Paddington's 1915 time capsule sells for $1.2 million

Held by the one family for nearly 100 years, the latest Paddington cottage listing fetched $1.2 million tonight.

Close to Five Ways, the 6 Broughton Street offering is as Paddington was back in 1915 within the two bedroom cottage.

The time capsule went auction through BradfieldCleary agent Georgia Cleary.

It was too hard for picky Paddington home buyers it seems.

Instead it was left to three builders to compete for the Victorian workers' cottage when it was auctioned by Damien Cooley who was reluctant to accept the $900,000 opening bid.

They could probably undertake the necessary works for around $400,000, whereas non-builders would probably face $800,000 easily spent.

More than $1 million was tipped to be pocketed by the current day Christensen family members.

Title records show it last traded when a tramway worker purchased it from a local labourer for £400 around 100 years ago.