Blank canvas Albert Park auction listing attracted keen buyer interest

Blank canvas Albert Park auction listing attracted keen buyer interest
Blank canvas Albert Park auction listing attracted keen buyer interest

Dilapidated homes aplenty at weekend auction with most doing very well.

In Melbourne's Albert Park five bidders competed for 33 Little Page St, paying $2.572 million for the brick warehouse (above) under a rusted roof on 190sq m.

It had last sold for $40,000 in 1982, it went to a Camberwell buyer who will convert the space into a family home.

At Fitzroy $677,000 was paid for a dilapidated terrace where agents Chambers had given a price guide of mid-$500,000s.

Blank canvas Albert Park auction listing attracted keen buyer interest

A builder secured the offering at 11 Henry Street (above) which came with plans and permits in place for a double-storey home with a rooftop terrace while keeping the heritage-protected 1860s facade. 

It last sold in 2014 at $510,000, and now comes with artwork by street artist, Rone who recently had a local exhibition that included photographs of murals painted in abandoned houses throughout the city.

At Box Hill a knockdown home on 646 square metres sold to one of two competing apartment developers for $4.5 million at 23 Irving Avenue.

Blank canvas Albert Park auction listing attracted keen buyer interest

It last sold in 1993 for $133,000.

Even the Adelaide which was the nation's cheapest sale was a demolition prospect, despite its outward appearance.

Blank canvas Albert Park auction listing attracted keen buyer interest

It was a $220,000 house at Para Vista (above) which had been marketed with $230,000 hopes. The three bedroom 5 Heather Court house was offered as "in need of demolition due to cracking and structural problems."

"It could be possible to rent the home out with some work done but it was land value only," the selling agent John Leske said.  

In Sydney there was a keen bidding for a Rozelle dump that fetched $1.688 million.

Blank canvas Albert Park auction listing attracted keen buyer interest

The overseas vendors had only got around to installing a new bathroom since they'd paid for the unliveable freestanding house at 23 Gordon Street (above). It last sold at $1.17 million in 2013.

 

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.

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Residential Sales Knock Down

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