A young couple purchases a unique property in an old butcher shop for $3,415,000.

A young couple outbid two downsizers at the heated runaway auction on Saturday, paying $3,415,000 for a house in a former butcher’s shop in Newtown.

The two exceeded both the vendor’s and the agent’s expectations when they outbid four other bidders for the unique home by $415,000 over the reserve.

The property at 223-225 Australia Street, created by architect Stephen Sainsbury, hasn’t changed hands in nearly 20 years; its previous price was $1.2 million.

With its original 1880s fa├žade still intact, it has a plunge pool and a private courtyard. This is the only vestige of the house’s previous uses as a butcher shop and, at one point in the 1940s, a barbershop.

There were 892 auctions set for Saturday in Sydney. By nightfall, 110 auctions had been withdrawn, while Domain Group had reported 564 results, yielding a preliminary auction clearing rate of 69.7%. In order to determine the clearing rate, unsold properties are included in the count of withdrawn auctions.

Thomas McGlynn, the auctioneer and CEO of BresicWhitney, stated that the outcome beyond their projections and demonstrated the amount of money that purchasers were willing to spend on a unique residence.

“The auction drew a sizable audience and was fiercely contested,” he remarked.

“It’s one of those properties where there’s a sense of disappointment even if you bid to your limit and didn’t win.”

According to McGlynn, bidding began at the $2.7 million price tag and increased by $50,000, then $25,000, until it reached the $3 million milestone. A mix of younger couples and downsizers engaged in a duel, and the buyers held off on raising their paddle until halfway through.

The underbidders, according to selling agent Renae Dickey of BresicWhitney Inner West, were a downsizing Balmain couple who were quite clear about what they were willing to spend.

They succeeded up until about the $3.4 million point, after which it was pushed above their limit, the spokesperson stated.

An interstate family paid $4,105,000 for one of the few unrenovated homes in the region just a short distance from the surf at Bondi Beach.

The three-bedroom home at 78 Roscoe Street is up for auction for the first time since 1975, and a large number of parties have placed bids in front of the public.

In an exciting auction, the purchasers exceeded the reserve by $1.1 million, according to selling agent Pauline Goodyer of Goodyer Real Estate.

Author: utdinfo_2ye1ln

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