Iconic and tightly-held homes sold across Sydney auctions on Saturday, with the majority smashing their price expectations.
An Inner West icon in Glebe, also known as ‘The Cow House’, sold under the hammer for $2.95 million.
With three registered bidders and two active, the auction was led by auctioneer Tim Snell of Ray White.
Lead agent Matt Carvalho of Ray White Surry Hills said the home was well known by many of the locals.
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28 Forsyth Street, Glebe also known as ‘The Cow House’ sold for $2.95m
Inside the Glebe home
“It used to be a milk bar and a couple of owners ago they renovated it into a home and painted a cow on the front door and some cow print around parts of the home,” he said. “It’s well known as ‘The Cow House’.
“Quite often you see people posting photos out the front.”
The vendors bought it off Mr Carvalho in 2021 for the same price as the opening bid by the eventual buyer of $2.8m.
“It was the first auction coming out of the second Covid lockdown,” he said.
“I think the thing about this house is that there aren’t a lot of houses in Glebe that have rooftop terraces, so having one is a massive drawcard.”
Mr Carvalho said the rooftop was a massive drawcard
It was a reasonably fast auction moving from the opening bid to $2.9m, followed by a $250,000 bid when a negotiation took place moving it to the highest and final price with about 25 people were in attendance.
“I’ve sold it twice now and it’s always appealed to the more creative, it is such a unique space.”
The buyer Amanda Meares is an artist who said she thought the home was really cute from the beginning.
“It’s historic, tall, and has lots of light,” she said.
“I love all the industrial feel to it.
Buyer Amanda Meares
“I’m not sure about the cow, I think I might change the animal to a cat, or maybe a dog or a horse.
“It could be ‘The Cat House’.”
Ms Meares said she had been looking for a home in the area.
“I love the area, you feel like you’re in the city,” she said.
“There’s the fish market and the water, we can catch the ferry.”
Ms Meares said this was not her first time buying via auction.
“We like it better, we like the transparency and feel like we’re getting a fair price,” she said.
“With the other method you never know.
“You also get to meet all the neighbours when they come to watch the auction.
“Everyone was so friendly and they’ve already invited us for coffee.”
60 Cripps Avenue, Kingsgrove sold for $215,000 over its reserve
At 60 Cripps Avenue a home sold $215,000 over its $1.85m reserve.
An opening bid of $1.8m ended with a final price of $2.06m.
Located in Kingsgrove, the home was purchased by the vendors in late 1970s.
Agent Gina Alexiou of McGrath Beverly Hills said she had sold a few properties in the area of similar value.
“Having a resident’s only street and the three double bedrooms and double garage were a big highlight,” she said.
12 Ward Street, Yagoona sold for $106,000 over its $1.2m reserve
In the South West, 12 Ward Street sold for $106,000 over its $1.2m reserve.
With eight registered bidders, the Yagoona home had been the same family for more than 70 years.
“The sellers, two sisters, were over the moon with the result,” lead agent Craig Stephenson of Ray White Bankstown said.
“The winning bid went to an investor who is looking to potentially add a granny flat.”
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12 Beamish St, Padstow
Another home in the South West at 12 Beamish Street sold for $1.93m after guiding $1.6m.
“We had a few registered bidders around 10 and there were about five active,” agent David Loaney of LJ Hooker Padstow said.
“The main attraction was the 18m frontage,” he said.
“Its a very tightly held street that one.”
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