In a remarkable turn of events, a modernist six-bedroom home located at 33 Vaucluse Road in Sydney has been sold for a staggering $22,055,000 at auction. This sale price far exceeded the initial price guide of $20 million, marking it as one of the most significant residential property transactions in the area.
The Property
The property, purchased by Mark and Robyn Tzipris for $760,000 in 1985, sits on an 824-square-meter block opposite the Hermitage foreshore walk and Strickland House. Its prime location offers panoramic views of Sydney Harbour, enhancing its appeal to potential buyers. The home boasts a range of luxurious features, including a granite kitchen, internal lift, pool, and a rooftop with potential for further development.
The Auction
The auction was conducted by James Keenan, with three active bidders participating. Bidding commenced at $19 million and escalated in $100,000 increments until the final sale price of $22,055,000 was achieved. The competitive nature of the auction reflects the high demand for properties in this prestigious area.
Market Implications
This record-setting sale highlights the resurgence of the Sydney property market, which is regaining momentum post-winter. Sellers are encouraged to present their properties attractively, while buyers are advised to act swiftly to secure desirable homes. The success of this auction underscores the ongoing strength of the luxury real estate market in Sydney.