Nothing toxic about weekend Erskineville auction result
Staff reporterDecember 7, 2020
An Erskineville apartment that neighbours the Sugarcane project sold at weekend auction for $1.35 million, some $200,000 over reserve price.
The Sugarcane Erskineville apartment development are empty more than one year after its completion because of concerns over potential toxic contamination.
The revelations rocked Sydney’s property market last Friday, and some buyers pulled out because of the news.
But the Erko apartment offering which were developed by different developer and builders, saw competitive bidding.
Nine Entertainment reported the successful buyer was unperturbed by fears of the potential toxic contamination from the adjacent development.
Infact they hoped it would "scare" off other buyers.
Some 13 parties registered to bid on 410/1 Pearl Street.
Last sold for $855,000 in 2013, the two-bedroom apartment was built in 2014 and developed by Leighton Properties.
It was sold by Service First Property Group agent Oliver Quach.