PHOTO: 10 Patterson St, North Bondi sold at auction for $2.275 million. Source: Supplied

Property sales have been heating up in Sydney’s east, with buyers scrambling to the auction of a deceased estate near Bondi Beach just for the chance to knock it down.

A brick cottage in North Bondi has sold under the hammer for $2.275 million — just to be bulldozed.

The price for the two-bedroom house at 10 Patterson Rd was $175,000 above the vendor’s reserve and $575,000 above the opening bid of $1.7 million.

Selling agent Michael Rowles of Bradfield Cleary told the Sunday Telegraph the buyer was planning to knock down the 1930s cottage and replace it with a modern house.

The deceased estate was in a rundown state, with much of the interior requiring major restoration work.