The iconic Olympic trophy on the harbourfront’s ‘best street’ is set for auction

A luxury waterfront sub-penthouse in a property so firmly held that it is the first to be resold is set to go under the hammer, as its high-profile owner heads north with his Olympic commitments.

One of just seven in the complex, the four-bedroom unit in Drummoyne’s prestigious Crescent has a platform on Sydney Harbour, offering golden section views over the never-to-be-built Cockatoo and Snapper Islands.

Its owner, former Australian Olympic Committee (AOC) president John Coates AC – who moved to Queensland in preparation for the 2032 Olympics – told realestate.com.au he would miss the place.

“My connection with the Drummoyne waterfront goes back more than 50 years to my schoolboy days rowing from Leichhardt Rowing Club in Iron Cove and Sydney Rowing Club on the Parramatta River,” Mr Coates said.

John Coates is the longest-serving president of the Australian Olympic Committee (AOC) and former vice-president of the International Olympic Committee (IOC). Photo: Getty

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“But for me life entered another chapter when I got the 2032 Paralympic and Olympic Games for Brisbane and the responsibility to deliver them as a member of the Olympic Organizing Committee of the Games, like Sydney 2000.

“I needed to live close to the game areas so my wife Orieta and I bought and moved to Burleigh Heads in south-east Queensland.”

Unforgettable views capture Sydney’s iconic Cockatoo and Snapper Islands. Photo: realestate.com.au

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Bought off plan in 2010, it is the only apartment in the area to be sold as the building was completed in 2011.

Selling agent Jack Hughes of Ray White said it was an indication of the quality of the property.

“Nothing in the building has ever been sold before; everyone bought it off-plan or when it was first built,” said Mr Hughes, noting that the unit has improved significantly since closing off the side porch, creating a dedicated study area and formal indoor dining.

“St Georges Crescent is the best street in Drummoyne. It’s where everyone wants to be.”

The main entertainment area has a dedicated restaurant with views of Centrepoint Tower. Photo: realestate.com.au

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With a living area of ​​239sqm and two parking spaces, Mr Hughes said the interior size of the flat was “unparalleled”.

“I would say it’s one of the biggest units on the street,” he said.

“The size is very rare, and the location is rare. So the combination of these two will create interest.”

The home sits on the best road in Drummoyne. Photo: realestate.com.au

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Located 200m from Birkenhead Point shopping centre. Photo: realcommercial.com.au

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With proportions such as four bedrooms, two bathrooms and a separate home office, it is a rare opportunity for buyers looking for low-maintenance living within easy reach of shops and amenities.

“It’s 200m from Birkenhead Point,” said Mr Hughes, “and there’s a ferry at the end of the road, there’s a bus at the top of the road, all within a five to 10 minute walk.

“A typical family home in Drummoyne might turn up every month, but something like this is really rare; you might see one or two a year, if that.”

The master suite features a luxurious ensuite and walk-in closet. Photo: realestate.com.au

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He expects strong interest from downsizers and professionals from the big houses in the near west and north coast suburbs.

The home offers lift access and secure underground parking.

Its long list of impressive features includes a library with custom fittings, a state-of-the-art entertainer’s kitchen with marble benchtops and Miele appliances, and a dedicated dining area with views of Sydney’s Centrepoint Tower.

6/6 St Georges Crescent will go to auction on Saturday 28 February with a guide price of $5.7m.