A property observer at the auction of the Mercer Road home last Saturday said bidding intensified for the four-bedroom house after it hit a reserve of $4.61 million. A final knock-out bid of $100,000 by an undisclosed business identity saw bidding halt and the home sell for $5.1 million.
Castran Gilbert director Paul Castran declined to reveal the buyer’s identity.
Riley and television producer husband Rick McKenna reportedly paid $4.45 million for the home last year. Riley, co-creator of the comedy show Kath & Kim with Jane Turner, signed a lucrative fourth-series deal with Network Seven earlier this year.