Doctor’s $10.4M Auction Gift Leaves Lasting Legacy
A recent house auction in Sydney has generated over $10 million for a children’s education charity. This generous donation was made in memory of the esteemed Dr. Karen Duggan, a beloved physician renowned for her philanthropic contributions. The property, a five-bedroom residence located at 9 Surfside Avenue in Clovelly, sold for a remarkable $10.425 million on Valentine’s Day.
Dr. Karen Duggan’s Lasting Legacy
Dr. Duggan, a distinguished cardiovascular physician and researcher, inherited the property from her parents, Andy and Jess. In her will, she designated the proceeds from the sale to The Smith Family, an organization committed to aiding disadvantaged youth through educational support.
Details of the Auction
The auction attracted significant interest, featuring eight registered bidders and five active participants vying for the 778 square meter property. Bidding commenced at $8 million, surpassing the initial price guide of $7.75 million, and escalated until reaching the final sale price of $10.425 million.
- Location: 9 Surfside Avenue, Clovelly
- Final Sale Price: $10.425 million
- Property Size: 778 sqm
- Number of Bidders: 8
- Initial Bid: $8 million
Community Impact of the Sale
Doug Taylor, CEO of The Smith Family, expressed the sale’s immense impact, stating it would support nearly 1,300 students over the next five years. Taylor emphasized the significance of Dr. Duggan’s legacy and its potential to benefit future generations.
Listing agents Alexander Phillips and Thomas Fuller from PPD Real Estate also contributed to the cause by donating their commissions. They highlighted Dr. Duggan’s influence and the location’s desirability, noting that properties like this one are rare, especially with direct access to Clovelly Beach.
A Unique Property
Clovelly is a sought-after beachside neighborhood located approximately eight kilometers southeast of Sydney’s city center. The area has experienced a significant increase in property values, with median house prices rising by 24.3% to $5.785 million in the past year. Dr. Duggan’s residence features a newly renovated two-bedroom apartment and is one of the limited properties with direct beach access.
Dr. Duggan, who passed away two years ago, had a revered career as a nephrologist and a cardiovascular expert. She served as an Associate Professor of Medicine at the University of NSW from 1995 to 2008 and co-founded Vectus Biosystems, focusing on innovative treatments for serious health issues.
The Smith Family is dedicated to providing resources for educational needs such as school uniforms, books, and technology for children in need, ensuring that Dr. Duggan’s legacy of philanthropy continues to make a positive impact on young lives.
