An exclusive South Coast home has sold for an eye-watering $10 million under the virtual hammer - more than doubling the previous record for the suburb.
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The home, located at 15 Shipton Crescent, Mollymook sold at online auction Friday night after 39 days on the market.
Selling agent, Ben Pryde from Raine and Horne Mollymook/Milton confirmed the $10 million sale price, but declined to disclose any details about the buyer.
He said there were 13 registered bidders, and "very spirited" bidding took place.
"Up to around the mid-$8 million mark there were still three bidders in it, and then it came down to the last two right through to hit the $10 million mark," Mr Pryde said.
The home, listed with a price guide of $6.5 million, last sold in 2016 for $2.36 million according to CoreLogic records.
Mr Pryde said bidders who participated included "ex-pats, Sydney-siders, people from out west, interstate".
"There were plenty of big players involved," he said.
Set on 1164 square metres, the home is located on the southern side of Mollymook and backs on to Colliers Beach.
The original four-bedroom house was featured in Home Beautiful magazine in the '90s. It was extensively renovated in 2008.
Mr Pryde recently told the Mercury that the seller had largely left the home intact, making minor improvements.
He said the gains made on the property in the ensuing five years were indicative of the "hotly contested" Mollymook market.
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The result has also smashed the sale price record for Mollymook.
The residential sales price record for the suburb is believed to be $4.45 million, set in 2019.
The sales price record for neighbouring suburb Mollymook Beach is believed to be $4,425,000, set earlier in 2021.
Brendan Crabb
I'm a member of ACM's national property team, covering the Illawarra and South Coast. Based in Albion Park, NSW, I write about exciting, interesting or just downright quirky properties that have been listed for sale, major sales, market trends, auctions and more. One of my favourite aspects of being a journalist is I believe everyone has a story to tell. What's yours?
I'm a member of ACM's national property team, covering the Illawarra and South Coast. Based in Albion Park, NSW, I write about exciting, interesting or just downright quirky properties that have been listed for sale, major sales, market trends, auctions and more. One of my favourite aspects of being a journalist is I believe everyone has a story to tell. What's yours?
