The sale of a Coogee apartment has seen almost $2m raised for charity in the execution of an Aussie battler’s selfless will.
The unit at 4 Major St, Coogee sold for $1.93m, achieving a price $330,000 over reserve.
The home belonged to Charles Robinson, a man of Catholic faith who was educated by The Congregation of Christian Brothers – now known as the Edmund Rice Foundation.
The auction’s proceeds were left to the Edmund Rice Foundation, as well as The Little Sisters of the Poor and The Little Kings Movement For The Handicapped.
4 Major St, Coogee. Picture: Sam Ruttyn
Andrew Moore, Mr Robinson’s great nephew and the executor of the sale, said “everything that he ever had is going to charity”, including both the home and an approximately $1.5m share portfolio.
Mr Moore said the entire family supported the decision of Mr Robinson – who never married or had children – to leave his entire estate to charitable causes.
Mr Moore said his great uncle was an avid Church goer who “really valued education” and wanted to give back to the institutions that were meaningful to him.
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Ten bidders were registered for the auction. Picture: Sam Ruttyn
Mr Robinson spent much of his life as the company secretary for the iconic Aussie tea brand Bushells, up until his retirement.
Mr Moore said his uncle “very much loved that company” and always enjoyed a cup of tea.
“He even used to have a number plate with T-E-A on it,” Mr Moore said.
Mr Robinson’s former home was sold to an investor, according to listing agent Angus Gorrie of Ray White Eastern Beaches.
The new owner plans to renovate the home – still in its original condition from the 1960s – and rent it out.
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The home was still in original condition from the 1960s. Picture: Sam Ruttyn
The property’s location, directly opposite Dunningham Park and moments from Gordons Bay and Coogee Beach, was major lifestyle drawcard for buyers.
Mr Gorrie said over 80 groups of buyers had inspected the property over the last 3 weeks.
“It’s been very well received, especially given the condition of the unit,” he said.
“It just shows that people are prepared to do the work and factor that into the price.”
Ten bidders were registered for the auction, with five being active.
According to Mr Gorrie, February’s interest rate rise “hasn’t really dampened buyers”.
Ray White auctioneer James Hayashi said while there was “some nervousness around rates going up”, people were now “finding their feet in the market”.
“Now, there’s a lot of stock on the market,” he said.
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Auctioneer James Hiyashi said the home’s sale was a “great result”. Picture: Sam Ruttyn
On the auction at Major St, Mr Hayashi said the unit was positioned in “arguably one of the best spots in the area”.
“I walked in going, ‘this is great real estate’,” he said.
“I think it was a great result.”
Despite its condition, the apartment sold considerably above Coogee’s current median unit price of $1.51m.
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219 Bourke St, Darlinghurst
Across Sydney, this week saw 1,084 auctions scheduled, up 11 per cent year-on-year.
The most viewed residential listing on realestate.com.au going to auction this week was 219 Bourke St, Darlinghurst, which sold for $2.73m.
Five of seven registered bidders battled it out for the renovated 1980s terrace, which has a private rooftop offering views of the city.
The home sold above reserve, exemplifying Darlinghurst’s strong house price growth over the last 12 months which has seen house prices rise 16.3 per cent.
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22 Stuart St, Ryde
Further north a battle between developers unfolded over a family cottage in Ryde, which was being eyed for its duplex potential.
The three-bedroom home at 22 Stuart St sold for $3.525m, claiming $250,000 over reserve.
Nine bidders were registered for the auction, with four being active.
All interest in the property came from developers and builders.
Robert Bagala of McGrath Ryde said the sale was purely based on land value, as the area was “hot for duplex sites”.
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