A beautiful legacy

Yesterday’s auction in Brunswick was not a regular auction at all.

A charming and well-kept Californian Bungalow dripping in gorgeous ornate timber fretwork inside went under the hammer yesterday. Sadly we didn’t get the keys, but the meaning behind the sale was very special.

The couple who had lovingly owned the house had a strong affinity with the street, and in particular the inner north community. So much so, that they bequeathed their home to a philanthropic charity they loved; Inner North Community Foundation.

The story is so touching, and the outcome is so powerful.

“You don’t have to be Bill Gates to be generous”

Ben Rodgers, Executive Officer

“It shows that a local couple from Brunswick who are passionate about their community can have an enduring impact on the place that they call home”, said Ben.

The property had been marketed for an extended length campaign; and as many pretty three bedroom properties in the inner north are demonstrating, this gorgeous house attracted quite a crowd.

Ben Rodgers, (Executive Officer of the Foundation) made a lovely speech at the commencement of the auction and talked about the lives of the generous donors, and how much the community had meant to them.

In nearly twenty years of real estate, this was something I’ve never seen before.

Ben made a point that the sale proceeds would initiate a new fund called The Bakers Dozen Social Justice Fund, and interest earned would be spent on the community that the late owners had so loved and cared about. In addition, The Inner North Community Foundation would continue to add other donations to the same fund to perpetuate and increase the community support outlined by the fund.

Ben implored those in the crowd to think about this legacy, and to consider what it could mean for others to also consider such a donation.

The crowd clapped and the auctioneer, Eric Brown swapped positions with Ben and opened the auction. I commenced the bidding with a $1.1M bid and then stood back, carefully watching the crowd and waiting to see who else would jump in.

Some five others opted in at various points, with Eric announcing the property “well and truly on the market” at the $1.2M mark. I chimed back in and fought for the keys, but a mother and daughter combo were determined to call 11 Rose Street home.

The hammer fell at $1, 621,000; such a significant result for the charity and a special gift from two very generous inner-northies.

The ways that people contribute on a philanthropic level is too numerous to count, but gifting a home is a very significant action.

Inner North Community Foundation welcome contact and conversation about philanthropic initiatives.

We enjoyed interviewing an industry friend and colleague, Matt Donat from Koda Capital on The Property Diaries about his experience and involvement in assisting philanthropic ventures with his clients earlier last year. The interview can be listened to here.