An empty block of land in the northwest Sydney suburb of Bella Vista has broken the suburb record for highest price for a vacant block of land.
Nestled in the highly sought after enclaves within the Hills District, the 803 sqm lot located at 28 Brighton Drive sold for $2.83m – beating out the previous record of $2.7m set in November last year.
Brought to market by Century 21 agents Rafi Younes and Martin Baldacchino, the block offers a wide 27m frontage and a north-easterly front aspect.
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Speaking to The Daily Telegraph, Director and Auctioneer of Benson Auctions Stu Benson said that there were four registered bidders for the block, with only one actively bidding.
According to Mr Benson, the vendor expected the property to eclipse the $2.8m mark and the successful buyer increased their offer to $2.825m or risk “taking it or leaving it”.
“The reserve was set at $2.9m as a bit of a ‘safety blanket’ in case bidding stopped and they needed room to negotiate,” Mr Benson said.
“That strategy allowed us to increase the bidding another $30,000 so it ultimately paid off.”
Mr Benson said the successful buyer was a local businessman who aimed to build a custom home and move in to be closer to both his work and the family friends who live in the house next door.
The vacant block of land provided buyers with a rare opportunity to make their own masterpiece and is a short stroll away from parkways and the lake, in addition to having easy access to the M2, M7 and Norwest Business Park.
It was one of the few blocks remaining in the Bella Vista Waters area, which has been highly sought after by buyers ready to make big transactions at auction.
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