Orthopaedic surgeon upgrades Woolwich waterfronts: Title Tattle
Orthopaedic surgeon Malcolm Glase has sold his redundant Woolwich riverfront residence, which was initially listed last November.
Its most recent asking price was $4.5 million plus through Matthew Ward of Ward Partners, who’d had $5 million original expectations. No final sale price has been revealed.
Located at the tip of The Point Road, the four-bedroom house comes complete with boat shed and ramp. There is also approval for a pool on the 607-square-metre block.
It last traded for $3.75 million in 2001. Glase is upgrading to a nearby Angelo Street trophy mansion, which he snapped up for $9.2 million after it was listed for mortgagee-in-possession sale.
It was the home sought by the prominent Obeid family in an off-market deal from mobile phone seller Mick Hakim, who’d paid $11,005,000 in 2007.
The Obeid family's purchase hopes were dashed as one of Hakim's creditors deemed the mooted $8.5 million sale as below the market value and threatened proccedings against National Australia Bank, the first mortgagee.
The Glase's Italianate residence acquistion sits on a 2,037 square metre Lane Cove riverfront block with a prized north-easterly aspect.
It had been on the market at $13.5 million sometime before the Obeid deal that never was consumated.
The Mark at Sydney's Central Park
Now, all signs point south for this market. A year ago vacancies were near zero but today they’re approaching 5%. Price growth has stopped and, according to Australian Property Monitors’ price graph, has started to dip below the red line.
Brought to you by: Caydon
Atria Apartments in Hawthorn offers buyers an opportunity to invest in one of Melbourne’s finest suburbs.