If the newest series of The Blockhas given you the renovation bug, than this cottage in Sydney’s inner west might just be the project for you.
Described in the online listing as “not for the faint hearted”, this derelict property needs some serious work.
No. 179 Denison St in Newtown is falling apart on both the inside and out, with walls missing and the roof having seen better days.
Listed to go to auction on August 24 with Urbane Property’s Charles Bailey, the timber cottage is being sold off through the NSW Public Trustee.
Mr Bailey said the property is certainly not something he expects to be popular with first homebuyers.
“I think a property like this is too daunting for a first homebuyer to attempt, but it will be popular with developers and builders,” he said.
More than 100 interested buyers have already inquired about the property, and four have requested a contract without even seeing it in person.
Not liveable in its current state, Mr Bailey said whoever buys it at auction this month will probably have to knock the home down.
“That will be the easiest way to renovate the site,” he said.
“There is scope to build a two-storey, three-bedroom property on the 127sqm block.”
The basic kitchen has dirty walls and damaged floors, but least it comes with a shiny new electric stove. The bathroom and laundry is no better either with a giant hole in the wall, mould on the ceiling and the bathtub showing a bit of rust. On the bright side there is a new washing machine.
It may be first world problems but there is no internal toilet either, with only an outside dunny at the rear.
One of the bedrooms has a piano and a stack of boxes, while the living room also has its own piano and even a flat screen TV with the bubble wrap still on.
The backyard has a Hills hoist, rear lane access and appears to be a dumping ground with rubbish scattered at the rear.
Mr Bailey said the property has been in its current state for more than 20 years.
While there is no formal price guide yet, Mr Bailey expects that property could sell for less than a million.
“It is pretty much being sold at land value,” he said.
The deceased estate had been under the same ownership since 1986 after the former occupant paid only $21,500 for it, according to CoreLogic data.