In a bold display of how heated the Sydney property market is, the narrowest home in Sydney is expected to sell for upwards of $700,000.
At only 2.85m wide, with an internal area of 48 square metres and a land area of 38 square metres, the two-storey Victorian terrace at 29 Terry St, Surry Hills, is roughly the same size as a one-bedroom unit – or just enough room to swing a cat, the Daily Telegraph reports
According to CoreLogic RP Data, the property was last sold in 1981 for $54,000, but is expected to sell for much more when it goes to Auction on Saturday.
First National Spencer & Servi’s selling agent, Annie Hodgson told the Daily Telegraph
that a number of interested buyers had walked through the home so far, with more than six contracts handed out and strong interest from investors.
“It had been rented out and is looking a little sad and sorry,” Hodgson said.
“It needs an enormous amount of work. I don’t think anyone who buys it would put tenants straight back in it.”
Depending on the quality of renovations, Hodgson said the property could have a rental return of between $600 and $650 a week.
“That little street is coming alive, it’s been dormant for so long. All those streets around there below Riley St have been quite gentrified and have been changing a lot,” she told the Daily Telegraph
“In that lower part down to Elizabeth there are some little pockets there that people are stumbling across and realising the potential.
“This is one in a cute little row of narrow little terraces; it’s like a backstreet in Melbourne.”