Record breaker

Property with Jonathon Chancellor

Concord hits new heights with a new suburb record for this seven bedroom mansion…

A three storey, seven bedroom Concord mansion, with a very long lap pool, set a record price for the Sydney suburb this July.

No. 11 Ludgate Street, Concord was sold for $2.79  million, some $90,000 above the $2.7 million reserve, through listing agent Joseph Georges from Georges Ellis & Co.

Bidding opened at $2.3 million with a crowd of 10 registered bidders amid the 150 people at the 1.30pm auction. It eventually sold to a local family. The agents had been initially advising $2.45 million plus and the 700 square metre block had cost $1,305,000 in 2010 for the owner builder.

Ludgate Street in Concord had another sale on the very same weekend with No.13 selling later Saturday afternoon for $2.28 million, but it’s sale was marked down by most to the successful piggybacking of the neighbouring auction.

The Sidney Koh-designed house had been for sale since June last year, with an auction sign posted soon after number 11’s went up. Property Observer gleans the Concord record was for the five-bedroom home at 7 Links Avenue at $2.61 million last November.

• For more property news go to www.propertyobserver.com.au