A hoarder’s derelict house in North Narrabeen that stood empty for years sold for $1.2 million at the weekend with eight groups competing for it.
Martha MacLaurin-Wood, of Drake Real Estate, said the old house at 75 Rickard Rd had been empty for three years, was on a sloping block plus it had structural problems.
But it still generated huge interest with builders, renovators and families all chasing it.
The three-bedroom house had been held for years by the late Michael Jackus a maths teacher and hoarder.
“He had inherited it from his parents and he was a hoarder, it was in a great state of disrepair,” she said.
The property was also on 1031sqm of sloping land and the gradient was so steep any new building on the site would need geotechnical reports.
Although eight groups registered to bid for the old home only two group bid, both of them local builders.
The new owner, who didn’t want to be named, said the land was so big he could build a granny flat at the back of the block and rebuild a new house at the front and being a builder he could carry out the work cheaper than other buyers.
North Narrabeen is one of the most heavily searched suburbs on the northern beaches.
Properties in North Narrabeen are the sixth most visited on the website realestate.com.au.
On average property in NSW attracts 3192 visits each. Ms MacLaurin-Wood said 75 Rickard Rd received 3850 page hits and 125 email inquiries.
She said owner occupiers were targeting North Narrabeen as a lifestyle suburb between the lagoon and the beach and many families were looking to buy into the area looking for the beach lifestyle.
The North Narrabeen house was one of 44 properties offered at auction over the weekend.
The northern beaches notched up the highest auction clearance rate of the city at 89 per cent with 22 properties selling early, 17 selling on the day and only five passed in or withdrawn.
The auction clearance rate for Sydney over the weekend was 71 per cent.
"Source: The Manly Daily" Written by: Kathryn Welling