A Redfern terrace has been sold to a neighbour for $1.86 million. The winner outbid several other investors, first-home buyers and builders at a hotly contested bidding that began at $1.3 million and quickly increased to $1.5 million.
The auction, which had five active bidders, was held 25 March 2023. The bidding war quickly came down to bids between a first-home buyer couple and an investor who owned a neighbouring property.
One of the bidders who bowed out of the race said that they’re conscious of avoiding a situation where they might overstretch their budget for a property purchase, particularly in light of recently publicised struggles of some individuals who have found themselves in difficult circumstances, necessitating a lifestyle change to maintain their mortgage payments.
In the end, the neighbour won the auction and secured the 130-square-metre block at 815 Bourke Street, along with DA-approved plans for a 4-bedroom, 2-bathroom home. The house last changed hands in 2012 for $825,000.
The single-level floor plan boasts three bedrooms, generous living space, and a courtyard escape, making it suitable for both up-sizers and downsizers.
The property has a classic central living area with a green marble fireplace, an arch in the hallway, rich hardwood floorboards, and pressed metal ceilings in the lounge and bedroom 3.
The eat-in kitchen has been renovated and now features stylish timber benchtops and subway tiles. It also has modern lighting pendants, mirrored built-in robes, internal laundry with storage, and pedestrian access from the rear lane.
This Redfern terrace is an impressive property that offers ample space, character, and convenience and is just 400 metres from Surry Hills and local amenities.
Moreover, it is located in close proximity to city buses, a light rail station, Waterloo supermarkets and Danks Street cafes and restaurants.
Published 10-April-2023