A Randwick home in the same family for 40 years has sold for more than $6.75m — $1.5m above the guide price and smashing the suburb record by $350k. It hit the market yesterday.
McGrath agents Stephen McMorrow and Angus Gorrie instantly had buyers fighting over the Federation home on a rare 836 sqm block at 53 Govett St.
The deal was done this afternoon, though negotiations had already started when it was off-market. It’s understood the purchasers are a family from Paddington.
Explaining the huge result so quickly and especially during the pandemic, McMorrow said: “There’s been no house on the market in Govett St — one of the best streets in Randwick — with a north-facing backyard on that size block of land for 20 years.”
The agents had a price guide of $5.25m.
Stephen McMorrow said he was bound by a confidentiality agreement regarding the exact sale price, but said the result was more than $350k above any other house sale in Randwick.
With the previous record being $6.4m for a house in Ray St three years ago, that put the sale price for the Govett St house at more than $6.75m.
Angus Gorrie added it was “a killer price”.
He said that despite COVID-19, vendors with quality homes should have confidence to sell in the current market.
“We had 81 email inquiries last night,” he added.
“There is confidence in that price bracket … Randwick north is highly sought after, but this house needs a lot of work.
“The last time it was renovated was 30 years ago, so we’re not talking about a finished house here.”
The property has been owned by the Jones family since 1983, when it was purchased for the grand some of $226,500.
The block had an 18.3m wide frontage. And there’s a pool. A double garage is accessed via a rear lane.
Centennial Park and the village cafes on Clovelly Road are close by.