DX Solutions managing director sets Newtown suburb record

Peter Yialas, the managing director at the ICT services provider, DX Solutions has spent a suburb record $3.85 million on a historic Newtown home.

The 131 year old home on one of Newtown's largest single landholdings was built in 1876 - just a few years after Newtown was made a municipality.

Last traded for $368,000 in 1988, the four bedroom home with swimming pool was sold by Colliers International agent Trent Gallagher.

Yialas has recently leased the home at $1,600 a week, reflecting a low two percent yield.

The previous $3.8 million record was set in May, when musician Lara Goodridge sold in Watkin Street.

This article was first published in the Saturday Daily Telegraph.