SYDNEY’s eastern suburbs beach houses are flying out the door, with a Walter Barda-designed Tamarama home selling for more than $10.5 million in just five days.
Phillips Pantzer Donnelley’s Alexander Phillips only listed the five-bedroom, four-bathroom Tamarama Pavillion House at 10 Thompson St last Thursday — by late Monday afternoon it had gone.
“There’s a lot of people looking at that level because there’s not enough good quality stock around,” Mr Phillips said.
The home had northerly 180-degree views taking in Tamarama Beach and Mackenzies Bay. The renovation, completed three years ago, was in the “relaxed sense of luxury of classic Hamptons style”.
Mr Phillips wasn’t able to reveal the sale price due to a confidentiality agreement, though he’d been quoting a guide of $10.5 million and $11.5 million. Given the speed of the deal, it’s likely the sale price was in the upper end of range.
Property records show the home is owned by the Bronte Surf Life Saving Club president, Basil Scaffidi, who paid $3,625,000 in 2005.
“We’ve sold so many houses lately in that $4 million to $7 million range,” Mr Phillips said.
Mr Phillips said getting the price guide right at the start was key.
“Some homes are sitting on the market for 120-days plus, because people are unrealistic with their expectations, or the house isn’t good enough for the market,” he said.
The gun agent also sold the home of Westpac executive director Connell Burke and his wife, interior designer Helene, at 144A Hewlett St, Bronte in four days.
Designed by architect Michael Folk, the four-bedroom home with unobstructed beach views had been scheduled for October 14 auction but the Burkes got the deal done at $6.43 million.
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