Join Australia's most dynamic and respected property investment community

The Bidding Game Northern Beaches Sydney!

Discussion in 'General Property Chat' started by Jacque, 17th May, 2016.

  1. Jacque

    Jacque Buyers Agent and Bookworm, Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    516
    Location:
    Sydney
    In the spirit of the guessing game, thought I'd throw a luxury home into the mix! This one's a tough one as the original home has been re-designed into two residences. A friend of mine lives in the suburb and all their neighbours are finding it tricky to price, despite looking at all the comps in Collaroy. Said I'd put it out there and see what the property addicts think LOL. If you're a northern beaches resident you'd have a better idea than most, but with a backend listing of $3-5m where do you think this beauty sits?

    25 & 25A Beach Road Collaroy NSW 2097 - House for Sale #122614194 - realestate.com.au
     
    Leo2413 and bob shovel like this.
  2. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,545
    Location:
    Sydney or NSW or Australia
    There's very few sales in that pocket of Collaroy so comparables are thin.

    The data shows sold Feb 2012 @ $2.5 and it was already duplexed.

    My gut's telling me 2@$1.5-$1.75m (about 3 years of cg only).
     
  3. EN710

    EN710 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,099
    Location:
    NSW
    Are they selling two homes?
    I'd say $1.47M each just to be exact.
    If it is one building, $2.7m
     
  4. bob shovel

    bob shovel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,372
    Location:
    Somewhere in the land of Oz
    Its a package deal id say. One sale gets you the two
    Becoming more common on northern beaches. ... the owner usually lives in the crappyer one :D
    Not much of a story written about it. That will score them less. I didn't watch the video either. But looks very flash
     
  5. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    1,160
    Location:
    Gold Coast
    238

    ta
    rolf
     
  6. Jacque

    Jacque Buyers Agent and Bookworm, Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    516
    Location:
    Sydney
    Just to be clear they're def selling both at once
     
    EN710 likes this.
  7. bob shovel

    bob shovel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,372
    Location:
    Somewhere in the land of Oz
    Do you have a good idea what it would sell for @Jacque (you don't need to tell us)? Do you source these types of properties for clients? Very nicely done, although i felt it was a bit dark in there.

    I have no idea with the finishes and how much that plays a part .
    But I'll say $3.1m
     
  8. Magnet

    Magnet Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    247
    Location:
    Sydney
    I'm thinking 4.5. This is one of the most sought after locations on the NB other than an outright waterfront.
     
  9. Excalibur1

    Excalibur1 Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    183
    Location:
    Sydney
    I don't think investor will buy this and most people that do buy in the area want the home to themselves. So maybe kids upstairs and parents downstairs kid of arrangement.

    I think it will go for 3.42m. :) whats the prize?
     
  10. Jacque

    Jacque Buyers Agent and Bookworm, Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    516
    Location:
    Sydney
    @bob shovel we love sourcing beautiful properties like this for clients and have had the pleasure of being able to do so over the years however this is definitely NOT one of them (unless we get a Collaroy client in the coming weeks!) Just a query from a friend who's a local and I thought it would be interesting to see what other regular property buyers think :)
    Mind you I think so far @Magnet might be the closest horse in this race. We'll see.....
     
    Magnet likes this.
  11. bob shovel

    bob shovel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,372
    Location:
    Somewhere in the land of Oz
    Wow and wow! :eek:
    have they over capitalized with the reno? With that reno work id want the whole 5 beds to myself! I see 25a holding it back
     
  12. Chrispy

    Chrispy Well-Known Member Premium Member

    Joined:
    21st Jun, 2015
    Posts:
    300
    Location:
    Melbourne
    Amazing location. I do not know the area. I would think it will be around $4.3m.
     
  13. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    4,894
    Location:
    Sydney
    My guess is somewhere in the 4's.
    Not sure where yet though...
     
  14. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    4,894
    Location:
    Sydney
    Ok. 4.00m.
     
  15. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,545
    Location:
    Sydney or NSW or Australia
    70% of purchases in most areas are OO, nothing earth shattering.

    Prize for winning the auction? A healthy bouncing mortgage.
     
    Jacque likes this.
  16. Jacque

    Jacque Buyers Agent and Bookworm, Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    516
    Location:
    Sydney
    Well you were all wrong! Sold on weekend (prior to storm and king tides which may or may not have affected outcome :eek:) for $5,050,000. I know who bought it too (though I can't disclose) and it's definitely someone who could afford it. Let's hope the local stigma after the storms doesn't affect the values too much and the beach can be restored.... looking pretty dim out there from what I've heard.
     
    Magnet and EN710 like this.
  17. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    4,894
    Location:
    Sydney
    I think its far enough from the beach to be ok. Well done seller! Perfect timing. :)
    If I was the buyer though maybe I'd feel some buyer's remorse right now seeing the events of the weekend.

    I think insurance could be a question mark given that the houses right at the beach pretty much werent covered for a king tide scenario.
     
  18. Graeme

    Graeme Well-Known Member

    Joined:
    26th Jul, 2015
    Posts:
    258
    Location:
    Melbourne
    A few more big storms, and it might be a beachfront property. :D

    Although I'm not sure if that would be a good or bad thing for valuations, given the state of coastal erosion.
     
  19. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,545
    Location:
    Sydney or NSW or Australia

    Ouch! I didn't expect it to go anywhere near that high.