Terrace Sale

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A two-level Carlton home, listed for sale at $2.3 million, has been quickly sold.
The 100 Barkly Street terrace was significantly rebuilt in the 1890s with an elaborate baroque façade, but had previously been an 1850s cottage owned by Patrick Costello, the great-great grandfather of high profile descendants, brothers, Peter and Tim Costello.
It last sold in 1984 at $80,500.
It was once the home of Di Gribble, the late publisher.
Agents Nicholas West and Charlie Barham from Nelson Alexander secured the sale.
According to CoreLogic, the suburb's median house price is $1.47 million. 
This article first appeared in The Weekend Australian.
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Two-level Carlton terrace sold

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2017 saw a continued trend across Sydney's inner city suburbs where dilapidated terraces hit the market.
Some with no internal walls or ceilings, the DIY and small time developers were primed to pay top dollar purely for the location and land size.
Property Observer has given a run down of the top five run down inner city terrace sales of 2017.
  
1. <a href="https://www.realestate.com.au/sold/property-terrace-nsw-surry+hills-124937998" target="_blank">102 Reservoir Street</a>, Surry Hills - $2,111,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/8/res1.jpg" alt="">
Kicking off the year of the run down terraces was a windfall result at Reservoir Street.
In slightly better shape than some of the others, the four bedroom terrace sold for over $2.1 million.
BresicWhitney's Michael Kirk and Lincoln Westerman sold the home.
They said the old terrace was a project home to suit the true visionaries, however suggested its perhaps dilapidated enough to deter any dreamers.
There was a north-facing courtyard on the 123 sqm corner block.
 
2. <a href="https://www.realestate.com.au/sold/property-house-nsw-darlinghurst-126288502" target="_blank" style="font-size: 12.16px;">141 Womerah Avenue</a>, Darlinghurst - $1,885,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/8/dump10.jpg" alt="">
The dilapidated Darlinghurst terraces saw potential buyers carefully streaming over its slightly perilous wooden floorboards before during the inspections.
The four bedroom home, that dates back to the 1890s, was listed with $1.75 million hopes through James Peach at Ray White.
It features an original floorplan spanning two levels on the 108 sq m block.
It last sold in 1955 when machinist Humbert Teuma paid £3,150.
Aspiring owner-builder Luke Hickel inspected the Darlinghurst offering, but just to research values and costs.
He agreed with the estimate from the listing agent James Peach that $500,000 plus would be needed to bring the terrace up to scratch.
We have a video from the auction here.
 
3. <a href="https://www.realestate.com.au/sold/property-house-nsw-surry+hills-126699394" target="_blank">148 Reservoir Street</a>, Surry Hills - $1.7 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/8/dump1.jpg" alt="">
The terrace on Reservoir Street hadn't traded in over three decades before its November sale.
A transformation of the home had begun but was never finished, so there were newer elements to the attic and staircase.
BresicWhitney Darlinghurst agents Lincoln Westerman and William Phillips had a buyers guide of $1.5 million.
The home last sold for $85,000 in 1985.
 
4. <a href="https://www.realestate.com.au/sold/property-house-nsw-surry+hills-126489002" target="_blank">43 Waterloo Street</a>, Surry Hills - $1.6 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/8/Dump3.jpg" alt="">
One of the most staggering results was another Surry Hills terrace, which sold for $1.6 million after just five days of marketing.
The home, completely dilapidated with missing ceilings and floors, was sold through Bresic Whitney Darlinghurst agents Darren Pearce and Romany Brooks.
The wide terrace, which was a four bedroom, two bathrooms house, is set on a 150 sqm Waterloo Street parcel in the heart of Surry Hills.
It was advertised as having limited access for inspections.
Recently $70,000 was spent on installing beams to support the ceiling and staircase.
Rubbish and household items were also removed in the process.
The home had been vacant for the last decade, with neighbours complaining about rubbish pile up.
 
5. <a href="https://www.realestate.com.au/property-house-nsw-redfern-127020598" target="_blank">544 Elizabeth Street</a>, Redfern - $1.11 million
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/8/dump5.jpg" alt="">
The most recent sale of an inner city dump was in Redfern where a terrace fetched $1.1 million at its recent December auction.
Ray White agents James and Teresa Natoli were marketing the home as an exceptional opportunity on a generous footprint in a prime location.
They had an auction guide of $900,000 to $950,000. Teresa said told realestate.com.au that there was no access approved to the site.
"The property is being offered to market in unliveable condition and requires a rebuild," their marketing said.
It last sold for $143,000 in 1991 and has been vacant for the last decade.
 
