Knock­down nets $2m in fierce war

The Sunday Telegraph (Sydney) - - REALESTATE -

A CAMPSIE home sold $515,000 above re­serve in a com­pet­i­tive auc­tion with 15 regis­tered bid­ders.

The de­cay­ing cot­tage — with some char­ac­ter de­tails such as in­tact high, or­nate ceil­ings — was owned by the same fam­ily for 100 years. It sold for $1,915,000. Agent Fran­cois Vas­sil­i­ades of LJ Hooker Campsie said it looked as though the last two bid­ders for the three-bed­room home on a 510sq m block at 25 Brown­ing St could have kept go­ing be­yond $2 mil­lion.

“It’s crazy, but it was in the most sought-af­ter street in Campsie,” he said. “I thought it would sell for $1.5 mil­lion but there was a lot of com­pe­ti­tion.”

De­spite it be­ing zoned for apart­ment de­vel­op­ment, he said the new own­ers — a Campsie fam­ily — were go­ing to ren­o­vate and move in.

“But it is a knock­down,” he added.

25 Brown­ing St, Campsie was sold for the first time in 100 years.

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