A two-bedroom apartment with harbor views in a tight neighborhood on Sydney’s Lower North Shore went under the hammer in a competitive auction with proceeds left to charity.
The Kurraba Point property was offered for sale in its original state and the renovation prospects were a major selling point of the late estate gifted to Wesley Mission.
You can catch a glimpse of the harbor from almost every room. Image: realestate.com.au/sold
Homes in Kurraba Point can fetch tens of millions of dollars, with a new suburb record of $28.25 million reached this weekend with the sale of a nearby waterfront penthouse.
Selling agent James Dorron of O’Gorman & Partners Real Estate Co said the bequeathed apartment had broad appeal beyond its blue ribbon location. He spoke to realestate.com.au to talk about why this defunct estate was attracting such competitive bidding.
The property: A two bedroom, one bathroom apartment at 2/48 Shellcove Road, Kurraba Point. It was sold at auction on October 11, 2025 for $1.855 million.
Offered for sale for the first time in about 40 to 50 years, Mr Dorron said the apartment had 105 sq m of living space, including a living area with a separate dining area opening onto a balcony overlooking Sydney Harbour.
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Sales agent James Dorron of O’Gorman & Partners Real Estate Co.
It is one of 12 apartments in a secure boutique block just steps from Kurraba Point Wharf.
Snapshot of the suburb: According to data from PropTrack, the average price for a two-bedroom apartment in Kurraba Point was $1.5 million in September.
Were you surprised by the result?
We made sure that the clients were prepared if they were to receive interest of approximately $1 million [$1.5m]they should consider it. They set their reserve a little bit lower because they wanted to get it sold, so the reserve was probably a little bit lower than where I expected it to maybe end up, but the market has also started to pick up.
How many parties have registered to bid or have submitted a bid?
The reserve was $1.4 million. We had bids from $1.47 million to $1.855 million and there were probably more than 10 [bidders] registered. It was fought between six bidders.
What’s the most interesting thing about this sale?
You don’t get a lot of sales that are for charity. I didn’t know much about the seller, but my understanding was that it was part of an estate and that the money was obviously left for charity. She was one of the original owners of the block…she had lived there for a long time.
The unit is located in a boutique block of just 12. Photo: realestate.com.au/sold
The unique thing about this building is that it was a really good size. It attracted everyone from home buyers, to renovators, to flippers, to investors, it got the whole spread. Ultimately it went to an owner-occupier.
The apartment is steps away from regular bus and ferry services to Sydney’s CBD. Image: realestate.com.au/sold
The floor plan likely gave people some flexibility to open up the space a little more, add a second bathroom or even a third bedroom. There aren’t many properties that can do that.
How long was the property on the market?
Four weeks. As it was with the charity it had to be sold at auction as per their internal procedures.
What do you see as the future possibilities for the area?
Kurraba Point is a bit of a hidden gem, so to speak. Shellcove Road has multi-million dollar homes [on the water] at $20 million plus.
Homes along the water can sell for well over $20 million. Image: realestate.com.au/sold
The feedback from buyers coming in was that they had never heard of Kurraba Point – it’s one of those suburbs that gets a little missed on people’s radar.
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