This house at 1 Dickson Tce, Hamilton has just sold for $7.5m
Property developer and former hairdresser, Anthony Barakat, who sold his luxury Hamilton pad in 2012 for $5m only to buy it back five years later for $250,000 more, has sold it again, this time for $7.5m.
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The in-ground swimming pool at 1 Dickson Tce, Hamilton.
The six-bedroom home at 1 Dickson Tce, Hamilton sold at auction on Thursday night, with Damon Warat of Ray White Ascot fielding enquiries from Australian and foreign parties, and five bidders taking part in the auction.
The home has spectacular city, river and mountain views.
CoreLogic property records show Mr Barakat had been trying to sell the home for the best part of two years but the most recent campaign capitalised on the strong prestige property market, attracting 70 home inspections over three weeks.
A file photo from 2010 of Marcelle Barakat, Anthony Barakat, and Terrie Barakat from a social event.
“It’s been the best house for us but our children are all growing up and the time is right for us to sell. It took us more than 18 months to build our dream home totally from scratch,” Mr Barakat said in a statement when he put the home on the market in February 2019.
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“The new owners are a local family who were looking for land and were able to see themselves living here.
“Building prices have gone through the roof and not just prices but access to trades and products so there’s uncertainty at the moment.”
No expense has been spared with the home.
Ray White auctioneer Phil Parker accepted a starting bid of $5m with three buyers active at that price. The auction stalled at $7.45m with Mr Warat negotiating an increased bid to $7.5m with the lead bidder.
The main living area of the three-level house.
The property was announced on the market at that price and sold unchallenged.
“It did look like another bidder was going to have another go, but in the end we have two underbidders who are very disappointed. One was local and the other had relocated from interstate.”
Mr Warat said he fielded 15 buyers in the market for a home above $5m during the campaign.
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