16 Lechmere St, New Farm is going to auction on February 27.
A Queensland cottage, secured with a £5 deposit, has hit the market for the first time after remaining in the same family since 1916.
Set for auction on February 27, the three-bedroom home is in one of Brisbane’s most expensive suburbs.
The modest cottage, on a 425sq m block in New Farm, has remained in continuous family ownership since the land was purchased in 1916, with the house constructed in 1923.
The cottage is on a 425sq m block.
The kitchen.
Archival records reveal the land was originally secured with a £5 deposit, with the balance repaid at £1 per month plus 5 per cent interest – a rare glimpse into early 20th-century property purchase terms that underline how long the home has been held.
The property is being marketed by Aaron Woolard and Nathan Briggs of Place New Farm.
Mr Woolard said properties with this level of longevity were increasingly uncommon in inner city Brisbane.
“In suburbs like New Farm, most homes change hands every decade or so,” he said.
“To see uninterrupted family ownership spanning more than a century is extremely unusual.”
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The dining room.
The kitchen.
Mr Briggs said while some works have been carried out over time, much of the home remained reflective of its original form, having evolved gradually through decades of family occupation rather than major renovation,” Mr Brigg said.
“The property has never been rented and has remained within the same family for generations. “It is now being offered for sale by the family estate for the first time in over a century.”
The dining room.
One of the bedrooms.
Records also show the house was among the earlier properties in the area to receive sewerage in the mid-1920s and remained flood-free during the 1974 Brisbane floods, despite surrounding streets being inundated.
The highset workers’ cottage offered plenty of potential future potential, subject to approvals, allowing buyers to consider how the next chapter of the property may unfold,
“For many buyers, the appeal is starting with a home that hasn’t already been over-reworked,” Aaron said.
“It allows people to decide how they want the next chapter to look.”
PropTrack reveals the median house price in New Farm is $3.4m, up 14.3 per cent.
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