Unliveable city cottage sold sight unseen for $1.5m

An unliveable cottage in a major Aussie city has sold sight unseen for $1.5 million, complete with caution tape across its entrance.

Located in the sought-after suburb of Auchenflower in Brisbane, the delapidated home on a 574sq m block was sold at auction by the Public Trustee on May 9.

The listing warned that no internal inspections were premitted due to the state of the house, with photos showing a precarious front staircase and wire fencing with caution tape.

“This circa-1920s character cottage sits on an elevated 574sq m block in the heart of Auchenflower,” the listing says.

“This position offers the best of both worlds, leafy suburban living just minutes from the city.”

It features high ceilings throughout and original VJs;, but the house is in “desperate need of some love and attention”.

It features four bedrooms, an original kitchen, bathroom and undercroft area that would house one car.

“The opportunity is there for you to renovate, raise or extend all subject to the right Council approvals,” the listing says, noting it is character zoned.

“You simply have to look at the neighbouring properties for ideas and inspiration of what this amazing home could become,” the listing says.

In other words, the house cannot be demolished so its new owners have their work cut out to get the residence back to a habitable state.

The kitchen features cobwebs and manky floors, as does the bathroom, which has looks like its very own biohazard.

The carpet in the bedrooms and living areas must go, while the blackened ceilings pose their own challenges.

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But in a competitive market, where the median house price in Auchenflower is $1,677,500, up 11.8 per cent in 12 months and 53.9 per cent since the start of the Covid-19 pandemic, there is no shortage of buyers.

Recent sales in Auchenflower include a four bedroom home on a 408sq m block which sold for $1.35 million in April, and a three bedroom character Queenslander which sold for $1.725 million in March.

Both were in much better condition that the delapidated cottage.

Auchenflower is a riverside suburb and one of Brisbane’s most tightly-held locations just 4km to the CBD.

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