South Coogee trophy 1940s art deco triplex sells for $10.55 million

Sydney had the nation's top auction result on the weekend prior to Christmas when a record $10.55 million was secured for a triplex at South Coogee through Sotheby's International.

Agent Michael Pallier noted there were 13 registered bidders with the buyer being a local family.

The oceanfront art deco 1940s building at 1 Wolseley Rd had last traded in 1989 at $776,000.

It was offered by the family of Selina Corkhill, the head of investment banking at the Sydney branch of the Bank of China, and widow of architect Tony Corkhill.

South Coogee's previous highest sale was in November last year at $9.8 million for a contemporary four level mansion which sold to find manager Duncan Saville. 

There was a recent sale at Coogee at $12.85 million when the venture capitalist, Marc Marano, bought on Gordons Bay, known as Sydney’s Little Amalfi Coast.

Marano left his family’s inner Sydney estate agency Oxford Agency five years ago to join the fitness franchise F45, and moved to the US two years ago to lead its expansion.

The off market sale bettered the Coogee suburb record by $3.85 million, set six years ago at $9 million.