Two empty blocks in Northbridge on Sydney’s harbour sell for a combined $14.75million
Two of Sydney’s ‘best’ empty blocks of land with stunning harbour views have sold for a combined total of $14.75million.
The pair of vacant lots sit side-by-side at 8 Byora Crescent and 8 Minnamurra Road in Northbridge, in the city’s lower north shore, and went under the hammer on Saturday morning.
Both blocks have panoramic views of Sailors Bay, Middle Harbour and The Spit, and have DA approval to be built into spectacular five-bedroom homes.
The two auctions attracted 10 registered bidders each with multiple prospective buyers trying their luck on both blocks.
The 697sqm block on Byora Cres sold for more than $1million over its reserve, for an astonishing $7.05million.
Two harbour-view blocks (above) in Northbridge, Sydney sold for an astonishing $14.75million on Saturday
The blocks (above) are pre-approved for development and feature views of Sailors Bay, Middle Harbour and The Spit
Meanwhile, the 773sqm Minnamurra Rd block in front sold for $700,000 over its reserve at $7.7million.
Auctioneer Damien Cooley, from Cooley Auction, said the first bidding war had to be paused midway through as buyers grew nervous.
‘We auctioned 8 Minnamurra first and when we got to $5.75million no one was bidding. We suspended the bidding and then auctioned Byora Cres,’ he told Realestate.com.au.
‘Afterwards we reopened bidding on Minnamurra and it sold. When it comes to vacant land that boundary each other, buyers often get nervous about what one is going to sell for compared to the other.’
He said the first sale gave bidders the ‘confidence’ they needed to continue competing for the Minnamurra lot.
The site was previously home to a large 1940s house that sat on the shared 1470sqm block of land.
It was last sold in 2021 for $9.2million before it was divided.
The 697sqm block on Byora Cres sold for more than $1million over its expected price for $7.05million (pictured, impression of a future home on 8 Byora Cres)
The 773sqm Minnamurra Rd block sold for $700,000 over its reserve at $7.7million (pictured, impression of a future home on 8 Minnamurra Rd)