Lux­ury pent­house apart­ment passed in at auc­tion

The Sunday Telegraph (Sydney) - - HOT AUCTIONS -

IT went to auc­tion with ex­pec­ta­tions of crack­ing the na­tional record price for a unit sold un­der the ham­mer but a Syd­ney pent­house proved not to be the his­tory-mak­ing sale many had hoped.

The apart­ment on level 40 of Dar­linghurst’s Hori­zon Apart­ments (right) — which in­cludes jaw-drop­ping views of the Har­bour, CBD and Opera House — passed in at auc­tion on a ven­dor bid of $16 mil­lion.

Knight Frank lead agent Adam Ross said there was a high chance the prop­erty would sell in post-auc­tion ne­go­ti­a­tions. “There’s plenty of com­mu­ni­ca­tion go­ing on be­tween the so­lic­i­tors of the in­ter­ested par­ties,” he said.

Auc­tion­eer Damien Coo­ley had two par­ties regis­ter but, de­spite much coax­ing, nei­ther vol­un­teered an of­fer at the pri­vate on-site auc­tion. The prop­erty was billed as the largest sin­glelevel apart­ment in Syd­ney and of­fered 565 sqm of in­ter­nal space, along with another 145 sqm of bal­cony space.

Mr Ross, who shares the list­ing with col­leagues Oliver Still­man and Deb­o­rah Cullen, said the auc­tion had “un­cov­ered buy­ers we would have oth­er­wise not met”.

“It sends a di­rect mes­sage to the mar­ket­place that we’re selling,” he said.

The prop­erty was first of­fered to the mar­ket in Fe­bru­ary in an ex­pres­sions of in­ter­est cam­paign with a $20 mil­lion guide, but went to auc­tion with a $16.5 mil­lion guide.

The lux­ury prop­erty was re­designed by Mim De­sign.

The Mel­bourne-based Gra­ham fam­ily had bought the empty shell across two ti­tles for $9.83 mil­lion early last year.

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