 
 
 
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The five inner Sydney terrace dumps that all fetched over $1 million in 2017

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Courtyard House, the Paddington terrace recreated by Amelia Holliday of Aileen Sage Architects and husband David Lakes of Lochbuild, has been listed for auction.
The couple paid $1.6 million for the dilapidated Comber Street home in 2010 and went about creating the new residence.
Built with a clever use of space, the home on 240 square metres is being marketed as having a cutting-edge design and sleek urban aesthetic.
It has four bedrooms, two bathrooms and a formal and informal living areas that open to a north facing garden.
The Agency's Ben Collier has set a November 4 auction date.
Holliday is the co-director of Aileen Sage Architects and Lakes is the director of construction company Lochbuild.
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Converted Paddington terrace to go under the hammer

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A sweeping trend across Sydney's inner east suburbs are sales of dilapidated terrace.
In need of full renovations of at least a couple of hundred thousand dollars, the homes are still fetching $1.5 million plus.
The latest to hit the market is a <a href="https://www.realestate.com.au/property-house-nsw-surry+hills-126699394" target="_blank">terrace on Reservoir Street</a> that hasn't traded in over three decades.
Last sold for $85,000 in 1985, the three level terrace isn't completely run down.
A transformation had begun but was never finished, so there are newer elements to the attic and staircase.
BresicWhitney Darlinghurst agents Lincoln Westerman and William Phillips have set a buyers guide of $1.5 million for its November 18 auction.
Last month another <a href="https://www.urban.com.au/expert-insights/buying/76396-surry-hills-dump-sells-for-1-6-million-after-five-days" target="_blank">Surry Hills terrace</a>, in a state of almost disrepair with missing ceilings, sold for $1.6 million in five days.
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Another dilapidated Surry Hills terrace hits the market

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Renae Leith-Manos, founder of heatlh, fitness and lifestyle blog Bondi Beauty, has quickly flipped her rebuilt 1890s Paddington terrace.
She paid $2,325,000 for the three bedroom, two bathroom terrace last year and has just completed the transformation, with a $4,035,000 sale achieved in just days of it hitting the market.
Marketed as a London style terrace, the home now comes with four bedrooms, three bathrooms with features finishes sourced from around the world.
Phillips Pantzer Donnelley agents Alexander Phillips and Gavin Lewis had set a late August auction date.
Manos wrote the book A Red Carpet Guide to Sydney.
This article first appeared in the Daily Telegraph.
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Lifestyle blog founder Renae Leith-Mano sells Paddo reno

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Craig Garvin, boss of French-owned dairy company Parmalat, has settled on a revamped Paddington terrace.
The $7.2 million sale makes the contemporary residence the second most expensive in the suburb this year.
The home, which is set up for busienss and residential, has five bedrooms, five bathrooms and a vast office space on the ground level.
It last traded for $3.6 million in 2007. Craig and wife Linda have just sold their long-time Chatswood home pre-auction. It cost $1.14 million in 2005.
Agent Harriet France sold the home, advertising it as "melding Palm Springs modernism with Manhattan sophistication."
Garvin has been the chief executive officer at Parmalat since 2010.
Before joining Parmalat he held senior positions at Star City Hotel and Casino, Arnotts Biscuits and PepsiCo.
This article first appeared in the Daily Telegraph.
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Parmalat boss Craig Garvin buys revamped Paddington terrace

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A four bedroom Newtown, NSW Victorian terrace listed with $3 million plus hopes sold on the weekend for $3,520,000 through Urbane Inner West.
Located at <a href="https://www.realestate.com.au/property-house-nsw-newtown-125790158" target="_blank">33 Georgina Street</a>, the 321 sqm property is situated high on Newtown’s dress circle opposite Hollis Park.
Built in 1885, it was bought in 2011 by Nikki and Benje Kemp for $2.37 million.
It had previously sold in 2001 for $1.35 million, 1999 for $1.065 million and $632,000 in 1994 and in 1987 for $220,000.
The living and dining rooms are warmed by marble gas fireplaces while the chef’s kitchen has it’s own gas cooktop as well as marble and timber finishes.
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The master suite features a dressing room, balcony and spa bath while the top level has space for a bedroom, ensuite and kitchenette.
The ground level self-contained apartment has its own private entrance and study.
Other features includes a deck, sandstone courtyard and garage.
The auction is on July 29 through Urbane Property agents Prue Holcombe and Charles Bailey.
A historic Newtown home has been listed with record setting $5 million plus hopes.
The 131-year-old home at 20-28 Munni Street goes to auction on August 19. 
 The 622-square-metre block is one of Newtown’s largest single landholdings. There is a four-bedroom, three-bathroom house built in 1876.
The house last traded in 1988 for $368,000.
Musician Lara Goodridge holds the record with her recent purchase of a terrace on Watkin Street Newtown for $3.8 million.
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Four bedroom Newtown terrace sold

