A young family snapped up the three-bedroom house at 32 Camden Rd, Newtown, for $1,117,500.
Buyers are looking to make a fresh start in Newtown with a clinker brick house that retains striking original features such as ornate timber mantels and an AGA cooker.
The 794sq m property at 32 Camden Rd attracted two bidders who pushed the price past its reserve before it sold for $1,117,500 at Saturday’s auction.
Buxton, Newtown agent Ben Riddle said one of the bidders was looking for a potential development site but was trumped when a young family from Melbourne came looking for a home in the Fyans Park Primary school zone.
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The ornate timber mantel is a feature in the formal lounge room.
A second timber mantel is in the formal dining room.
“The young family moving to the area want to be in that school zone,” he said.
“It wasn’t much more than land value.
“The house had been a family property since the 1950s. The kids have been and gone and are in different parts of the world.
Mr Riddle said the sale exceeded the reserve, which had been set towards the top of the guide.
“There was probably one or two buyers that thought land value was a bit closer to $1m who probably would have put their hand up,” he said.
“There was some value in the house there, but obviously it’s a bit of a blank canvas to what you could do with it.”
The AGA stove is a key feature of the retro kitchen.
The striking colour scheme and pedestal basin remains in the bathroom.
Mr Riddle said there has been increasing interest in properties in Newtown’s riverside precinct, west of Shannon Ave.
“The proposition shifts a little bit over Shannon Ave into that area because traditionally the blocks are just a bit bigger than closer to Pakington St,” he said.
“We’re seeing a bit of a renaissance in the area and you’re starting to see a lot of money being put into those streets with new housing and a lot more unit development.”
The neighbourhood is also close to St Joseph’s College and Sacred Heart, he said.
The mid-century house has terracotta roof tiles, high ceilings with ornate cornices.
It has a big loungeroom, a formal dining room and a retro kitchen and bathroom.
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