The property in Cabarita sold for $ 14 million, but the buyers are not interested in the current house.
A Sydney ownership only has $ 14 million for its land value, where the new owners are planning to bring down the existing house to pursue their dream house.
The real estate with four bedrooms, four bathrooms on Phillips ST, Cabarita was purchased in a private sale for a fee of more than $ 10.3 million above the average house price of the suburb.
The block is a rare fate on the water in the area.
According to Horwood Nolan founder and director Ben Horwood, the house was bought by a local family who wanted nothing but the best block in the area.
“It is a local family who wants to build their absolute dream house,” he said.
“They are really welded in this area and do not want to move.
“They were born and bred in the area, their children go to the school here and they wanted to buy the best real estate that they could locally and this was the one.
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The house was built about 30 years ago by the previous owner.
The building was previously 65 years old owned by a woman who is now in her 90s who wants to shrink.
Norwood said the existing house was being built about 30 years ago.
He said it was “a nice house” that the new owners will want to rent out while plans are being completed for their dream stay.
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The new owners will rent the house while plans are made for their new home.
Mr. Norwood said that the block commanded a high price because of the rarity in the area.
“It is a rare block in the sense that it is flat on the water that is directed to the north,” he said.
It is not the first house to crack the $ 14 million in the area, with (another home on) Phillips ST who sells $ 14.62 million in December 2022.
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