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Splendour in the Grass co-founder Jessica Ducrou and her surfboard shaping partner Dain Thomas have bought in Paddington.
They've paid $3.65 million for a <a href="https://www.realestate.com.au/sold/property-house-nsw-paddington-125252890" target="_blank">renovated Glenmore Road terrace</a>.
More than doubled in price since its last $1.75 million trade in 2013, the three level home is a mix of contemporary and classic.
It has four bedrooms and two bathrooms.
The top floor is dedicated to the master retreat and the lower-level living and dining space is flanked by a courtyard at both ends.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/Splendour2.jpg" alt="">
Di Jones Eastern Suburbs agents Jane Schumann and Gary Sands sold the home.
The couple have been Byron Bay based at their historic 109 year old farmhouse Killarney.
The two level Queenslander had five bedrooms and an entertaining deck that overlooked the saltwater pool and large cabana. 
Ducroe is the managing director of Secret Sound Group, a company that she runs with music industry veteran Paul Piticco.
The two first combined over 20 years ago, working with Australian rock band Powderfinger.
Piticco was the bands manager and Ducrou was the booking agent.
The two were described by Billboard as two of the Australian music industry's top power players.
In 2001 the two combined to launch Splendour in the Grass in Byron Bay, with Powderfinger headlining the inaugural show.
The following year the two founded Secret Sounds, a full-service tour promotor which is now valued at around $60 million.
Ducroe had founded Homebake Festival in 1996.
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Splendour in the Grass co-founder buys in Paddington

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Sydney's most stylish mother-daughter fashionista duo, Claudia and Vivian Chan Shaw, have sold their Woolloomooloo terrace after three decades of ownership.
It was the <a href="https://www.realestate.com.au/sold/property-terrace-nsw-woolloomooloo-125560202" target="_blank">Dowling Street headquarters</a> where they ran their knitwear fashion business.
Vivian Chan Shaw, who began her fashion career in the 1960s, was the queen of Australian knitwear. She had her first salon under the Sydney Hilton in the early 1970s and then a store in the Queen Victoria Building for 28 years until 2014.
Claudia Chan Shaw appeared for many years as a panellist on the ABC series Collectors.
With period features including lacework, high ceilings and sandstone wall components, it sold for $2.21 million through Geoff Cox and Jason Boon at R&amp;W Elizabeth Bay.
The four level Victorian terrace zoned commercial mixed use last sold in 1987 for $180,000.  
This article first appeared in the Sunday Telegraph.
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Legendary knitwear queen Vivian Chan Shaw sells Woolloomooloo terrace

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Despite spending more time back in Italy, veteran magazine publisher Marcello Grand has bought back into the Sydney market, settling on a redesigned Victorian terrace in Paddington.
It's a investment rental for Grand however, who paid $2,215,000 for the home revamped by interior designer Thomas Hamel.
There are whispers Grand is already planning a renovation.
It has three bedrooms, one bathroom, a dressing room and a rear courtyard that flows from the stainless steel kitchen and dining area.
Two of the bedrooms have balconies while the third acts as an attic retreat.
Ray White Double Bay agent Peter Leipnik sold the home which is now up for rent at $1,350 a week, which would reflect a three percent yield.
It was 1983 when Grand established Studio Magazines. 
His first magazine was Studio Collections was a womens' fashion magazine with the Black + White magazine its most known after launched in 1992 and published until 2007. 
Having studied at Turin University, Marcello had previously worked as an architect and advertising consultant.  
Grand sold his renovated Darling Point penthouse for $3,525,000 late last year. He paid $1.4 million for the unit in 2012 from former Double Bay Art Gallery director Alan Winters.
 
 
 
 
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