A HERITAGE-LISTED house in Killara fetched $5.26 million at auction on Saturday — the highest declared sale across Sydney on the weekend.
The late Victorian, early Federation property at 4 Stanhope Rd has been the four-year home of David Whiteing, Commonwealth Bank of Australia’s chief information officer, and his wife Penelope Graham, deputy chair of Sydney Motorway Corporation. She is also an independent director of Sydney Light Rail.
Built circa 1890, the house last sold for $3.722 million in 2013, ballooning a massive $1.538 million in four years, CoreLogic records show.
The five-bedroom house on 1657 sqm sold at its reserve price to Seal Fan, an Australian-Chinese furniture designer from Chipping Norton, who will be moving in with his wife and three children.
The 36-year-old said the local schools was what drove him to move to Killara, as his daughter will be starting high school in the area next year.
Mr Fan was aware of the property’s heritage listing before buying, but said it wasn’t an issue to him as the home had been renovated fairly recently.
“I like the traditional, classic look (of the home); in that area, there are many properties you can’t knock down.”
Mr Fan added that he was happy with his purchase, and plans to change the furniture as well as make several minor improvements to the home.
The listing received two other offers pre-auction, but the buyers failed to get their financing ready in time.
McGrath Lane Cove Listing agent Brent Courtney, who sold the property with McGrath Lindfield’s Sarah Davis, said although there were restrictions on heritage-listed properties, the large block sizes that come attached with these homes were attracting plenty of buyers.
“There’s a huge demand for beautifully presented big properties in the area,” he said.
“If we had more of those properties, we would sell them.”
Mr Courtney noted the prestige category is the strongest part of the market in the north shore areas he worked in.
Originally published as CBA boss’ home sold for $5.26m