9/10 Lincoln Cres, Woolloomooloo has a $7m price guide for a May 9 auction.

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A range of successful business types own in Woolloomooloo’s Wharf Terraces, including the former CEO of Louis Vuitton, Philip Corne and car man Greg Duncan.

It’s a favourite destination for downsizers, primarily because of its convenience — a waterfront city location close to restaurants and the Sydney Modern — the harbour views and also the size.

“They’ve got the fourth bedroom which is hard to get in east/city strata at any price point — it wouldn’t matter if it was $20m,” says Sotheby’s agent Jaime Upton, who has sold many apartments in the block over the years.

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Apartments at Wharf Terraces rarely come up.

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The apartment is being sold with the quality furniture included.

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Opportunities to buy one of the 34 apartments in the block rarely come up, so when property developer Jeff McCloy’s residence at 9/10 Lincoln Crescent hit the market Upton had 250 inquiries within days.

“I’ve never had more inquiry on a newly launched listing,” she says.

“And the buyers love the brand new high-spec renovation, so there’s nothing to do.”

Upton says the 246sqm apartment is being sold complete with McCloy’s high-end furniture.

“All you need to bring is your toothbrush,” she says.

It’s just had a high-spec renovation.

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Buyers love that there are four bedrooms.

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The guide is $7m for a May 9 auction.

Meanwhile, McCloy is off to a waterfront mansion at Sovereign Islands on the Gold Coast, purchased last October for $6.2m.

The three-level house has 23m of water frontage and a pontoon suitable for a large boat.

Features include a glass lift, cinema, wine cellar, wet bar and basement car park for five vehicles.