A tiny terrace in Sydney’s Surry Hills, with the upstairs burnt out, has sold at auction for $911,000.
The two-bedroom property on 49 square metres of land went under the hammer for $11,000 above reserve on Saturday despite being “unliveable”.
Listing agent BresicWhitney called the property a “blank canvas” and a “terrace for renovators”.
“With fire damage upstairs, here’s a challenge that’s ripe for renovation and a blank canvas ready for new life. If the fire is enough to scare off your competition, it could be your savvy starting point,” it said.
According to Domain, the fire damage to the property was so bad that bedrooms had to be sealed off with the roof looking as if it were to collapse.
Despite this, there were five bidders all vying for the inner-city property which also has a courtyard and two balconies.
Other properties in Surry Hills have attracted huge price tags including a 2.85 metre terrace which nearly fetched $1 million at auction and a derelict terrace where a woman’s body was found 8 years after she died which sold for $1.1 million.