, but holding out for $1.4 million.

Discussions went on after the Boronia Street auction, with the eventual line from Carrington Real Estate agent Cheryle Lanthois saying the property had passed in because the reserve hadn't been met.

Piper and Allen understandably weren't best pleased and didn't want to go as far as the $1.4 million reserve.

After all the toing and froing, the home went on to sell late last month through different against BresicWhitney for $1.34 million, marginally less that the price the hammer fell at.

The Boronia Street home was a run-down three-bedroom terrace with peeling paint, squeaky floorboards, mouldy walls and outdoor dunny. 




Reserve Price Redfern


Be the first one to comment on this article
What would you like to say about this project?