56 Villiers Street, New Farm, has sold at auction.
This ‘untouched’ Brisbane house built in 1890 has sold for millions after finding a buyer willing to restore it to secure a 427sq m inner city foothold.
The 133-year-old house called Norwood had been unsuccessfully listed for sale at $1.6m two years before Covid-19, according to records, but the value has now surpassed even that 2018 expectation by $935,000 in just five years.
MORE: Inside designer to the stars’ ridiculous $13m Noosa home
Hot auction: Brisbane home tops weekend landing $5.2m
How fed-up Aussies are saving faster to get off ‘rental treadmill’
The house was built in 1890 according to records.
Many original features remain inside the home including pressed metal ceilings and a striking fireplace.
Records show the home last changed hands for just $120,000 about 34 years ago, and was brought to market by an interstate architect with a taste for heritage homes who has now secured $2.535m for it.
The property has full architectural and structural plans approved to reconstruct and repair its verandas.
It sits on an elevated flood-free 427sq m block – with its location sealing its post-pandemic price tag given its proximity to the city (3km), Merthyr Village, New Farm Park, James Street, Howard Smith Wharves as well as leading public and private schools.
The home is ripe for renovation.
There are approved plans to reconstruct the verandas.
MORE: See the latest PropTrack Home Price Index
Norwood, which is located on Villiers Street, New Farm, was listed for auction in original condition “vastly untouched” with features such as high pressed metal ceilings, egg and dart cornices, double-hung and casement timber windows, timber flooring throughout, decorative fretwork breeze-lights and cast iron rimlocks.
The clawfoot bath is a relatively new addition.
Location is a big drawcard.
Ray White New Farm real estate agent Nick Mogridge had listed the property as “a rare gem”.
“Highly sought, yet rarely offered, this is a very rare opportunity to cherish, love, restore and potentially extend a truly beautiful historic home,” the listing on realestate.com.au said.
FOLLOW SOPHIE FOSTER ON TWITTER
The post A 133-year-old ‘untouched’ Brisbane house sold for millions appeared first on realestate.com.au.
Did you miss our previous article...
https://bulimbapropertymanagement.com.au/private-hospital-plans-replace-office-in-brisbane-project/