Same 10 bedroom, 10 bathroom Kings Cross re-offering

Same 10 bedroom, 10 bathroom Kings Cross re-offering
Jonathan ChancellorDecember 7, 2020

A Kings Cross terrace with 10 bedrooms and 10 bathrooms has been relisted by McGrath Estate Agents, with its front façade repainted since initially sold last month.

The property sold recently for $2 million when more than $1.8 million was being sought by the agent Peter Starr.

The buyer has spotted another investment opportunity, so have put the property up for sale after a splash of beige paint on its façade. Its former black exterior is pictured below.

Pre-auction $2 million deal for Kings Cross 'special' offering

Last month Property Observer reported Martindale sold for $2 million pre-auction through McGrath Estate Agents with a distinctive black facade at 52 Kellett Street features an insightful floor plan indicating (pictured below) the purposeful layout.

The property at 52 Kellett Street features an insightful floor plan indicating (pictured below) the purposeful layout.

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It featured in the 1999 SMH report by the investigative duo Kate McClymont and Andrew Clennell entitled, "Our Brothel Barons".

At the time it reportedly traded as Classique, a brothel whose advertising once boasted of a speciality in lesbian double acts. It has more recently traded as Studio 52, Star 52, Antonio’s Angels and Secret Desire. The rates have been at around $120 for 30 minutes.

The building, which has been marketed as in Potts Point, was listed previously in 2011, 2012 and 2013 without success.

It last traded at $2.1 million in 2006 when bought by ETC Australias Group Pty Ltd. Its earlier sales were $1.5 million in 2004 and at $1.38 million in 1999.

The premises were for sale, not the business.

There is no registered lease, with no rental income advisory given in the first McGrath marketing.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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