{"id":38495,"date":"2022-05-09T09:04:16","date_gmt":"2022-05-08T21:04:16","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=38495"},"modified":"2022-05-09T09:04:16","modified_gmt":"2022-05-08T21:04:16","slug":"top-agents-savvy-purchase-in-best-street-in-australia","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/top-agents-savvy-purchase-in-best-street-in-australia\/","title":{"rendered":"Top agent\u2019s savvy purchase in \u2018best street in Australia"},"content":{"rendered":"

PHOTO: Alexander Phillips<\/strong><\/p>\n

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Leading agent Alexander Phillips snapped up his third property in Coolong Rd, Vaucluse<\/a>, at a controversial auction on Saturday, beating an indecisive underbidder.<\/p>\n<\/div>\n

Phillips had bid $6.65m and the auctioneer, David Medina, had slammed down the gavel as his main opponent, with a mask over his mouth and standing well behind Phillips, yelled out: \u201c$6.7m.\u201d<\/p>\n

\"Vaucluse<\/a><\/div>\n
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Vaucluse home now Australia\u2019s sixth most expensive after $62 million sale<\/a><\/h2>\n<\/header>\n<\/div>\n

But it was too late. He\u2019d already announced \u201cI\u2019m out\u201d to the auctioneer; and the deal for\u00a012 Coolong Rd\u00a0was done. Phillips was shaking hands with both Medina and the sales agent, Sotheby\u2019s principal Michael Pallier.<\/p>\n

\u201cI\u2019m very happy \u2014 you can\u2019t go wrong with Coolong Rd; it\u2019s the best street in Australia!\u201d Phillips told me, as the underbidder and a few others debated the timing of the gavel falling, he raced to sign the contract for the deceased estate of Elizabeth Dodds, a former kindergarten teacher at Cranbrook.<\/p>\n

As is often the case amid talk of the property market cooling, the smart money was out buying. This latest deal means he\u2019s bought more than $23m worth of property in the exclusive street.<\/p>\n

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\"The<\/div>\n

The charming facade of the 1920s semi.<\/strong><\/em><\/div>\n

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\"An<\/div>\n

An aerial view of the property.<\/strong><\/em><\/div>\n

Phillips, the PPD Real Estate principal, who has plans before council for an $8m rebuild of his $11.1m mansion up the street, was probably always going to be Saturday\u2019s buyer of the charming 1920s three-bedroom semi with wraparound balcony at No.12 Coolong Rd, with his wife, Brighid.<\/p>\n

He\u2019d already bought No.10 Coolong Rd for $5.5m in September, 2020.<\/p>\n

Prices have moved on since then and Phillips reckoned he\u2019d got a good deal on Saturday. \u201cI think I paid too much back then,\u201d he laughed. \u201cThis one evens it out!\u201d<\/p>\n

Pallier had four registered bidders with three active.<\/p>\n

Medina had declared the property on the market at $6.2m, so it looks to have gone well over the reserve.<\/p>\n

Phillips had made the opening bid of $4m, which Medina jokingly declared \u201cvery ambitious\u201d and that he\u2019d need to take out two of the three bedrooms and the parking at that price.<\/p>\n

But then Phillips let it play out between the other parties \u2014 with the underbidder offering $4.025m and a bidder on the phone from London upping it to $5m.<\/p>\n

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\"The<\/div>\n

The front balcony.<\/strong><\/em><\/div>\n

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\"The<\/div>\n

The dining room opens through glass doors to the back yard.<\/strong><\/em><\/div>\n

The underbidder offered $5.05m; the London bidder countered with $5.5m; the underbidder came back with $5.6m and called on the auctioneer to knock it down to him now saying: \u201cI\u2019ve gotta go \u2014 where are the keys?\u201d<\/p>\n

The London phone bidder came back with $5.7m to which the underbidder said: \u201cThat scares me \u2014 $5.8m \u2014 come on! [meaning he wanted the auctioneer to sell it to him at that price].\u201d<\/p>\n

The London bidder offered $6m; the underbidder said $6.1m; the London bidder came back with $6.15m and the underbidder replied with $6.2m.<\/p>\n

Once it was \u201con the market\u201d, Phillips was back in the game, offering $6.4m.<\/p>\n

READ MORE VIA NEWS.COM.AU<\/a><\/p>\n

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