Knockdown 1918 Coogee Federation fetches $4.6 million

A grand Federation manor on 638 sqm in Coogee has been sold for $4.6 million at Cooley auction last night.

It is zoned R3 Development Potential, so it is likely to be demolished for units. Developers are hoping between six to nine units would be immediately possible. 

The freestanding Federation manor at 48 Dudley Street was marketed as a rare opportunity for development or sympathetic renovation.

There were $3.5 million plus indications, according to CoreLogic RP Data.

Auctioneer Damien Cooley advised the 13 registered parties the reserve was $3.5 million, with developers winning the prize offering.

Retaining a wealth of original features, the sprawling five-bedroom property showcases craftsmanship throughout from the soaring ornate ceilings to the rich maple joinery and artisan leadlight windows.

The historic treasure was built in 1918 and has been in the Joseph family ownership since 1947. 

It was offered through Coogee First National agents James Giltinan and Deborah Astelarra, inconjunction with PPDRE.