Nicholas Armstrong-Smith of Century 21 Armstrong-Smith has sold a one-bedroom unit at 5/30 Hewlett Street, Bronte, for $1,035,000 at auction — after convincing the vendor to vacate the tenants and refresh a property offered for the first time in 37 years.
The result demonstrates how preparation can unlock value even in a softer market. By investing in paint, carpet and styling to showcase the unit’s north-facing aspect and quality building, Nicholas created competition that pushed the price well over reserve despite the compact floor plan.
From tired rental to auction standout
The vendor had owned the property since 1988, purchasing it for $72,500 and initially living there before it became a long-term rental managed by Nicholas’s wife Shona. When it came time to sell, Nicholas recommended vacating the tenants and refreshing the presentation.
“We asked the tenants to vacate, and the owner gave us permission to tart the property up a little bit, so to put new paint, carpet, and lights in, and some great styling furniture,” Nicholas said.
The property presented well and showcased the unit’s standout features: north-facing sunshine, a small boutique block, double glazing, lock up garage and storeroom and quality neighbours in a sought-after location.
The decision proved crucial. Early interest came from current owners in the building, but the owners held firm on taking it to auction to test the full market.
Interstate vendors watch buyers fight it out from $950,000
The on-site auction on a sunny August day attracted three registered bidders and a crowd of spectators. Two buyers competed strongly from $950,000 to the final $1,035,000 result.
The vendors, who had travelled from interstate for the auction, were visibly moved.
“There was certainly a tear in their eye when they saw the property go so well over the reserve price,” Nicholas said.
“They’re really happy for the purchaser that purchased it, and really hope that she will enjoy the apartment as much as the old owner did.”
The new owner plans to occupy the property — drawn by the same north-facing sunshine and quality building that had kept the previous owner there for nearly four decades.
A standout result in a soft market
Nicholas describes the result as “a standout sale” in a generally soft market, attributing it to the building’s fundamentals: a small block with terrific parking and location.
“Presentation matters, and the right preparation can create genuine competition even for compact apartments in challenging conditions,” he said.
The vendor’s testimonial captured the experience:
“I found Nicholas’s knowledge of the market trustworthy, reliable, and very informative. You achieved an outstanding result for the sale of my property.”
About the agent
Nicholas Armstrong-Smith has more than two decades in real estate and leads Century 21 Armstrong-Smith in Sydney’s Eastern Suburbs alongside his wife Shona. A six-time Century 21 Centurion Award winner, placing him among the top 2 per cent of agents worldwide, Nicholas is a licensed estate agent, auctioneer and Justice of the Peace known for clear communication and first-class service. Visit Nicholas’s website for more information or call Nicholas on 0419 273 703.