An unfinished trophy home with a multi-million-dollar price tag has hit the market on Sydney’s North Shore as part of a forced sale.
Located at 16 Wambool Street, the 1366-square-metre parcel is billed as having “substantial poured footings, concrete formwork, and the skeleton of an in-ground swimming pool”.
The site was previously acquired for $2.6 million before the original residence was demolished to make way for a 400-square-metre grand residence with basement parking.
Ray White Upper North Shore sales agent Nathan Leuzzi said the property was being offered in its current state.
“There is the potential to explore the existing works and incorporate them into a new architectural vision or begin afresh with a completely different design (STCA),” Leuzzi said.
“With a $2 million price guide, the property is drawing unprecedented interest from seasoned builders, developers, and visionaries ready to untangle the red tape or wipe the slate clean.”
Despite the raw state of the site, Leuzzi said buyer appetite had been extraordinary.
“I haven’t had more inquiries on a listing than this,” he said.
“Buyers see the sheer scale of what is already here and immediately want to step in, fix the approvals, and finish the job. If you can navigate the planning pathway, the bones are set for an incredible landmark home with basement parking and a pool.
16 Wambool Street, Turramurra NSW 2074
“Alternatively, someone can spend around $150,000 on demolition and start entirely fresh on an exceptional North Shore landholding.”
The property is set to go under the hammer on 28 November.
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