$25m sale the shape of things to come in north shore hot spot

Developers are rebuilding a north shore suburb that’s fast becoming a hot spot for well-heeled families.

20 Coolawin Rd, Northbridge goes to auction this Saturday with a $9m price guide via McGrath Northbridge.

Northbridge residential property is performing strongly this quarter with a $24.8m sale nipping at the heels at the suburb record and a swag of sales north of $8m.

While families are discovering this suburb close to the city with views, developers have also arrived paying big money for land where they can either build a luxury home or subdivide into duplexes.

The median house price in Northbridge is $5.28m, according to PropTrack, but recently developers have been snapping up corner blocks for much more than the median price.

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It has curved glass full-length windows.

And the curves continue inside.

District views.

A 1950s redbrick home in Coolawin Rd has just sold for $9.2m, and a five-bedroom home on 985sqm in Bourmac Ave has sold for between $8m and $9m.

Then in September a new deep waterfront property in Coolawin Rdsold for $24.8m just shy of the suburb record of $25m set in 2022.

Rose Farina, of McGrath Northbridge, said developers were particularly interested in level blocks with a wide frontage where there was an older home.

“They know the upswing of buying a wide big block, preferably on a corner. If the block is more than 700sqm they can build duplexes, subject to council approval,” she said.

A lift from the lower-level garage extends to both levels of accommodation above.

The property is brand new.

Some developers though buy and rebuild like Sybil Chen and Daniel Hu who have built a brand-new house at 20 Coolawin Rd replacing a brick bungalow they bought for $4.312m in 2022.

The five-bedroom home on a prime corner block with Middle Harbour views has curved glass full-length windows, marble floors, a mezzanine gallery, outdoor kitchen, pool and wine room.

A lift from the lower-level garage extends to both levels of accommodation above. Three of the bedrooms have their own ensuites and open to balconies and there is full automation throughout.

This home has never been slept in and none of the top appliances have been used, the ovens in the indoor and outdoor kitchens are pristine.

The landmark home on the high side of the street goes to auction on Saturday December 7 and has a $9m guide.

Originally published as $25m sale the shape of things to come in north shore hot spot