Posted June 03, 2018 05:31:07 A “massive” house sale in Sydney could spark bids for property in the state’s north.
Key points:A house in the south of the state sold for $3.1 million in the last weekThe Sydney property has a house value of more than $4 millionA Sydney house has a home value of about $3 millionThe sale of a house is one of several properties under investigation by the NSW Land and Property Services Department (LPSD) after a number of property buyers were found to have bought the properties without being registered.
The property, on the corner of Waimate Street and Marlborough Street, sold for a total of $3,054,000 in the past week, and the house is currently listed for $6,099,000.
The buyer of the house was a Chinese company, and had not been registered with the LPSD, which has been looking into other properties under the same name in Sydney and in the north-east.
“They’ve got two properties, they’ve got one property in Sydney, one in the outer suburbs, and one in a community,” LPSS Commissioner Tony McCarroll told ABC Local Radio.
“I think it’s a huge, massive property and it’s probably a big part of the reason why we’re investigating the properties.”
Mr McCarrol said he was unaware of any other similar properties in Sydney.
“This is a property that’s been in the city for quite some time,” he said.
“We have not been able to establish the owners and we have not identified the person who owns the property.”
Mr O’Connell said the sale of the property was not a random transaction.
“It’s very unusual that someone would have bought that property without being able to register,” he told ABC Radio.
“If you look at the data, it’s almost certain that if you register for a property, then you’re required to register with the land and land office, and that’s why we’ve been investigating it.”
What we’re doing is we’re looking at the properties and we’re taking all the available information and we are doing the right thing and the right assessment to identify the owner.
“The buyer is not believed to be the owner of the properties in the NSW south, but he may have had a second buyer who bought the property.”
As you may have heard, there’s a property in Newcastle called Waimati,” Mr O’Connor said.
It is located in the Newcastle region of NSW, about 40 kilometres north-west of Wairoa.
This property has an assessed value of $1.4 million.
Mr O’tonsmith said the buyer of that property had not registered with LPSE, so there was no information available about the property’s owner.”
At this stage, we don’t have any information on that person’s identity,” he added.
The NSW Land Services Department said the properties under scrutiny had been reported to the NSW Civil and Administrative Tribunal and the LHSD was in the process of conducting an investigation.”LPSS is investigating this matter to identify a possible breach of the Land and Land Office’s (LPL) land registration requirements,” the LFSD said in a statement.”
Any information obtained will be passed on to the LPL for further investigation.