120 Lancaster Ave, Melrose Park will go to auction later this month.
Sydney’s inflated property prices may make a positive difference for a change.
The proceeds from the September 19 auction of a five-bedroom house on a coveted 855sqm block near the Parramatta River will be going to cancer research.
The late owner Ian Hemming decided to give the home in Melrose Park away as his dying wish and the hope is that the frantic bidding normally associated with Sydney auctions goes to a good cause.
Mr Hemming pledged the money should go to ovarian cancer research. He was reported to have made the decision after finding out it was one of the least funded fields of cancer research.
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There is a price guide of $1.5m for the home on Lancaster Ave but the large block size and rare location on a popular strip could attract a mix of buyers and it may go for higher if the right buyer comes along.
Recent sales in the area have ranged from about $1.5m-$1.75m.
The property is in a coveted position near the water.
Mr Hemming enlisted the help of his neighbour Ros Scott to oversee the sale. She said she didn’t realise until after his death that he planned to donate the entire proceeds to ovarian cancer research.
“He was a really humble, kind-hearted man, and wanted to make a difference,” Ms Scott said.
“When (his) dad passed away some years ago, Ian started talking about what he might do with the house and said he wanted to do something positive … I didn’t know for sure he would donate the whole amount.”
Selling agent Neil Robson of Ray White-Gladesville said it was one auction where the buyers may not mind as much if it sells for a motser.
“Buyers will still come with their usual budgets and I don’t think anyone will want to pay more than they have to but I think people will be a bit more understanding this time,” he said.
Mr Robson said he appreciated the gesture as his mother died from ovarian cancer several years ago.
“This is a great opportunity for me to honour her and do something to give back that raises awareness and funds for ovarian cancer,” Mr Robson.
“It’s a big responsibility and I’m conscious of ensuring that we do the right thing and make sure we can get as much as we can for the charity.”
The late owner Ian Hemming wanted to make a positive difference.
The auction will come on the heels of another charitable real estate transaction in the region.
The owners of an Epping home decided to list their property for auction without a reserve in the hope it would sell for less. The move backfired with the home selling for about $300,000 more than expected so the family made a sizeable charity donation with the money instead.
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