Developer snaps up prime site

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This authentic Cambridge Park house marketed for 10,000.Supply:Provided

A western Sydney house only at any time held by 1 relatives has been snapped up by a developer.

With authentic functions during, the outdated residence on 833sqm at 179 Victoria St, Cambridge Park marketed for a steal – about 00,000 significantly less than Sydney’s median device price tag.

The assets, which is strolling length from Kingswood practice station, initial strike the market place with a tutorial of 20,000 to 70,000. But a price tag adjustment observed the array fall to 99,000 to 49,000.

It marketed for 10,000 by way of Jim Aitken and Associates brokers Brett Sutton and Michael Shorey.

Mr Sutton mentioned 4 events created price tag presents on the deceased estate in advance of a developer secured it.

An aerial view of the 833sqm block.

An aerial see of the 833sqm block.Supply:Provided

“Due to the block sizing and its extensive 18m frontage it captivated a whole lot of curiosity from builders,” the agent mentioned.

“The customer is wanting at knocking the residence down and developing a duplex on website.”

Working with the family’s grownup kids, Mr Sutton mentioned it was a bittersweet sale for them, as they experienced developed up in the residence.

In excess of the yrs, it underwent a few of extensions to accommodate the then expanding relatives.

The developer plans to build a duplex on site.

The developer strategies to develop a duplex on website.Supply:Provided

The assets marketed for significantly less than the suburb’s median residence price tag of 28,750, in accordance to CoreLogic data.

Far more than 80 for every cent of the spot is created up of detached residences, on the other hand this could adjust as builders proceed to find out strata title subdivision in more mature suburbs, the agent mentioned.