{"id":45148,"date":"2023-10-30T15:58:58","date_gmt":"2023-10-30T02:58:58","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=45148"},"modified":"2023-10-30T16:00:08","modified_gmt":"2023-10-30T03:00:08","slug":"young-couple-invests-3415000-in-unique-home-within-a-former-butchers-shop","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/young-couple-invests-3415000-in-unique-home-within-a-former-butchers-shop\/","title":{"rendered":"Young Couple Invests $3,415,000 in Unique Home Within a Former Butcher&#8217;s Shop"},"content":{"rendered":"<p><strong>PHOTO: Now a residence, the building used to be a butcher\u2019s shop and then a barber shop. Photo: Anna Kucer<\/strong><\/p>\n<div id=\"paragraph-11\" class=\"\">\n<div class=\"paragraph-html\">\n<p>A young couple made a significant investment of $3,415,000 to purchase a unique home in Newtown, once a butcher&#8217;s shop, during a highly competitive auction on Saturday. They outbid a pair of downsizers and surpassed the reserve price by $415,000, exceeding both the agent and seller&#8217;s expectations. This property, located at 223-225 Australia Street and designed by architect Stephen Sainsbury, changed ownership for the first time in nearly two decades, with its previous sale price being $1.2 million.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"rhYdKVHHbC\"><p><a href=\"https:\/\/propertynoise.co.nz\/au\/aussies-rush-to-see-secret-sydney-beach\/\">Aussies rush to see secret Sydney beach<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content lazyload\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"\u201cAussies rush to see secret Sydney beach\u201d \u2014 Property News Australia\" data-src=\"https:\/\/propertynoise.co.nz\/au\/aussies-rush-to-see-secret-sydney-beach\/embed\/#?secret=gbcEewgfAz#?secret=rhYdKVHHbC\" data-secret=\"rhYdKVHHbC\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" data-load-mode=\"0\"><\/iframe><\/p>\n<p>The house offers a private courtyard and a plunge pool while retaining its original 1880s facade, the sole remaining feature hinting at its history as a former butcher&#8217;s shop and, at one point during the 1940s, a barber&#8217;s establishment.<\/p>\n<p>This auction was one of 892 scheduled in<a href=\"https:\/\/propertynoise.co.nz\/au\/?s=Sydney&amp;submit=Search\"> Sydney<\/a> that Saturday. By evening, Domain Group reported a preliminary auction clearance rate of 69.7% based on 564 reported results, with 110 auctions being withdrawn, counted as unsold properties in the clearance rate calculation.<\/p>\n<p>Thomas McGlynn, CEO of BresicWhitney and the auctioneer, expressed his satisfaction with the outcome, emphasizing the willingness of buyers to pay a premium for a one-of-a-kind property. He noted the strong competition and substantial interest from prospective buyers.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"q3ioTt91a7\"><p><a href=\"https:\/\/propertynoise.co.nz\/au\/melissa-caddicks-home-to-hit-the-market-watch\/\">Melissa Caddick\u2019s home to hit the market | WATCH<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content lazyload\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"\u201cMelissa Caddick\u2019s home to hit the market | WATCH\u201d \u2014 Property News Australia\" data-src=\"https:\/\/propertynoise.co.nz\/au\/melissa-caddicks-home-to-hit-the-market-watch\/embed\/#?secret=kU3Z5sWgBT#?secret=q3ioTt91a7\" data-secret=\"q3ioTt91a7\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" data-load-mode=\"0\"><\/iframe><\/p>\n<p>The initial price guide for the property was $2.7 million, and bidding commenced at that level, gradually increasing in $50,000 and then $25,000 increments until reaching the $3 million mark. A mix of younger couples and downsizers engaged in a spirited bidding war, with the winning buyers strategically placing their bid at the halfway point.<\/p>\n<p>Renae Dickey, the selling agent from BresicWhitney Inner West, revealed that the underbidders were a downsizing couple from Balmain who had a clear budget limit. They persisted until the price reached approximately $3.4 million, at which point it exceeded their predetermined threshold.<\/p>\n<\/div>\n<\/div>\n<p>SOURCE: <a href=\"https:\/\/www.domain.com.au\/news\/young-couple-pays-3415000-for-one-of-a-kind-home-in-old-butchers-shop-2-1245142\/\">DOMAIN<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: Now a residence, the building used to be a<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/young-couple-invests-3415000-in-unique-home-within-a-former-butchers-shop\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":45149,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478128259,478126325,478098668,478099371,478098971,478099687,478107234,478128260,478128262,478126583,478098640,478125910,478128258,478128261,478108694,478100488,478101376,478128263,478101979,478103893,478111041,478127585,478120185],"class_list":["entry","author-data123nz","post-45148","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-1880s-facade","tag-architect-designed","tag-auction","tag-auction-clearance-rate","tag-auctioneer","tag-bresicwhitney","tag-butchers-shop","tag-competitive-bidding","tag-downsizing-couple","tag-home-purchase","tag-newtown","tag-plunge-pool","tag-private-courtyard","tag-property-price-guide","tag-property-sale","tag-real-estate-market","tag-reserve-price","tag-selling-agent","tag-sydney-auctions","tag-sydney-real-estate","tag-sydney-real-estate-agents","tag-unique-property","tag-young-couple"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - 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