Market ‘on fire’: Get set for the ‘hottest auction of the summer’

The auction of a high profile New Zealand investor’s Bondi Beach apartment is set to be the ‘hottest this summer’.

2/8-10 Notts Ave, Bondi Beach has a $14m guide for a February 25 auction.

The auction of a high profile New Zealand investor’s Bondi Beach apartment will be the “hottest this summer”, the agent says.

Raine and Horne Double Bay’s Alex Lyons and his colleague Charlie Davies are putting Ben Cook’s newly renovated two-bedroom, two-bathroom 150sqm pad at 2/10 Notts Ave under the hammer on February 25.

Lyons came close to inking a deal late last year when it had a $16m guide.

“At $14m, it’s very attractive,” Lyons said.

“It’s the best apartment in Bondi.

“We’re getting a lot of interest, with a couple of locals and a couple of internationals keen.

“The market’s absolutely on fire this year, I’ve got $150m worth of campaigns running currently and we’ve got offers on everything.”

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The apartment has rare northerly views over the beach and ocean.

It offers 150sqm of living space.

Lyons points out there are just three apartments in the boutique building, which have the “best possible north-facing views in Bondi”.

“The one-bedder sold at $11m and the penthouse sold at $27m and they both needed work — this is turn-key”.

There seems to be plenty of enthusiasm for a Bondi Beach view at the moment, with the Wentworth Courier last week breaking the news that a tiny 35sqm apartment in North Bondi sold for $2.32m. more than $1.3m above the initial guide.

Cook, 48, who has frequented New Zealand’s rich list for several years, purchased his Bondi Beach pied a terre in 2015 for $3.925m, but has since undertaken a complete internal rebuild with Stewart + Stewart Interior Designers.

Wake up to sensational ocean views to Ben Buckler point.

The apartment has been newly renovated.

In other auction news, a “cosy” two-bedroom terrace that last traded for £5400 in 1963 opposite the exclusive new Surry Hills Village in Redfern sold for $2.09m on Saturday.

The home at 18 Marriott St is like a time capsule from the 1960s and ‘70s with its rounded archways, lace curtains and retro interiors.

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Mark Foy of McGrath Surry Hills intially had a $1.8m guide, lifted to $1.8m due to interest.

There was an offer of $2m prior, but the vendors opted to proceed to auction.

On the day, there were three registered bidders, with all three competing.

Bidding opened at $1.8m, rising in $25k increments to $2m.

There were then $10k and $20k offers to the sale price.

The buyers were a young couple planning to move in and renovate in future years.

The reserve was $2.05m.

Originally published as Market ‘on fire’: Get set for the ‘hottest auction of the summer’