Australian charities set to be $3.3 million richer after Greenwich deceased estate sells

Australian charities are set to be $3.3 million richer after the sale of a deceased estate in Greenwich.

The owner of 37 Vista St left her entire estate to charities, which are yet to be chosen but may include The Red Cross, according to the deceased’s only relative. The owner had been a lifelong Sydneysider who did not have children.

Even though the run-down four-bedroom property was on sunken land it was built atop a rock face, which perched it above its neighbours and provided almost unfettered views of the city from some rooms.  

This vista is what attracted 16 registered bidders and a large crowd to watch the auction, according to selling agent Peter Blacket of The Blacket Agency.

“Some properties have a magical quality … it had a good position. Greenwich is a very closely held little area,” Mr Blackett said.

It was one of 530 auctions listed across the city on Saturday. By evening, Domain Group had recorded a 54.6 per cent clearance rate from 304 reported results.

After auctioneer Jake Moore was first met by silence, one party attempted to open the auction with a $2 million bid which was rejected because it was too low.

It was not long before it got underway with another bid at $2.4 million, rising by $10,000 increments from there.

Three new bidders entered the race at the $3 million mark, offering bold $100,000 bids until the hammer fell at $3.3 million – selling for $400,000 above reserve. A local Greenwich family walked away with the keys to the property.

Mr Moore said he knew the house would be hotly contested – six bidders were active in total – and he was not surprised by the purchaser bidding “fiercely” towards the end.

“My view is that they were buying it no matter what at an unlimited budget, to an extent.”

The property was on the market for the first time since 1968.

Meanwhile, in the city’s east, a two-bedroom apartment in Bronte sold under the hammer for $1,451,000.

Two of the three registered bidders threw their hats in the ring for the 70-square-metre property on 1/17 Darling St.

Bidding opened at $1.35 million, rising in increments of $10,000 then down to $500 towards the end.

After 20 minutes it finished a whisker above the $1.45 million reserve.

A middle-aged first-home buyer who worked in finance walked away with the keys. It last sold for $1.1 million in 2016.

Selling agent Nick Quilkey of Phillips Pantzer Donnelley said the vendors set a reserve above what they were expecting and were prepared to negotiate afterwards.

He said the property sold because it “ticked a lot of boxes”, including its north-facing position and recent renovations.

Elsewhere, in Bondi Beach five parties, including local families and an investor, registered to bid on a five-bedroom house at 82 Simpson St.

The auction got underway with an opening bid of $2.8 million. It rose in increments of $50,000 and $25,000 before dropping to $10,000 and $5000.

The hammer fell at $3,365,000 – selling for $450,000 above reserve. The 297-square-metre property last sold for $1.08 million in 2006.

Selling agent Simon Exleton of McGrath Edgecliff said a level block with a double lock-up garage so close to the beach was hard to come by.

“It’s a generational home … the new family will probably be there for 25 years,” Mr Exleton said.

In the south, a three-bedroom freestanding house in Rosebery was strongly contested by four of the seven registered parties.

Upsizers, an investor and even one first-home buyer were all vying for the keys to 341-square metre block on 18 Rolfe Street, which last sold for $1.09 million in 2013.

An opening bid of $1.2 million started the auction, increasing in $25,000 increments. After the $1.35 million mark it slowed down to $10,000 bids.

A Camperdown couple walked away with the winning bid of $1,415,000. It sold $15,000 above reserve.

Selling agent Chris Skarlatos of Laing+Simmons Rosebery said it was a well presented home at an attractive price point for owner occupiers who were looking to upgrade.