Record Walker Corp Regency Apartment, Chatswood sale tops weekend sales

The modern security apartment was located on the 18th floor of the Regency Apartment complex

Record Walker Corp Regency Apartment, Chatswood sale tops weekend sales
The Chatswood apartment. Image: Di Jones

A $2.669 million sale was the nation's highest reported weekend auction result amid 476 apartment offerings.

It was an 18th floor northeast corner apartment with a 131sqm layout.

The listing came with two car spaces and storage in the security complex with a 24-hour concierge.

Its sale price bettered the prior top sale, also on the 18th floor in May, at $2,180,000.

The tightly held apartment was sold by Adam Wong at Di Jones, having last sold off the plan at $660,000 in 1999.

Two-thirds of Walker Corporation's Regency Chatswood had sold in its 1998 marketing when Walker Corp took 175 deposits in the 299-unit Regency Chatswood project.

Walker Corp's $250 million development of the residential Regency Chatswood project was on the site of the former Wallaceway retail block in the heart of the shopping centre. 

The development is to be completed in two stages comprising a 26-storey twin tower site with 534 apartments ranging in price from $185,000 to $1 million. 

At the time there were three other residential projects under construction in Chatswood and seven projects with 1220 dwellings having development approval. 

Some of the bigger residential projects for sale were Meriton's Bentleigh development on Victoria Avenue and The Chelsea on Brown Street.

There were 467 apartments amid the 1,977 homes taken to auction across the combined capital cities last week, revising down from the 2,106 originally expected as a number of vendors reschedule to a later date.

The national apartment clearance rate was 56 percent while the house success rate sat at 65 percent.

Sydney agents advised 158 of 176 apartment results with a strong 82 percent selling.

A Drummoyne apartment at 9/11 Bayswater Street sold for $878,500 at online auction on Saturday, at $118,500 above reserve through Ray White Drummoyne agents Mario and Jessica Carbone. 

There were 10 registered bidders with seven of them active in seeking the two bedroom abode. 

The winning bid was a first home buyer moving from the inner city. 

The vendor had previously lived in the home before moving to Melbourne and turning it into an investment property

Melbourne's auction clearance rate was hit by withdrawals as prospective buyers are unable to physically inspect a property.

CoreLogic calculated a 40 percent success rate after high withdrawals.

Melbourne agents advised 188 results of the 267 offerings.

The dearest result was when $1,629,500 was paid for a four bedroom, four bathroom townhouse at 21a Melva Street, Bentleigh East.

The price guide had been $1.42 million to $1.52 million.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

Chatswood Weekend Auctions


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