SYDNEY LUXURY HOME LISTED WITH A CHEEKY $1 RESERVE
An opulent Ryde home, packed with cinema, pool, sauna and more, is hitting the auction block with a $1 reserve.
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In a move that is equal parts audacious and inspired, luxury real estate group Black Diamondz has listed a newly completed five-bedroom mansion in Ryde with a reserve price of $1.
The property at 26 Clermont Avenue is anything but bargain basement – featuring four lavish levels, a concrete structure, a private cinema, a mineral lap pool, a wine cellar, a sauna and even lift access.
Meanwhile, Ryde’s median house price is hovering around $2.5 million.
“This is not just another house. It’s a showpiece,” says Monika Tu, founder of Black Diamondz. “We’re not asking the market to guess its worth; we’re inviting it to experience it.”
Spicing things up further, the sales campaign doubles as a philanthropic effort.
Tu, along with agents Courtney Wong and Blake Morris, is using the high‑profile auction to raise awareness (and funds) for the Children’s Cancer Institute as part of the 2025 Dare to Cure challenge.
“We believe in creating value beyond the transaction,” says Tu. “Shining a light on the Children’s Cancer Institute turns luxury into legacy.”
Property Highlights
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Five bedrooms, four bathrooms, three en-suites
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Private cinema, sauna, gym and wine cellar
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Gourmet kitchen with Miele appliances and butler’s pantry
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Tundra limestone, Venetian plaster finishes, mineral lap pool
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Quiet street near top schools, parks and Top Ryde Shopping Centre
Whether the $1 reserve is a marketing masterstroke or the future of auction theatrics, one thing’s sure: this isn’t your average Ryde listing.
Bidding starts with a gold coin. Final sale price? That’s anyone’s guess.
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Abadeen, the Lower North Shore’s most active and prominent residential developer, together with investment partner Phoenix Property Investors, has lodged a State Significant Development Application to transform the former Honeysuckle Garden and Midas site on Military Road into 100 premium new homes.
With an estimated completed value of $230 million, the proposed development will transform the former Honeysuckle Garden and Midas site into a landmark mixed-use residential community comprising 100 premium residences, activated ground-floor retail and a resort-style rooftop wellness and recreation precinct designed to become one of the Lower North Shore’s most exceptional resident amenities.
The proposal has been carefully designed to respond to the site’s varied street frontages and surrounding neighbourhood. The building comprises predominantly five and nine storeys, steppingdown towards Hale Road to reduce its visual impact, with the tenth level rooftop
wellness facilities rather than residential apartments. This built form remains below the 12-storey outcome identified through Mosman Council’s recently endorsed Masterplan process, demonstrating a considered approach to delivering much-needed housing while respecting the site’s context and neighbouring properties.
Designed by leading Australian practice DKO Architecture, under the direction of Senior Associate Matthew Ritchard, the proposal has been conceived as a contemporary response to Mosman’s unique landscape, history and community.
Occupying a prominent position on Military Road between Cremorne and Mosman villages, the site is close to boutique retail, acclaimed dining, harbour beaches, leading schools and excellent public transport connections. Upper-level residences would enjoy panoramic views stretching north across Middle Harbour, south to the Sydney CBD skyline, east to Balmoral and Sydney Heads, and west across the Lower North Shore.
Abadeen Executive Chairman Justin Brown said the project represented an opportunity to deliver a new generation of homes for Mosman that responded to changing buyer needs while remaining respectful of the suburb’s established character.
“This is one of the most significant sites to come to market on the Lower North Shore in many years,” Brown says.
“The apartments have been designed as genuine long-term homes, with efficient floor plans that maximise usable living areas, generous internal storage, strong natural light and practical connections between internal and external spaces. A diverse range of apartment sizes and configurations provide greater housing choice for individuals, couples, families and local downsizers.
“The focus has been on creating homes that caters for a broad range of buyers, from young professionals purchasing their first home, to couples establishing themselves, growing families and local downsizers who want to remain in Mosman.”
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