Fire sale: Burnt Elizabeth East home sells for $150k more than expected

An uninhabitable Elizabeth East home that was destroyed by fire has been snapped up days before it was due to go under the hammer for $150,000 more than expected.

The 1960s-built house at 114 Halsey Rd, which still stands but much of its interior has been reduced to ash and rubble, sold for $550,000.

Selling agent Sadeq Al-Khalidi, of Belle Property Mawson Lakes, said its sale was inked just before it was meant to be auctioned.

“We sold it a couple of days before the auction, the owner was really happy with the offer that we got,” he said.

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The Elizabeth East property at 114 Halsey Rd sold before auction.

It fetched $550,000, which the selling agent says was about $150,000 more than they expected to sell it for.

Much of the interior has been reduced to ash and rubble.

“It sold $150,000 above what we thought it was going to sell for.”

Mr Al-Khalidi said they had 10 registered bidders ready to go for the auction but the interstate owner was happy to accept the highest of the multiple offers they received to fast track the sale.

A developer secured the 1156sqm property, which Mr Al-Khalidi said they planned on subdiving.

Mr Al-Khalidi said last month that the property’s owner decided to sell the burnt house once it was determined it wasn’t liveable anymore.

Its charred state wasn’t enough to deter buyers though, with many signing up to bid for the property at auction weeks in advance.

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The home has been deemed uninhabitable.

A developer purchased the home.

The property was so appealing to prospective buyers because of its block size.

“It’s been appealing to buyers because of the land size and the location – it’s got a good land size so it’s a very good investment opportunity,” Mr Al-Khalidi said in June.

The property is in an area that’s close to schools, including Elizabeth East Primary and Playford International College, Lyell McEwin Hospital, and major shopping centres at Elizabeth and Munno Para.

Mr Al-Khalidi said those interested in the property had expressed interest in bulldozing it and redeveloping the site, either for one house or multiple after subdividing, or renovating it.

The property previously sold in September 2022 for $513,000, according to property records.

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