Castlecrag house bought for $1.8m in 1994 sells for circa $12m setting new suburb record – Daily News

启运配资炒股10倍 Daily News

Kathryn Welling

News Corp Australia Network

177-199 Edinburgh Rd, Castlecrag has sold ahead of tomorrow’s scheduled auction.

Castlecrag has a new suburb record with the prompt sale a grand old home for about $12m.

The seven-bedroom residence at 197-199 Edinburgh Rd, with tennis court, swimming pool and water views over Sugarloaf Bay, had a guide of $9m-$9.9m and was due to go to auction tomorrow.

However, with 14 contracts out on the property and eager buyers, the property sold early.

Michael Coombs, of Atlas Lower North Shore, said the new owners are locals who are looking forward to renovating the property that had been held in the same family hands for more than 30 years.


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Among the home’s attractions are the swimming pool …

Property records show the home on a 1124 sqm property is owned by the Phoon family, who bought it for $1.8m in 1994.

“People are realising suburbs such as Castlecrag and Northbridge are great family areas and suburb records have fallen in both recently,” Coombs said.

The previous record for Castlecrag was $9.5m for 7 The Tor Walk set in 2020.

The kitchen and casual dining.

According to property sales data, and based on 28 house sales over the past 12 months, the median sales price in Castlecrag is $4,477.500 up 36 per cent in a year.

“I think there is still quite a bit of capital growth in Castlecrag,” Coombs said.

“Mosman is a focus for buyers but more and more they looking at neighbouring suburbs for raising a family.”