Va­cant block brings $ 1.9m

The Sunday Telegraph (Sydney) - - REALESTATE -

AN en­gaged cou­ple in their late 20s paid $1.915 mil­lion for a rare va­cant block of land at Bal­main East.

The 175sq m empty block, with DA ap­proved plans for a four bed­room, three bath­room home, at 12A Union St sold for $415,000 above re­serve. Belle Prop­erty Bal­main agent Monique Dower said it was hard to put a value on the rare of­fer­ing and the sale price ex­ceeded her ex­pec­ta­tions.

She said the new own­ers plan to fin­ish build­ing within six months.

“It did well be­cause of the scarcity; there’s no other land you can buy in the area,” she said. “All of the hard work is done with DA process, the new own­ers can start im­me­di­ately.”

The other six reg­is­tered par­ties were builders hop­ing to build and on­sell. Auc­tion­eer Nick Boyd had a strong and fast auc­tion with three ac­tive bid­ders, ac­cept­ing a first bid of $1.35 mil­lion and the sec­ond bid at the $1.5 mil­lion re­serve.

Mean­while, at Con­cord, an orig­i­nal post-war home at 9 Duke Ave was sold for the first time in 71 years.

The two-bed­room prop­erty on 510sq m of land sold for $2,005,000.

9 Duke Ave, Ave,AveCon­cord

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