Sydney buyers buy Turner home for $4.15m, setting suburb and overall Inner North record

It’s not every day a house sets a suburb and overall region record, but a five-bedroom property in Turner has done just that after it sold via private negotiations for $4.15 million. 

The sale at the end of May surpassed the previous suburb and region record by $1.45 million.

The residence at 64 Boldrewood Street previously passed in at auction in April for $3.4 million, despite a popular auction campaign. The auction attracted eight bidders on the day, but selling agent Luke Revet of Blackshaw Manuka and the sellers believed the property was “worth close to $4 million”.

“Two weeks after it passed in, a Sydney family called and asked if the home was still available and, from there, they placed an offer and a private bidding match began between them and a local Canberra family [who expressed their interest in the home post-auction],” he said.

Offers for the property started at $3.7 million and, over the course of two days, the residence managed to surpass the $4 million mark.

“At the tail-end of negotiations, I asked both parties to place their best and final offers and the Sydney party placed $4.15 million and that was that,” Mr Revet said.

“The eventual buyers were actually at the auction when it passed in but were waiting to sell their Sydney home in Mossman before moving and buying in the capital.

“I went to the underbidder and asked if they wanted to counter their offer, but they were up against Sydney money; you can’t compete with Sydney money. Realistically, I think they were willing to offer more if it came down to it because they really wanted it.”

The buyers moved to Canberra to be close to family and had been looking in the Inner South and the Inner North for a number of months.

“The prices achieved in the Inner South will soon come across to the Inner North, and the buyers saw value in that,” Mr Revet said.

“It’s so close to everything, such as the city centre and ANU, and there are pockets of the region that have some pretty spectacular homes that are worth a premium price tag.”

The property at 10 Ridley Street previously set the records for Turner and the overall Inner North when it sold for $2.7 million in 2012. 

“I always believed the home was worth close to $4 million but didn’t know if buyers would be willing to pay that much – and now that it has reached that price, it wouldn’t surprise me if we saw more sales up to that price,” Mr Revet said.

The seller, Mario – who only supplied their first name – said the sale had “exceeded his expectation by far”.

“I put my sweat and tears into the home and built it with the intention of living in it forever. It accommodated my entire family, including my sons and even my parents,” he said.

“So for it to achieve the price it did is wonderful because it shows that the work that went into building it paid off.”

Mario said he decided to part with the home in a bid to take on a new project.

“We’ll miss living there,” he said. “We’ve lived in Turner for 15 years and we loved the neighbourhood. We’ll miss our neighbours and its location.

“My wife and I used to walk to the lake from there. Everything was so close to it so we’ll definitely miss that but we know the new homeowners will love it.”