It’s boarded up and graffitied but that didn’t deter prospective buyers, with strong competition to secure one Campbelltown property pushing its sale price above $1m.
The two-bedroom house at 14 Wyn St was snapped up at an in-room auction event for $1.225m on Tuesday evening.
Those interested in buying the 720sqm property were unable to inspect its circa 1959-built house but it didn’t matter because that wasn’t why they wanted it, according to the selling agent.
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The Campbelltown property at 14 Wyn St was snapped up at auction.
It sold for $1.225m under the hammer.
Danielle Albanese, of Harcourts Property People, said the appeal was primarily in the property’s size and the fact that it had two street frontages.
“Stock is pretty tight, there isn’t an abundance of possible development sites, and corners are always pretty desirable,” said Ms Albanese, who sold the property with Stephen Neal.
“There was a lot of competitive bidding – there were over 50 bids.”
She said properties in Campbelltown were always in high demand as the suburb was less than 10km from the city and family friendly with plenty of schools, shopping centres, parks and medical facilities close by.
About 95 per cent of those interested in the property were developers, including the buyer, Ms Albanese said.
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Its land size and corner position were it’s most appealing features.
Campbelltown is a popular suburb, with properties in the area always sought after.
“I believe they’re (the buyer) a small building company,” she said.
While she couldn’t shed light on why the property was boarded up, Ms Albanese said the vendors considered several options before deciding to sell.
“It was surplus to their needs,” she said.
It was advertised as a property that required “significant renovation or to be demolished”, with the real value being in the land and its potential.
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