'Bunker House' sets new $5m record for Stanwell Park

The much-anticipated auction of “The Bunker House” right on the beach at Stanwell Park sold at auction on the weekend.

The price achieved $5,000,000 sets a new record for Stanwell Park. The previous record was $3,775,000 for 107b The Drive, which sold in August 2021.

There were plenty of registered bidders in attendance at the auction of 31 Stanwell Avenue on Saturday, 3 September, however, only half a dozen actually bid. Clearly some buyers thought the market for this type of property should have declined as bidding commenced below $4m.

Auctioneer Ron Kissell from Ray White Helensburgh had to work hard to solicit the bids, which reached $4.8m before a vendor bid of $5m was made.

The property was passed in at this stage, however, subsequent negotiations concluded the sale with one of the under bidders.

Ian Pepper is an estate agent at Ray White Helensburgh who advertises in the Flame's printed magazine.