Two Sydney retirees hit back $50 million from a developer to sell homes in Rose Bay as a package deal

0

Two Neighbors Team Up To Sell Their Homes As An Epic Package Deal With Stunning Harbor Views – Only To Get $50 Million BACK from a Developer

  • Two Rose Bay Neighbors Join Forces to Sell Adjacent Homes as One Deal
  • Owned by retired professionals Richard Burbridge QC and Kiki Efthimiou
  • The pair turned down a $50 million offer because they thought it was worth a lot more
  • Comes with two swimming pools, tennis court, street facades and the best views in Sydney

Two elderly neighbors in one of Sydney’s most exclusive suburbs, who teamed up to sell their homes in a package deal, have already turned down a dazzling offer from developers.

Retired professionals Richard Burbridge QC and Kiki Efthimiou have been close friends over the four decades living on adjacent properties in Rose Bay in the city’s eastern suburbs.

After years of turning down offers to sell, the couple have listed their homes as one deal, which comes with two swimming pools, a tennis court, two street fronts and the best views in Sydney.

The two adjacent properties at 19 Conway Avenue and 17 Ian Street are likely to be demolished to make way for luxury apartments.

Two retirees have joined forces to sell their adjoining properties in one deal, which comes with two swimming pools and a tennis court

Two retirees have joined forces to sell their adjoining properties in one deal, which comes with two swimming pools and a tennis court

Sotheby’s is listed along with CBRE as the selling brokers for the properties.

Retired lawyer Burridge QC and former Greek importer Efthimiou have already rejected a $50 million bid from an apartment developer.

“They thought it was worth a lot more,” Sotheby’s director Michael Pallier told the Daily Mail Australia.

Developers have been around the corner for years, but neither has been ready to sell until now.

“They got together recently and realized that two heads were better than one.

“Both are now quite elderly and want to tidy up their affairs now instead of leaving it to their families later.”

The houses in the two locations are expected to be demolished to make way for units

The houses in the two locations are expected to be demolished to make way for units

The houses in the two locations are expected to be demolished to make way for units

Retired professionals Richard Burbridge QC and Kiki Efthimiou have already turned down a $50 million offer, assuming their property was worth much more

Retired professionals Richard Burbridge QC and Kiki Efthimiou have already turned down a $50 million offer, assuming their property was worth much more

Retired professionals Richard Burbridge QC and Kiki Efthimiou have already turned down a $50 million offer, believing their properties were worth much more

Hailed as the best location in Sydney, the properties have stunning views of Sydney Harbor and are a short walk from Rose Bay Village and the Ferry Wharf.

“I’ve never seen anything so special,” said Mr. Pallier.

‘It has views of the harbour, Sydney Harbor Bridge, Opera House, The Star and the city skyline. It definitely has the wow factor.’

The much anticipated period of expression of interest will go online this Friday and is expected to last five weeks.

The residences have stunning views of Sydney Harbor and the city skyline (pictured)

The residences have stunning views of Sydney Harbor and the city skyline (pictured)

The residences have stunning views of Sydney Harbor and the city skyline (pictured)

“We have already had a lot of interest,” said Mr Pallier.

His colleague Francis Egan told the Wentworth Courier, “You could build a palace.”

Records show that in 1974 Mr Efthimiou and his wife Froso bought their 1,279 sq ft property at 17 Ian Street for $140,000.

Mr. Burbridge QC purchased the 1,215 sq ft block at 19 Conway Avenue seven years later for $3.03 million.

Kiki Efthimiou brought his property in Rose Bay (pictured) in 1974 for $140,000

Kiki Efthimiou brought his property in Rose Bay (pictured) in 1974 for $140,000

Kiki Efthimiou brought his property in Rose Bay (pictured) in 1974 for $140,000

Advertisement

.