Par­ents fly in to make the win­ning bid

The Sunday Telegraph (Sydney) - - REALESTATE -

FIRST-home buy­ers rent­ing in Manly had to go to a wed­ding in Welling­ton, New Zealand, so their par­ents did an emer­gency dash from Mel­bourne to bid on their be­half.

And Mum and Dad did well, with the cou­ple, in their 30s, now the proud own­ers of a two-bed­room Art Deco har­bour­side apart­ment at 6/33 The Cres­cent.

“They’re back on the plane tonight, with the job done,” said Cun­ning­hams Prop­erty’s Ge­orgi Bates, who sold the pe­riod apart­ment for $1,275,000 — $25,000 above re­serve. “But the par­ents weren’t buy­ing the apart­ment for them, as is of­ten the case these days. They were just do­ing the bid­ding.”

There had been six bid­ders reg­is­ter, with three ac­tive.

The un­der­bid­ders were a cou­ple from Bondi, who are plan­ning a move across the Bridge be­cause one was from the north­ern beaches.

With a crowd of 120 peo­ple, bid­ding started at $1.15 mil­lion and rose in $10,000 in­cre­ments. Bid­ding slowed down from $1.2 mil­lion, but con­tin­ued with $5000 of­fers at $1.26 mil­lion, and then $1000s.

Along with po­ten­tial owne­roc­cu­piers, in­vestors had been keen. The apart­ment would rent for be­tween $900 and $950 a week.

The Cres­cent, Manly.

In­te­rior of 6/33 The Cres­cent, Manly.

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