Surry Hills dump sells for $1.6 million after five days

A Surry Hills terrace, completely dilapidated with missing ceilings and floors, has sold for $1.6 million.

It had a $1.5 million price guide and only spent five days on the market through Bresic Whitney Darlinghurst agents Darren Pearce and Romany Brooks.

The wide terrace, which was a four bedroom, two bathrooms house, is set on a 150 sqm Waterloo Street parcel in the heart of Surry Hills.

It was advertised as having limited access for inspections.

Recently $70,000 was spent on installing beams to support the ceiling and staircase.

Rubbish and household items were also removed in the process.

The home had been vacant for the last decade, with neighbours complaining about rubbish pile up.

In Darlinghurst another dilapidated terrace - although not quite as much as this one - fetched $1,855,000 at its weekend auction.

Property Observer set up a video of the auction which can be seen here.