100% Clearance Rate at Block-Style Auction Event on the Upper North Shore

First home buyers, families and investors flocked to Mount Pleasant Ave in Wahroonga yesterday for a block-style auction event that saw Thomas Merriman of Ray White Upper North Shore sell 9 properties. The 8 freestanding four-bedroom brick houses and 1 930sqm vacant block of land were owned by the Seventh Day Adventist Church with proceeds from the sales going towards serviced apartments for nurses from the Sydney Adventist Hospital in Wahroonga.

Over 250 attendees watched on as competitive bidding for each home took place before the gavel came down. With vacant land such a rare commodity on the exclusive upper north shore, number 77 Mount Pleasant Ave, 930sqm of vacant land, offered an unmatched opportunity and with no comparable sales in the area, it was marketed with a reserve of $1. Bidding excitedly started at $1 and slowly increased to $8, then $15, eventually selling for $360,000 to a local builder.

Sales overview:

• 64 Mount Pleasant Ave – sold for $1,910,000
• 70 Mount Pleasant Ave– sold for $1,530,000
• 66 Mount Pleasant Ave – sold for $1,515,000
• 72 Mount Pleasant Ave – sold for $1,550,000
• 74 Mount Pleasant Ave – sold for $1,650,000
• 68 Mount Pleasant Ave – sold for $1,710,000
• 73 Mount Pleasant Ave – price not to be disclosed
• 75 Mount Pleasant Ave – sold for $1,528,000
• 77 Mount Pleasant Ave – sold for $360,000

Thomas Merriman from Ray White Upper North Shore proudly marketed the properties and said: “It was wonderful to see young families and first home buyers making up the bulk of purchasers of these homes. The Wahroonga/Normanhurst area is such a desirable area and with record low levels of stock recently, it was certainly refreshing for buyers to have the opportunity to bid on properties that were guiding $1.4-$1.5 million. Thus, the competition was fierce, and all properties sold above reserve, to the delight of our vendors who now have over $13 million to contribute towards housing for nurses,” he said.

Deb and Andy from The Block, Season 15 were onsite engaging the crowd and each buyer will have the opportunity to meet with them for a 2-hour styling session.