Two teenage boys at home playing video games had no idea their mum was at the auction of a waterfront apartment in Sydney’s inner west.
Meanwhile mum Elizabeth, who chose not to disclose her surname, was busy outbidding 10 other buyers to purchase a rare waterfront apartment in Drummoyne on Saturday morning.
“I am going to go home and surprise my boys, they are on the Xbox,” she said.
The apartment, at 4/12 Wolseley St, went under the hammer for $2.18million, with five out of the 10 registered bidders active during a competitive auction.
The three-bedroom waterfront apartment was on the market for the first time in more than 50 years.
MORE
‘Christmas house’ goes up for auction
Lion producer sells in Manly for mega price
The original owner bought the apartment in the 1970s when the building was constructed.
She moved out at the age of 95 and has since passed away, with her children emotional, yet happy with the result after the auction.
Ray White NSW chief auctioneer Alex Pattaro led the auction, describing the opportunity as “exceptional”, with the apartment in a highly sought-after area close to schools, cafes and restaurants.
The auction took place in the building’s communal pool/entertaining area right on the waterfront, with Mr Pattaro reminding buyers of a view that can “never be built out”.
Bidding opened at $1.6 million and rose quickly to $2.15 million, moving along with increments of $100,000 and $50,000.
MORE
What scares Aussie renters the most
Buy a waterfront home for the cost of a family car
The last bid of $20,000 saw Elizabeth, who had a friend bidding on her behalf, secure a new home.
When asked what drew her to this apartment, she was quick to look back at the pool area right on the Parramatta River – another surprise for her teenage sons.
“It’s fantastic and in such a great location,” she said.
Elizabeth said she and her sons would move into the apartment and do some upgrades, including a new bathroom.
Ray White Drummoyne agents Mario Carbone and Jessica Carbone said there had been huge interest in the apartment.
“We had 160 groups through and issued 30 contracts,” Ms Carbone said.
She said the sale price was $280,000 above reserve.
As the weather heats up, so does the auction activity with bidder numbers rising each week and buyer confidence continuing after the third consecutive interest rate pause.
This auction was one of 794 scheduled across Sydney this week.
Originally published as Sydney mum buys waterfront apartment in Drummoyne $280K over reserve
Read related topics:SydneyncG1vNJzZmivp6x7r7HWrGWcp51jrrZ7xaKlmqaTmnyzscClZJ6rpJbBpnvSspunnaliura5jJussqtdrK61sdGfqaimpGKusa3RraSepqRitq95w6uspqWfrrumeZFxZ6Rln6uys3nRnqqeqqaafK%2Bx1qxkrKyfp8ZwsJdyanCbYpqypH%2BRa21pcZOWsnauw3CYbplkmbGksMU%3D