Heritage Hackney villa hits market following unfinished renovation

A heritage bluestone villa, which broke records when it sold just two years ago, has fallen victim to an unfinished renovation and is now in need of a new owner to restore its former grandeur.

Mocatta House at 5 Osborne St, Hackney, has been stripped bare by its vendor, who paid a staggering $3.52m for it in 2023.

That price set a record for homes in the inner-eastern suburb, with the owner immediately gutting several of Mocatta House’s 11 main rooms, including the kitchen and a sunlit rear conservatory.

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The Hackney home at 5 Osborne St broke its suburb’s price record when it sold for $3.52m in 2023.

The owner planned on renovating it.

They started the renovations, just never finished them.

Parts of the home were gutted.

Plans were approved for a new three-bedroom home to be built on the property’s once lush grass tennis court but selling agent Amity Dry, of Ouwens Casserly Real Estate, said the owner was now moving onto other projects and selling Mocatta House in its bare-bones state.

Sold as separate titles, Ms Dry expected the original 1880 home, which comes with an in-ground pool, could fetch about $3.5m and the vacant tennis court block, on 544sqm, would go for about $1.63m (or $3000 per sqm).

The entire 1883sqm property could also be sold as a whole by negotiation, Ms Dry said.

“As often happens, plans change and other projects have come up,’’ Ms Dry said of the owner’s decision to sell Mocatta House.

“They don’t have to sell this – they would happily sell the (tennis court) block and still do the (renovations to the) house itself if that’s where the interest (from buyers) lies or if someone comes along and says this (existing residence) is my dream home then that’s good too.’’

Ms Dry said the vendor had initially intended to live in the original home and sell the planned new tennis court dwelling.

Not all of the house has been gutted though.

There is currently no functioning kitchen …

… Or bathrooms.

But the bones of the house remain and they offer the new owners a blank canvas.

She said the exterior facade of Mocatta House was subject to heritage restrictions but there was enormous potential to convert the interior into something special.

The house had been in an “OK condition” when the vendor purchased it but needed updating, Ms Dry said.

She said many of the rooms only needed repainting and a floor sand and polish but the home currently had no bathrooms, rendering it unliveable.

“For me, what makes it exciting is that it’s just the four walls – nothing has been done to the wet areas and you can do what you want rather than have someone else come in and do it (to their tastes),’’ she said.

“It’s a landmark home in Adelaide, with the blank canvas of the bluestone return veranda villa.

“It’s pretty rare that you would find something in this condition so close to the city these days.’’

Offers close Tuesday, June 24 unless sold prior.

– by Lauren Ahwan

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