Families determined to secure a home in Auckland’s prized double grammar zone drove up the price of a renovated bungalow at a competitive auction this week.
The four-bedroom home at 9 Platina Street, in Remuera, sold for $4.6 million – more than $600,000 above the reserve and $1.4 million above the 2017 CV.
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The listing agent for the property, Bayleys’ Lorraine Young, said the sale price had stunned the vendor.
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The house had only been on the market for 12 days, and had attracted a pre-auction offer of $3.95 million.
Four buyers took part in the auction, with a local family making the winning bid. Losing out was the buyer who made the pre-auction offer.
The property also attracted the attention of developers, with 314sqm home sitting on a flat 877sqm freehold section zoned for mixed housing suburban density.
Young said: “There was a developer looking at it but a family prevailed and I am very pleased with that.”
The house was remodelled by architect Ron Sang and heritage designer Stephen Cashmore. Photo / Supplied
Young said she had a number of families waiting for properties like 9 Platina Street, some of whom had already sold.
“Families who missed out were also bidding on properties in Greenlane and Mount Eden because there’s a real shortage of great quality family homes of this scale on flat sites,” she said.
“There’s not a lot of houses that come for sale on the street, which I think was a part of the appeal,” she said.
The 1920s build house had been extensively remodelled by noted architect Ron Sang and heritage designer Stephen Cashmore.
