Home destroyed by a fire sells for a $460,000 profit

The incinerated shell of a house at 135 Wentworth Road in Strathfield sold for $5.25 million on November 4, through private negotiation. However, it fetched $4.788 million in February last year when it was a perfectly good period home.

The vendors took the address, on a whopping 1530-square-metre block, to auction in mid-October, but was passed in after failing to reach the undisclosed reserve.

In August last year, six months after the vendors bought the weatherboard home – which had elements of Tudor-revival style – a fire ripped through. The property has made $30,000 a month as a charred skeleton.

The emergency made the news, with fire fighters called late at night to extinguish the blaze and neighbouring homes evacuated, according to television reports.

Domain’s median house price in Strathfield is $3.5 million – a bump of 22 per cent over 12 months, and 44 per cent over five years.

The extra banked on the Wentworth Road property comes as Sydney’s market continues its price downturn, and represents a 9 per cent gain in about 19 months (most of that time as a derelict eyesore). Sans liveable dwelling, which had an open-fire place, strapped beams on the ceiling, a bay window and polished floorboards, all now scorched earth, buyers have paid more for much less.

The listing photos taken from directly above show masses of singed wood and walls outlining the floorplan, which is totally exposed.

Agents for the property said the size of the land – comprising two equally-sized lots of 765 square metres – provided scope for residential development or a commercial venture.