Bellevue Hill house

House sells for $12.2m, doubling in value in two years with no improvements

PHOTO: 20 Bulkara Rd, Bellevue Hill

A Bellevue Hill house sold at an “aggressive” auction for $12.2m last night, exactly double the $6.1m it sold for just two years ago. And the owners did no renovations.

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The five-bedroom home, built in 1964 on a 770 sqm block at 20 Bulkara Rd, Bellevue Hill, was listed with the Sotheby’s principal Michael Pallier with an $8.5m price guide.

At the online auction, auctioneer Jake Moore of Cooley’s had 12 registered bidders, with five of them active.

The opening bid was $9m — and it was ‘on the market’ from then on.

But it was sold with architectural plans for a third floor that would have offer views of the Harbour Bridge.

Known as ‘Highlife on the Hill’, those keen were obviously won over by the potential of the property in the extraordinary, booming property market.

The bids jumped in a range of $100,000 and $200,000 increments, with four $50,000s before Moore slammed down the gavel.

“It was aggressive, very aggressive,” Moore said.

“I’m speechless … these buyers paid $6.1m two years ago and it’s doubled in value.”

The property had beautiful views to Bondi Junction and the city, but no water views.

The home is built on a 770 sqm block.

The home is built on a 770 sqm block.