Belmore ‘time capsule’ sells $300k over reserve

A ‘time capsule’ sold under the hammer for $1.7m, $300k over reserve at an exciting auction on Saturday.

29 Belmore Ave, Belmore sold $300k over the reserve.

A Belmore “time capsule” sold under the hammer for $1.7m, $300k over reserve at an exciting auction on Saturday.

Ray White Bankstown agents Jordon Le Breux had 11 registered parties with six active for the three-bedroom, two-bathroom Californian bungalow on a 443sqm block at 29 Belmore Ave, Belmore.

Records show it was the longtime home of the late Marie Comarmond, who looks to have left the home untouched since the 1960s.

Le Breux said everyone was “absolutely blown away” with the result.

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The old Californian bungalow attracted 11 registered bidders.

The interiors are a blast from the past.

The agent estimates it needs up to $200k spent on it.

“It is not a development site, it’s old and needs around $100-$200k worth of work spent on it .... who said the market was cooling down?” he said.

The buyer was an investor who plans on renovating the property and potentially then renting it out.

“There is not much stock in Belmore at the moment.

“It has blown my mind that we achieved this result.

“The corner block, close to the station, was the appeal.”

The family who were in attendance for this deceased estate sale, were overjoyed when the hammer fell.

The main house at 17 and 17A Rainbow Place, St Clair offers five bedrooms.

The granny flat out the back has two more bedrooms.

Meanwhile, A five-bedroom home with two-bedroom granny flats on a huge 809sqm block at 17 and 17A Rainbow Place, St Clair was popular, attracting 15 registered bidders, with nine active before it sold for $1,352,000.

Auctioneer Alex Pattaro called it onto the market at $1,325,000.

The lead agent, Jake Borg, of Ray White Diamantidis Group said that they had 82 groups through the property during the quick three-week campaign.

“A house with a granny flat and in a corner position is an investor’s dream,” Borg said.

“We knew that this home would create enough competition for a huge auction, and that it would attract a lot of investors.”

The winning bidder was an investor, who plans to do a bit of work to it before putting it on the rental market.

The seller was also an investor, and unfortunately the home had been trashed by the last tenants.

56 Percival St, Stanmore had just three registered bidders.

It sold for $2.16m.

“There were holes in the wall and flooring destroyed; it wasn’t taken care of,” Borg said.

“Right before it was listed, there was a huge party at the home which caused some damage. “The investor fixed up the damage and had a full clean done before we put it on the market.”

The potential rent return is $750-$800 per week for the front house and $500 per week for the granny flat.

And in the inner west, a three-bedroom home on a 222sqm block at 56 Percival Rd, Stanmore sold for $2.16m.

The home had been in the same family for 70 years.

CobdenHayson agents Jonathan Hammond and Julie Hatch had three registered parties, but just two competed.

With auctioneer Damien Cooley presiding, bidding opened at $2.1m, with the second party then offering $2.15m.

After bidding stalled, that second bidder increased the offer to $2.16m before he property sold.

It’s understood the reserve was higher than that, but it had been deliberately set high and the vendors were happy with the result.

Originally published as Belmore ‘time capsule’ sells $300k over reserve