Inner city suburb properties sell under the hammer

first_imgThis property at 12 Torrens St, Annerley sold at auction for $615,000 on May 19.BROTHERS Greg and Glen Cameron said goodbye to the home their grandfather built when it sold at auction on May 19, 2018.SOLD: 77 Tooth Ave, Paddington sold at auction on May 19 for $1.92 million.Place Paddington principal director and auctioneer Andrew Degn said they had eight buyers register to bid on 77 Tooth Ave, Paddington, which sold for $1.92 million.“It was a great result and everyone’s happy,” Mr Degn said.The 1912-built Tooth St home’s last renovation was some time in the 1970s.He said only four of the eight registered bidders put their hand up and bidding started at $1.2 million.“They were a bit cheeky, I called for $1.6 and they opened me at $1.2 and then we went in $50,000 rises,” he said.“We got back up to $1.6 and then it took off after that.”The buyers will cash in on this view and will likely renovate the Paddington pad.Mr Degn said the male buyers were in their mid-30s and purchased it as a joint ventre.“I think they’re going to live in it, then renovate it, then sell it again,” he said.“Because it’s in two lots they might build two properties, but they’re undecided yet.”Vendor Glen Cameron said he would be interested to see what they do to the home, which had been in his family for more than 100 years.“My grandfather built this in 1912, and it’s been in the family since then of course,” Mr Cameron said.“The house is very, very solid with the way it was built and how it was maintained.More from newsParks and wildlife the new lust-haves post coronavirus18 hours agoNoosa’s best beachfront penthouse is about to hit the market18 hours ago“A renovation was done back in probably the 1970s, we put in new stumps and all sorts of things and its solid as a rock.“I will probably have a chat to the guy who bought it, because he seemed quite nice.“It’ll be interesting to see what he wants to do.”The buyer of 12 Torrens St, Annerley, which sold at auction for $615,000 on May 19, loves the proximity to Brisbane City.A two-bedroom home, on the other side of the city, in Annerley also sold under the hammer on May 18.Ray White Bulimba elite sales and marketing Mark Diamond said eight bidders registered to buy 12 Torrens St, Annerley.“We had eight registered bidders and we probably had 35 to 40 people watching,” Mr Diamond said.“Bidding started at $400,000 and it sold for $615,000.”The buyer of this Annerley homes plans to renovate it.The property, which last sold in 2009 for $435,000, has a development approval in place for demolition, but buyer Vincent Blanchet said he has no immediate plans to demolish the home.“I think I will renovate and live in it a little bit,” Mr Blanchet said.Mr Blanchet, who is a neighbour, said he had looked to buy in the pocket before, but the stocks were not suitable until this property came on to the market.“I like the street, it’s a bit leafy and it’s a high set, so that’s an asset for me,” he said.“It’s close to the CBD, so the transport is always excellent and with the new Cross River Rail and the Brisbane Metro, it’s going to make access to the busy part of the city even better.”On the opposite end of the scale, a rare acreage property at 70 Woodlark Cres, Parkinson was passed in at auction.The rare Parkinson property was passed in at $2.4 million.Queensland Sotherby’s International Realty Brisbane senior sales executive Malcolm Li said despite having four registered bidders, the four-bedroom home did not sell.“Bidding opened at $1.5 million, and it was passed in at $2.4 million,” Mr Li said.He said negotiations would continue over the weekend.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 3:17Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -3:17 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels576p576p480p480p256p256p228p228pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. 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