Turramurra mansion sets $10.125m auction high for upper north shore

A Victorian-era mansion in Turramurra set an auction high for the upper north shore on Wednesday night when it sold under the hammer for $10.125 million.

The sale continues a bull run of sales for the district and smashes the Turramurra suburb record by more than $4 million.

There were six registered bidders competing for the home of fund manager Martin Ritchie and his wife, interior designer Nina Harris, after an opening bid of $8.8 million, and half of those were still raising their paddles once the offer passed the $10 million level.

The auction result dispels a long-held notion that high-end property on the upper north shore doesn’t sell well at auction, according to  Tim Fraser, of Di Jones, who listed the property in conjunction with Chadwick Real Estate’s Lynette Malcolm.

Neither agent would reveal the buyer’s identity.

Records show the 1899-built residence on dress-circle Ku-Ring-Gai Avenue last traded for $5.825 million in 2016, but has scored a sympathetic renovation since then by Harris. The 2400-square-metre estate comes with the newly renovated six-bedroom residence with four living areas, a library and marble kitchen, as well as a tennis court and swimming pool.

The previous high was set by a neighbouring residence on a battle-axe block in 2016 at $6 million, and that was matched in 2018 by another house on the same Ku-Ring-Gai Avenue address.

The upper north shore’s prestige market has scored a run of suburb records this year despite the economic fallout from the COVID-19 pandemic.

The Pymble record was reset at $9.875 million yesterday when Danielle Scott, wife of Martin Scott, who is the local head of Swiss investment manager Partners Group, settled on a seven-bedroom residence on Lonsdale Avenue.

The Roseville high was reset at $8.85 million when Catherine Knox, chief executive of the Gidget Foundation, and her gynaecologist/obstetrician husband Vijay Roach sold their Roseville Avenue home, and last month a Federation residence redesigned by Luigi Rosselli sold for a Lindfield record of $12 million.