Sydney auctions: Dilapidated Strathfield house sells for $5.5 million at auction

An abandoned house in Sydney’s inner west, with crumbling ceilings, cracked walls and a murky brown pool, has sold for $5.5 million at auction.

The five-bedroom house on Strathfield’s golden mile sold under the hammer on Saturday for $1.1 million above its reserve price.

It was one of 1010 home scheduled for auction in Sydney on Saturday.

SOLD - $5,500,000

155 The Boulevarde, Strathfield NSW 2135

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The house at 155 The Boulevarde had seen better days, with dirty and damaged walls and floors, peeling paint, uneven and cracked pavement, and a badly damaged tennis court. The property had been left empty for almost two years, though it had been occupied by squatters at times. Neighbours reported it had operated as an unofficial boarding house for more than a decade.

Despite its unliveable state, 15 bidders turned out to compete for the property, drawn to its L-shaped block spanning 1323 square metres and two street frontages. Most of the interested parties were developers looking to subdivide the block into two lots.

The auction had to be held outside in the rain because of the state of the house and the smell, said selling agent Norman So of Belle Property Strathfield.

A developer from Dundas Valley kicked off the bidding with an offer of $4.4 million, bang on the reserve price, and was quick to top every offer that followed – meaning only five of the 15 registered parties got a word in before the gavel fell.

The Dundas Valley developer outbid local developers and one buyer looking to build their dream home on the block.

The result was well above Strathfield’s median house price of $2.65 million, which jumped 13.2 per cent over the year to December.

“I thought it would sell for $4.6 million or maybe even $4.8 million, but I never expected the price to have a five in front of it … as it fronts onto the main road,” Mr So said.

The property hit the market with a price guide of $4 million-4.4 million last month, which was later revised to $4.4 million-$4.8 million.

SOLD - $1,505,000

60 Beaufort Street, Croydon Park NSW 2133

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It was a more subdued affair at the auction of a tightly-held Croydon Park house that sold for $1.505 million.

Seven keen builders and renovators turned out for the auction of the original two-bedroom house at 60 Beaufort Street – which came complete with a pink bathroom, floral carpets and dated kitchen.

Bidding opened at $1.25 million, and climbed in $50,000 increments to start, before dropping to smaller raises. Four parties made offers.

The 505-square-metre property sold for just above the $1.5 million reserve, through Marco Errichiello of Rich and Olivia.

SOLD - $4,200,000

34 Clanville Road, Roseville NSW 2069

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On the upper north shore, another original-condition home – a three-bedroom house in Roseville – sold for $4.2 million.

The red-brick home at 34 Clanville Road drew nine registered bidders, all of whom were looking to rebuild on the 569-square-metre block.

Bidding started at $3 million, with six of the bidders actively competing for the home, pushing the price well above the $3.5 million price guide.

The property sold through Lisa Davies, of Ray White Upper North Shore, to a local family who plan to build their dream home on the block.

Records show the house last sold for $460,000 in 1995.