A familiar Art Deco block in Waverley has changed hands for $4.1 million, almost six decades after it last sold for $28,000 and tenants were paying less than $9 a week in rent.
Known as Wills Court, the four-flat building at 2 Wills Avenue has stood through decades of change in the eastern suburbs, with its latest sale providing a sharp contrast with the circumstances surrounding its previous transaction in 1968.
The property contains four two-bedroom flats and sits about 900 metres from Bronte Beach. It had been on the market for more than a year before being bought by an interstate investor.
Six Decades Of Change At Wills Court
When Wills Court last changed hands in 1968, the property sold for $28,000.
At the time, rents for the flats ranged from $8.35 to $8.80 per week under a controlled rent scheme designed to protect war widows following the Second World War.
Those arrangements form part of the building’s earlier history in Waverley, long before the current rental levels seen at the property. The flats are now reported as renting for $800 per week.
Vendor Ian Brightwell said his late father had been interested in the property because of the size of the block and its potential to be improved. Wills Court was one of a number of properties in a sizeable portfolio across the eastern suburbs.
Waverley Block Changes Hands Again
The latest sale was recorded on 16 August 2026, with Wills Court purchased for $4.1 million by an interstate investor.
Paul Grasso of Rockford RE Group and James Cowan of Colliers handled the transaction. The vendors had earlier held expectations in the mid-$4 million range, with the property remaining on the market for more than a year before the sale was completed.
The building remains fully leased, with all four two-bedroom flats held together on a single title.
Its position in Waverley also places it within walking distance of the coast, about 900 metres from Bronte Beach and approximately seven kilometres from the Sydney CBD.
For Wills Court, the latest transaction adds another chapter to a property record stretching back to its $28,000 sale in 1968, when weekly rents at the four-flat building were still measured in single figures.
Published 28-August-2026
