Yahoo Finance Eye-watering sale price of Sydney home once sold for $153,000
A dilapidated mansion in Sydney's east has sold for an eye-watering sum of $16.5 million in an online auction— more than 100 times what it sold for in 1974.
The 744sqm Rose Bay home — which boasts panoramic views of the city skyline, Harbour Bridge and Opera House— sold for $153,000 almost 50 years ago.
Listings online for the crumbling two-storey house didn't contain any interior photos but showed the incredible views and backyard with a pool.
Sale is Sydney's highest auction price of 2022
The listing on realestate.com said the circa 1901 home has a formal lounge and banquet dining rooms and a combined kitchen and meals area on the entry level.
Upstairs are four large bedrooms, with the huge master wing complete with a dressing room and ensuite.
But the new owner plans to knock it down and build a new home to make the most of the extraordinary views, according to realestate.com.
The house's late owner Norman Barrett was once married to Australian actress Carmen Duncan.
The couple had split in 1984, but a caveat on the title indicates the children stand to benefit from the property sale, reported realestate.com.
Also read: Top 20 suburbs to buy where prices are set to skyrocket
Also read: $37,021 gain: Property market set to outperform Sydney in 2022
Company director Mr Barrett reportedly died last January at the age of 84.
Ms Duncan died of cancer in 2019. She was best known for her roles in Number 96, Skyways and A Country Practice.
The sale is Sydney’s biggest auction result so far this year. Bidding opened at $12m and rose mainly by $100,000 lots, with the winning bidder attempting bids of $200,000 to secure the property.
Follow Yahoo Finance on Facebook, LinkedIn, Instagram and Twitter, and subscribe to the free Fully Briefed daily newsletter.
