Second chance for Newtown home sold for first time in 73 years
Two bidders made a play for 53 Percy St, Newtown, at Saturday’s auction.
A Newtown home ready for the wrecker’s ball has sparked competition from families looking for a premium home site near Pakington St.
Two bidders raised a hand for 53 Percy St, where the absence of heritage restrictions provided a clean slate.
The three-bedroom house on a 710sq m block sold for $1.072m, more than $60,000 over reserve, at Saturday’s auction.
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Buxton agent Tom Butters said he had priced the property based on land value, given the weatherboard home’s poor state.
It was offered to market for the first after being occupied by the same woman for 73 years.
“A young family moving down from Melbourne bought it, they had sold in Melbourne and they loved the size of the land and they loved the street,” Mr Butters said.
“They are going to try and retain the character of the home and make it a family home.”
Buxton agent Tom Butters calls Saturday’s auction.
He described the block as “real estate gold 101” due to its location just down the road from Pakington St’s cafe strip and prestigious schools.
“The home has seen better days, I’m not going to lie, that is what happens with age,” he told the auction crowd.
“But if you have plans there is no heritage restrictions … you have a clean site in a blue chip suburb.”
The location was the biggest drawcard.
Shy buyers initially sat back until Mr Butters opened with $980,000 vendor bid, but just moments later he announced the property on the market as the price sailed past $1.01m.
The house offers three bedrooms, a separate living room, kitchen and bathroom in its current form.