Far out Friday: Grandmother turns down $27m offer for Sydney property

by NZ Adviser01 Jul 2016
82-year-old grandmother and retired schoolteacher Ruth has rejected a whopping $27 million offer by developers looking to buy her property, according to Fairfax Media.
 
"Money isn't everything," she says, preferring to stay in her home even as her neighbours sell up around her.
 
Domain.com.au reported that developers offering her the large sum were looking to transform the 2500-square-metre corner block in Sydney’s suburb of Castle Hill.
 
"But I told them no," Ruth said. "Then they kept coming back. You'll never believe what they ended up offering me – (AU)$26 million!"
 
Castle Hill’s many large detached dwellings on a good size plot of land are being replaced with medium and high-density housing - "row after row of tower blocks" - in the popular area.
 
Developers snapped up a block of five properties across the road from Ruth’s house for $20.5million in late 2014 but Ruth wants to stay put.
 
"I don't care if they offer me $50 million," she told Domain.
 
"Of course it's a lot of money, and my children would love me to sell, but it's irrelevant to me. Things are changing, I can see that happening, and I think I will be lonely here in a way when the neighbours move out and they pull their houses down.
 
The property has been Ruth’s home for 55 years after she purchased the land with her late shopkeeper husband and designed the house herself.
 
"I went to the Girl Guides at the end of the road, we set up a soccer club here, there was the pony club and the yearly shows, and all the neighbours used to get together for lunch," she said.
 
"It was about working together to help each other out and I couldn't walk down the street without seeing people I knew. It always had a lovely atmosphere. It used to be paddocks and people rode their horses along the street."

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