Mona Vale beach shack sells for $4.5 million at auction

A three-bedroom weatherboard cottage in Mona Vale, located at 78 Surfview Road, was sold at auction for $4.5 million on Saturday. The buyer, a former tenant whose parents once rented the property, purchased the home to preserve its character after it faced potential redevelopment.

The auction drew interest from a local family and a developer from western Sydney, both of whom were interested in rebuilding on the coastal site. While the vendors initially held a reserve of $4.85 million, they agreed to adjust it, allowing the property to sell at the guide price.

The sale occurred amidst a broader Sydney auction week where 845 properties were scheduled. Domain reported a preliminary auction clearance rate of 52 per cent from 501 results, with 154 auctions being withdrawn.