10 buyers sought $5.1 million Coogee hillside home
The veteran film producer Glenys Rowe sold her longtime Coogee bolthole for a bullish $5.1 million at weekend auction.
Rowe produced the late 1980s cult film Dogs in Space, as well as God's Girls: Stories from an Australian Convent, Idiot Box and Feeling Sexy.
There were 10 registered bidders who took the sale well past its $4.3 million reserve.
Auctioneer Damien Cooley took bids from half its interested parties.
She had bought the hillside Beach St property for $790,000 in 1994.
The four-bedroom home with ocean views has been an investment in recent years since Rowe has settled in Adelaide.
Ballard Property agent James Ball had an initial $4 million guide then raised this to $4.2 million, when they brought forward the auction by a week given the heightened level of buyer interest.
Realestate.com.au calculates Coogee’s median house price sits at $2.46 million, based on just 32 sales over the past year, according to realestate.com.au.
Based on five years of sales, Coogee has seen a compound price growth rate of 6.7 percent for houses. Some years have seen 60 house sales.
This article was first published in the Daily Telegraph.
