On Wednesday night, house, at 4 Guinawe Road, North Bridge, auctioned off for A $4.61 million. (photo by the North Coast Times)
A real estate at North Bridge`s (Northbridge) waterfront was sold at auction for A $4.61 million recently after the real estate was confiscated as part of Australia`s biggest tax fraud plan, the North Coast Times reported.
The house sale price is A $ four hundred and ten thousand higher than the A $4.2 million "land value" guidance price set at the beginning of the auction.
The sale of house in (Coolawin Rd), Guinevere Road, was once the home of criminal Dixon (Anthony James Dickson). Dixon, a former executive at Ernst & Young, an accountant, is serving 14 years in prison for his A $135 million tax evasion program.
Downey (Chris Downie), head of Richardson and Wrench at real estate, said it was a competitive auction with five of the 11 registered bidders taking part.
"every time a famous street house appears in the sales market, it attracts a lot of interest, such as house on Guinavi Road," he said.
Downey said the house is currently unfit for housing, so most buyers at the auction plan to renovate the house.
According to real estate analytics firm CoreLogic, house`s sale price was slightly higher than the A $4.6 million price it bought in February 2005 for the house.
The ownership of the four-bedroom house was handed over to the Australian Federation in August 2016 after Dixon filed an appeal to prevent the confiscation of house, when house was in his wife`s name, but he lost, according to records.
"there are only a few waterfront house in the area, and this house is just like you`re sitting on the water," Downey said. (Cheng Pui-Yan)
