With a bid just above the million-dollar mark Iain Thomson and his wife Miriam Wride secured themselves a two-bedroom top-floor apartment in the lower north shore suburb of Naremburn.
“The bidding went a bit higher than I expected,” said Thomson after the auction on Saturday morning for the property in Willoughby Road.
There were too many winning features of the well-maintained apartment, built in the 1980s, for the couple to miss out on it.
There was a clear outlook across rooftops and greenery to Northbridge, a complex that boasted a tennis court, pool, spacious gardens and barbecue facilities.
But the greatest lure was the apartment’s location for the couple who were downsizing from a three-bedroom apartment in Sylvania.
“We’ve already downsized once and now we are doing it again,” Thomson said.
“We’re moving here to be closer to the grandchildren.”
Five bidders took part in the auction, among them investors, young couples and downsizers.
Bidding started at $900,000, quickly jumped to $950,000 and then made a slow journey between two rival bidding parties until the result of $1,001,000 was achieved.
Listing agent Danny Grant of Ray White Lower North Shore said there had been strong interest in the property in a tightly held area, with bidders on the day a mix of downsizers and young couples.
“People love the easy access to the city and the fact that you can walk anywhere from here,” Grant said.
Naremburn sits next door to Crows Nest and its lively shopping strip and the apartment is within walking distance of St Leonards train station, offering quick access to the city.
The suburb also sits in the catchment area for the recently completed Anzac Park Primary school.
Grant said the school had attracted young families to the area, and today they also were looking at apartments along with free-standing homes in the suburb.
The successful bidders said they had looked at apartments in newer buildings in Crows Nest, but none of them had the open outlook the Naremburn apartment offered.
The two-bedroom, two-bathroom apartment also featured quality inclusions such as parquetry floors, bespoke timber panelling, a separate dining room and kitchen with top-line Bosch cooking facilities.
The Sydney median apartment price is $669,830 according to Domain Group figures.
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