A derelict house in Erskineville, Sydney has sold at auction for $1.31 million, realestate.com.au reports.
The home on Bridge St, which is located in a strict heritage area, was understood to have been occupied by a hoarder who skimped on maintenance and it was uninhabitable.
There was initially little interest in the home as floors were rotting, supports were buckling and ceilings had collapsed in some rooms.
But real estate agent, Adrian Tsavalas, said he was surprised when 16 buyers registered for the Saturday auction.
“Some of the bidders hadn’t even seen the house,” Mr Tsavalas said. “It was a knockdown, but you just couldn’t knock it down because of the conservation area.”
Mr Tsavalas believes the home requires about $500,000 in repairs but it is not yet known what the buyer will do with the property.
Source: realestate.com.au
