Drummoyne waterfront block listed for first time since WWII

A waterfront 1667sqm estate stuck in a time warp on the Parramatta River and with views of the Sydney Harbour Bridge is presenting buyers a once-in-a-lifetime opportunity.

The six-bedroom house at 76B St Georges Cres in Drummoyne is being offered to market for the first time since the middle of World War II in 1942.

It has a $9 million price guide and is described as a unique chance to build a trophy home or redevelop the site into an apartment block.

Sitting on Drummoyne’s best street, the home features a tennis court that has seen better days, a swimming pool and private boat ramp.

Views reaching as far as the Sydney Harbour Bridge.

Roger Mickhail Property director Roger Mickhail says it is the last property in the area to have not been renovated or developed.

“As the last available absolute waterfront block in this section of St Georges Cres, this really is the sale of the century,” he says.

The two-storey property occupied by four generations of the same family is currently configured as two separate houses. The lower level has three bedrooms and dates back to 1946, while upstairs retains much of its 1960s character and has another three bedrooms.

The tennis court requires a few repairs.

The second storey is a 1960s time warp.

The battleaxe block has driveway on title and parking for six cars including a carport and garage. There is also an under house storage area with a wine cellar and provides potential for basement parking.

The northeast facing estate is dwarfed by several surrounding boutique and high rise apartment blocks. This makes it exciting for developers as the R3 median density zoning provides scope for a number of residential offerings up to 9m in height.

Mickhail says interest is not just coming from developers but trophy home hunters from as far as the eastern suburbs.

The property is surrounded by multi-dwelling developments.

“It is a home that brings buyers to Drummoyne who wouldn’t usually look here,” he says.

“There has also been some savvy buyers look to build separate residences on the block.”

Mickhail says the listing comes at a strong time for the prestige market in the inner west, with enquiries through the roof from buyers looking to splash the cash.

“Premium or unique property remains highly sought after in the current market,” he says.

If the estate sells for around the $9 million guide, it would be the fourth most expensive sale ever in Drummoyne, according to CoreLogic. The suburb high of $12.2 million was set in 2017 by 4 Wrights Point.

This article from the Inner West Courier originally appeared as “Drummoyne waterfront blank canvas on the market for first time since World War II”.