Land prices find their footing on Mona Vale beachfront
A not-quite-knockdown five-bedroom Mona Vale beachfront house has been sold for $3.28 million.
The sale of the 808-square-metre Surfview Road holding was at Raine & Horne auction where it was announced on the market at $3,225,000. Its selling agents Glenn Lee and Rebecca Lee noted that, with six registered bidders, the vendor had met the market.
It is understood to have been sold to a family who will use the property as a holiday home.
There had been $5 million hopes for it went to initial auction in October 2010 by H. Lindsay Thompson, a retired professor who was president of the AMA from 1982 to 1985, who bought the beachfront three decades ago.
Just a few doors along, the resort-like Mona Vale beachfront residence of the veteran property developer Max Delmege and his wife, Narelle, sold earlier this month for a reputed $3.5 million. Peninsula rumours suggest it may have been a tad less, but there’s no confirmation from the selling agents.
It was on its third mortgagee auction marketing campaign.
The house had been listed with $7 million-plus hopes on the same weekend in October 2010.
The two-level house sit on an 870-square-metre block which is surrounded by two apartment blocks.
Delmege, who bought the holding for $750,000 in 1994, rebuilt the house in 2009, after which he noted it secured a $9 million valuation.
Delmege's holding is surrounded by two apartment blocks, unlike the Thompson property, which has three delightful tall pines overlooking its grounds.
The Thompson listing reflected $4,059 per square metre, compared with the Delmege sale at $4,022 per square metre.
There are no available guides to the Delmege construction costs, but estimates were around $1.4 million.
The Thompson listing represented a 34% discount on initial hopes in October last year.
The Delmege listing represented a 50% discount on initial hopes and a 60% discount on 2009 valuation.
