Derelict Sydney properties fetch millions under hammer as builder secures unlivable Coogee cottage
Sydney’s filthiest dumps just fetched millions
A builder walked away with the keys to a Coogee dump for a whopping $3.315m on Saturday.
A builder walked away with the keys to a Coogee dump for a whopping $3.315m on Saturday.
From the outside, the property looks like a cute family cottage that maybe only needs a fresh lick of paint.
29 Melody St Coogee sold for $3,315,000
Stepping inside is another story.
Listing pictures show an unlivable property with dusty, scratched floors and grimy walls throughout.
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The living room of the property.
The kitchen is a dated style with a wooden splashback and blue bench tops.
Walking through the front sunroom into the bedroom, you’ll find grime on the walls, yellowing skirting boards and two toned wooden floors covered in marks.
Bedroom one opens out into the sunroom.
The property’s kitchen.
The bathroom is a modern with white tiles reaching the room and a geometric pattern on the floor. There’s a small shower and a toilet with an adjacent toilet-shaped sink at the same height.
The backyard is paved with old, red bricks and has a small patch of grass growing in an otherwise dirt area.
Foliage is growing up into the laundry window at the back of the house and moss is growing in sections across the lower walls.
The backyard with the window to the laundry on the far right.
The property is considered a knock down with “not much to keep” and the tradie buyer is “looking to transform” the home.
A crowd of 50 to 60 people and nine bidders gathered around the property on Saturday. The bidding opened at $2.7m and crept past the $3.2m reserve price.
It’s understood the property fell into disrepair as the seller grew older. They have now moved into a nursing home after 32 years in the property.
29 Melody Street was last sold for $350,000 in 1993.
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West Sydney bomb sells for $905k
A derelict home in Sydney’s western suburbs sold for $105,000 more than what the sellers were willing to accept.
Listing pictures show rotting floorboards, missing walls, considerable grime and spider webs.
46 Penfold Street, Eastern Creek sold for $905,000
The median house price in Eastern Creek is $1.07m according to Cotality but this bomb of a property on 46 Penfold Street still caught $905,000 at auction.
When you walk into the property three bedrooms are on the right and a living rooms is partitioned off from the shared dining and kitchen space.
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One of the property’s bedrooms.
The living room and the door to the kitchen/dining on the right.
The bedroom walls, roof and ceiling are covered in marks and need a new coat of paint.
The living room has a water stain on the roof and dirty floorboards.
Heading through the door takes you into the kitchen where the floorboards are showing signs of rot and the walls appear to be growing mold.
A section of the kitchen wall is missing and a pile of rubbish sits in the corner behind the freestanding dual stove and oven.
The kitchen and free standing oven.
The bathroom walls are cracking in places and the pale blue tiles are mostly intact.
The tiles are decorated with pink flowers and match the pink bathtub and sink.
The large backyard also includes a few sheds, one of which is missing a chunk of the wall.
Saturday’s auction attracted five registered bidders with two actively placing bids.
The property’s bathroom.
Agent Basel Nahas of Laing + Simmons said the buyers were from nearby Rooty Hill.
“The bought it to knock it down and build their family home so they were very excited,” Mr Nahas said.
“The sellers were trustee and guardian so obviously it would have been a deceased estate.
“It’s a nice block of land, 702 sqm is quite spacious and it’s a family kind of street ao its very popular.
“It was a nice little pocket in a small suburb,” he said.
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Sydney socialite sells beach front dump for $20.25m
Socialite Di Maloney sold 9 Kenneth Street, Tamarama for $20.25m in a mortgagee in possession sale.
A derelict beach front property owned by a prolific Sydney socialite sold under the hammer for $20.25m – a whopping $8.95m less than when it broke the Tamarama suburb record in 2022.
The block of five rundown apartments belonged to party girl Diane Maloney but were repossessed and sold as a mortgagee in possession.
Ms Maloney has reportedly run into money troubles and recently begun selling off multiple properties to pay off her debts, including the Plaza Hotel (formerly Star Bar).
The block of five apartments includes a detached shack facing the ocean.
It’s understood Ms Maloney’s DJ son had been living in the property.
A disco ball in the dining room, peeling paint, a backyard hot tub, a taped up “VIP Area” sign on the back deck, a roof gutter in the front garden and fresh shag carpet inside.
The condition of 9 Kenneth Street creates an odd contrast but gives a glimpse into what his lifestyle may have been.
This auction was the perfect insight into the higher end of the market where prestige properties have been struggling to sell in recent months.
