Potts Point carspace sells at $222,000
A Potts Point car parking space fetched $222,000 at weekend auction, which the Di Jones sales agent declared “top dollar”.
Bidding opened at $120,000 for the 15.8 square metre space in The Chimes apartment block at 101/45-53 Macleay Street.
It last sold at $35,000 in 1990, reflecting seven percent annual growth.
The sale to a local resident from further down the street through Di Jones agent Jeremy Brink equated to $14,000 per square metre.
It was up on the most recent Laing Real Estate sale of a 16sqm block in February around the corner on Challis Avenue which at $190,000 equated to $12,666 per square metre.
“The shifting market isn’t having an impact on car space prices,” Di Jones agent Jeremy Brink told The Sunday Telegraph.
There were three of the five registered parties who bid.
The successful bidder had lived in Potts Point for 20 years and intended the car spot for his personal use.
There’d been a $264,000 sale of a car space in the same block in May last year, through Greg McKinley of Richardson & Wrench Potts Point, but that had been bigger at 26 square metres.
It could still only fit one car.
The sale reflected around $10,000 a square metre for the longer then normal 26 square metre space, but single car space.
The 10-storey, 80 unit Chimes strata block was registered in 1964 when the standard EJ Holden cost the equivalent of $2102.