$10.7 million Darling Point auction tops weekly apartment sales list

A $10.71 million sale of a Darling Point apartment topped the week's sales. It was a four bedrom, two bathroom apartment consolidation at 708 & 709/87-97 Yarranabbe Road. The opening bid for the seventh floor offering was $7,500,000 with 48 subsequent bids from four bidders. There were just the two bidders from around $10.4 million. The apartment size had 260sqm space plus two car spaces in Yarranabbe Gardens. It was offered to the market for the first time in over 27 years through BradfieldCleary. Buyers agent Rodney McLoughlin at TBAS® Buyers Agents noted the auction outcome reflected $43,714 price per square metre. Some 77 apartments make up Yarranabbe Gardens, one of Sydney’s premiere modernist apartment blocks following its design by Hugo Stossel in 1958. The design is organised around two monolithic east and west apartment wings all with harbour views, with original entry via a narrow bridge across a 6-storey void from a large carpark at street level. In 2018 Andrew Donaldson Architecture & Design (ADAD) was engaged to transform the entry and beautify the extensive street presence. The next priciest apartment sale across Sydney last week was $5.25 million at Abbotsford. The 6/3 Harbourview Crescent waterfront apartment came with 391sqm space including two car garaging in a security building with just six apartments. CoreLogic put the Sydney apartment clearance rate at 60 percent from 358 results. The national apartment success rate was 58 percent from 749 results.