A forward-thinking father paid $1.1 million at auction on Saturday for an art deco apartment in Stanmore for his 14-year-old daughter, outbidding first home buyers from the inner west.

The two-bedroom, top-floor unit at 4/215-217 Stanmore Road was guided at $875,000 and had a reserve of $950,000. There is no legal requirement for a vendor’s reserve to be in line with their property’s price guide.

The unit is in a block of four and has a north-facing balcony. Interior features include timber floorboards, double-glazed sash windows and whitewashed walls.

Of nine registered bidders, five took part. Bidding opened at $900,000 and rose in varying increments until $1.1 million. The buyer, a dad from Dulwich Hill, placed one bid of $1.1 million, securing the property for his daughter.

The p

See Full Page