Rare waterfront reserve property in Castlecrag sells for cool $5.3m
Retired Sydney surgeon Dr Frank Fisher and his wife Penelope have sold their much-loved Castlecrag home for $5.3 million. It was the top sale in a busy auction weekend on the north shore.
The upper north shore was a standout performer on the Sydney auction front on the weekend.
Headlining the strong results was the $5.3 million sale of a rare Castlecrag waterfront reserve property owned by retired Sydney surgeon Dr Frank Fisher and his wife Penelope.
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Treasure trove of history hits the market
While Sydney’s general clearance rate was 66 per cent, the north short notched up a healthy 75 per cent, with agents reporting strong numbers at auctions and a significant increase in the number of buyers registering to bid.
At one auction in Artarmon, 19 bidders lined up, and the reserve was broken by more than $600,000.
However, the Castlecrag property at 273 Edinburgh Rd, was a sentimental favourite, having been owned by the Fishers for 54 years.
The modernist masterpiece is widely regarded as a local architectural treasure.
Anthony Cowie, of Ray White Lower North Shore, who sold the property with colleague Richard Harding, said more than 200 people inspected the home in the lead-up to the auction.
Nine buyers registered to bid, and the property sold under the hammer for $5.3 million. Mr Cowie said buyers loved the rare waterfront reserve location.
The house stretches almost the entire width of the 1581sqm block, and has due north views across Fig Tree Cove and Middle Harbour.
Daughter Sarah Fisher, said the family was pleased with both the sale price and the buyer, who has not been identified, but is understood to be from the lower north shore.
“Hats off to Ray White and hats off to our beautiful buyer,” Ms Fisher told the North Shore Times.
“They’re (her parents) really happy with the result.
“It was well and truly time for them to move on. When we went into the auction we knew conditions were perfect and we got a really good result.”
Her parents have downsized to Mosman, and she said they were looking forward to seeing what the new owner did with the property.
“It is a wonderful location, it will be great to see the place reinvested in,” Ms Fisher said.
Mr Cowie said it was an emotional sale.
“It’s such a nice, strong way to close off a chapter of this lovely family’s history,” he said.
It was also encouraging to see buyers back in the game.
“The Federal Election was the last reason for people not to buy,” he said. “The rate cut is just fresh tinder on the fire — it’s going to stoke it.”
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Originally published as Rare waterfront reserve property in Castlecrag sells for cool $5.3m