The lounge room.
The lounge room.

Room with a $2.15m view

THERE wouldn’t be too many properties in the Clarence that start an auction at $1.5 million.

Nor would many finish at $2.15 million for that matter.

The crowded living area of Ribadeo fell silent as the auctioneer called for first bids on the ‘magnificent property’ that overlooks Convent Beach.

About 70 groups of people had been through the property and five hadregistered with serious interest in the tightly held Ocean Streetaddress.

But not a peep came from the room, all eyes averting those of thespruiker, who threatened to ‘pick on’ someone if a bid was not made.

The auction yesterday on-site was over in a heartbeat.

The buyer, not present, made his $2.15 million purchase over the phone from Melbourne.

“It’s a really good price for today’s market,” Elders marketingmanager Sarah Harvey said, indicating that neither the buyer nor sellerwalked away with a ‘steal’.

The owners Marion and Alan Grundy were very happy with the outcomebut no doubt sad to see the holiday home go. They had built it 26 yearsago from a design by then Grafton architect Tim Shellshear.

The vendors had the option of splitting the sale of the propertythat consisted of two strata titles; a three-bedroom main property witha spacious two-bedroom property that adjoined downstairs.

Ocean Street, along with the north end of Pilot Street and ClarenceStreet, are regarded as Yamba’s ‘top end’ real estate sites, where landvalue can in many cases exceed that of the residences that occupy them.

The sale of whole houses like Ribadeo in Ocean Street was a raritywith most properties split into several units. The last whole house(under two separate titles) sold in the street by Elders was Shadows four years ago, fetching $3.1 million, with On the Rocks sold by Ray White, holding the record sale price for the street at $5.6 million in 2007.


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