Derelict Paddington terrace fetches $190,000 more
Jonathan ChancellorDecember 7, 2020
Sydney's Paddington had its own dilapidated terrace auction offering.
The 45 Iris Street offering sold for $1.19 million - $190,000 more than it was purchased for just eight months ago.
The uninhabitable two bedroom terrace had three bidders with it sold to an investor who will implement the recently obtained $600,000 development approval.
The terrace had been the home of the late artist Christina Coombes who had bought it in 1965 for £3200.
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.