‘ Ridicu­lous’ — shock at huge price

The Sunday Telegraph (Sydney) - - REALESTATE -

THE Bondi Junc­tion home (above) was a time cap­sule from an­other era, but yes­ter­day a lo­cal Chi­nese fam­ily paid $2.8 mil­lion — $500,000 more than the re­serve price — at a hotly con­tested auc­tion.

“It was ridicu­lous … mas­sive,” the gob­s­macked agent, Clay Brodie, of Ray White Wool­lahra, said later.

He and his col­league Don Ri­ley had five bid­ders reg­is­ter, but only three could get a bid in for the four-bed­room home at 2 Coun­cil St, which has been in the Stephan fam­ily for more than 70 years.

The suc­cess­ful pur­chasers, in­vestors, blew away the com­pe­ti­tion with a fi­nal knock­out bid of $100,000.

The un­der­bid­ders were a fam­ily who lived a block away hop­ing to up­size.

It will rent for $1200 a week.

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