Burraneer luxury property a ‘model’ sale

Hot property: This Burraneer waterfront sold for $4.96 million on Saturday. Picture: Lisa McMahonA LUXURIOUS waterfront property at Burraneer sold for $4.96 million on Saturday.
Nanjing Night Net

The Shell Road property originally had a selling price for more than $8 million but a struggling prestige market resulted in the price tag dropping to more than $6 million in January.

It was the highest sale for the area in the past 12 months.

Fairfax-owned Australian Property Monitors had recorded $4.36 million previously as the highest.

Selling agent Kieran Bresnahan of McGrath Real Estate said they were hoping for more but were happy with the outcome.

‘‘The prestige market is not perfect at the moment but the vendors are pleased they can move on,’’ Mr Bresnahan said.

There were four bidders and a crowd of about 50 people at the auction.

The five bedroom and five bathroom property was once the home for contestants on Foxtel’s Australia’s Next Top Model.

Highlights include 180-degree water views, a theatre room, 20-metre lap pool and six living areas.

More than 730 auctions were held in Sydney on Saturday — the highest number held since 2010.

Posted by at 24/04/2018
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