£1,000 Camperdown terrace set to fetch $1.6 million at auction
Media release - 4th June, 2015
A three bedroom Victorian terrace located at 19 Fowler Street, Camperdown has just hit the market for the first time since 1956, when it was sold to the grandfather of the current owner for £1,000.
Located in a tightly-held pocket of Camperdown, directly adjacent to the picturesque Camperdown Oval, the terrace is expected to sell at auction for $1.6 million on 27 June, according to selling agent, Ed Tancred, a sales agent at Raine & Horne Petersham.
“It will be interesting to see what a £1,000 investment in 1956 will be worth 60 years later, without the need for any complicated modelling from an actuary attached to a merchant bank.
“The vendor sold the neighbouring terrace 13 years ago for about $311,000.
“No matter the final outcome of the auction, it’s sure to highlight the value of owning a quality, growth asset in a premier inner Sydney location for a decent period of time.”
The sale will also demonstrate the continuing robust demand for well-located inner Sydney real estate, with more than 30 enquiries registered with Mr Tancred within two hours of the listing of the terrace on the Raine & Horne website.
“The home comes with desirable features such as interconnecting living and dining areas, polished timber floorboards and high ceilings,” said Mr Tancred.
“However the clincher for many buyers is the large lockup garage with extra storage. This is a real winner in a suburb such as Camperdown where parking space is being squeezed to the limit.
“The terrace also offers scope for updating and its proximity to the city, Sydney University, the University of Technology, Royal Price Alfred Hospital and the eclectic Newtown shopping precinct is also attracting plenty of owner-occupier and investor attention.”
The property has been tenanted consistently for 13 years and is currently generating a weekly rent of $800 a week, according to Mr Tancred.
For further media information contact:
Ed Tancred, Sales Agent, Raine & Horne Petersham on 0425 211 189
Andrew Harrington, National Communications Manager, Raine & Horne on 02 9258 5400