Roofless house fetches $2.8 million

Roofless house fetches $2.8 million
Roofless house fetches $2.8 million

The most expensive house to sell at weekend auction in Melbourne was a derelict four bedroom heritage home in Hawthorn for $2.815 million.

It was roofless! Decaying over the past decade, then nearly destroyed by fire two years ago.

Most Melbourne agents - and their vendors and buyers - took the weekend off for the spring racing carnival.

But Marshall White agent Duane Wolowiec saw the opportunity to run a lengthier five week marketing campaign for his tricky listing that gave prospective buyers extra time to become convinced it was a punt they'd be prepared to take on.

The top sale at Hawthorn was a 1000 sq m offering on the Lisson Grove estate which since the 1870s had been regarded as one Hawthorn's most fashionable avenues given the lovely Victorian homes set in large gardens.

Number 65 was one of four single storey villas built between 1884 and 1886 by the Troon family featuring a symmetrical façade with double bay windows.

"We have five young families bidding" Duane Wolowiec said. 

"There are strict heritage restoration conditions including the need to install slate roofing," he said.

Most buyers thought the restoration would cost at least $1.5 million, he added. Hawthorn's median house price currently sits at a record $1.85 million, according to CoreLogic.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

Tags: 
Auction Residential Sales

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