Cliff Towers, Point Piper apartment fetches $13,025,000 when offered for the first time in seven decades

Cliff Towers, Point Piper apartment fetches $13,025,000 when offered for the first time in seven decades
Staff ReporterDecember 7, 2020

A Point Piper apartment sold for $13,025,000 when offered for the first time in seven decades.

The three-bedroom Wolseley Road apartment sits in the triplex, Cliff Towers.

Its reserve was $9.9 million.

The apartment had been the residence of Susan Rankine, formerly known as Lady Street.

The sale ended over seven decades of family ownership.

Since the 1950s, the lower half of the Cliff Towers building on Wolseley Road had belonged to Susan's mother Ruth, who was married to the ship owner, pastoralist and arts patron Ernest Watt.

The block was strata titled in 1976.

The now whole floor apartment and has three bedrooms, each with an ensuite. 

The apartment has 288 sqm intenrtal space and there's a 190 sqm north facing terracing.

Sydney was host to 754 auctions this week, up from both last week when 430 auctions were held, and this time last year when 733 homes were taken to auction. 

Of the 587 auction results collected so far, 73.1 per cent were successful, similar to last week’s preliminary result of 73.2 per cent which revised down to 65.8 per cent at final results. This time last year, Sydney recorded a final auction clearance rate of 76.9 per cent.

Last week, the combined national capital city preliminary auction clearance rate increased across a higher volume of auctions, according to CoreLogic.

There were 1,090 homes taken to auction over the week, up from 648 over the previous week although significantly lower than this time last year (2,022).

Of the 822 results collected so far, 71.5 per cent were successful, up from last week’s preliminary figure of 69.3 per cent which later revised down to 64.4 per cent at final collection. Over the same week last year, a final clearance rate of 73.5 per cent was reported across the combined capitals.

Auction activity remains low across Melbourne this week with 60 homes taken to auction. Of the 52 results collected so far, 59.6 per cent were successful while just under one third of reported auctions were withdrawn. Over the previous week, 55 auctions were held across the city, while this time last year, 974 Melbourne homes were taken to auction.

In regional Victoria Ray White Warrnambool agent Jason Thwaites sold 11 MacLand Drive, Warrnambool for $429,000.

It was a three bedroom single storey brick house. 

“This result is the perfect example of why auction is the best way to see your property. We only had two registered bidders, but they both battled it out strongly, and the property ended up selling $29,000 over the reserve price,” Mr Thwaites said.

“We had 14 private inspections during the four-week campaign with interest coming from both owner-occupiers and investors - with an investor buying on the day. 

“The regional market is really good across all the regional centres and we’re seeing a lot of interest.

"Not just from metropolitan Melbourne, but across the whole state,” he said.

Across the smaller markets, Canberra recorded the highest preliminary clearance rate of 79.5 per cent, across 78 auction results, followed by Adelaide with a preliminary clearance rate of 70.7 per cent across 41 results.

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