The auction of the 4 houses in Tasman Street Bondi was conducted on Tuesday 19 March 2013 with the following results.
The properties were sold with approved plans for a second floor addition. All properties had underground rain water tanks and solar panels.
Sale prices 19 March 2013.JPG [ 35.11 KiB | Viewed 2062 times ]
For comparison, 2 Tasman Street Bondi was sold in September 2011 for $1.32 million so the sale of 10 Tasman Street Bondi for $1.37m, after a significant renovation complete with furniture, would appear that someone got a bargain.
The 4 houses were purchased by Watercress Productions for more than $4.4 million plus stamp duty in March 2012 and then had something like $900,000 of renovations carried out by the contestants and production team, plus $915,000 in prize money to the contestants, would be an overall cost to Watercress Production of about $6.48m.
From a property investment point of view, with a final sale price of $6.265m for the 4 houses it would mean that Watercress Productions has done much better than in prior series of this TV program when they have been more than $1m out of the money.