PHOTO: The block at 6 Malleny Street, Ashbury.
A property developer has made a $1.4 million dollar windfall on an abandoned Sydney home that he claimed squatters rights for.
The three-bedroom Ashbury house sold via private treaty this week, less than 18 months after developer Bill Gertos won a Supreme Court battle to keep the previously derelict home he laid claim to more than two decades ago.
The home, which had been rented out since, first hit the market in July last year, but was withdrawn from auction and listed with a sale price of $1.49 million. The guide for 6 Malleny Street was revised down multiple times since, with the property also changing real estate agents, and most recently sat at $1,425,000.
“When we started the campaign the interest levels were a little lower, but towards the end of it there were quite a few buyers chasing it,” said Paul Errichiello of Mint Property Agents.
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