By Carmen Forward
A developer paid $3.92 million for a block of land in St Ives that they saw for the first time at auction on Saturday.
The 1,075 square metre block at 9 Myrtle Road was guided at $3.3 million and sold for $320,000 above its $3.6 million reserve.
There is no legal requirement for a vendor鈥檚 reserve to be in line with their property鈥檚 price guide.
Considered a knockdown, the property came with a three-bedroom house, but without photos, other than an aerial roof view and a floor plan. It was marketed as a land parcel to build a dream home or redevelop.