Yahoo Finance 'Uninhabitable': Fire-bombed house in Sydney sells for almost $1m
An uninhabitable home in Sydney’s Inner West which was fire-bombed has sold for about $200,000 more than expected.
The one bedroom home on Campbell Street in Glebe was allegedly targeted by a suspected arsonist in October last year and the resident renting the property had to flee in the dead of night.
Described as a “raw property ready for revival” by its listing on Realestate.com.au, the Victorian worker’s terrace was called “uninhabitable” and “not for the faint-hearted”.
Ray White agent Peter Natoli told Yahoo News Australia while he had a “huge number of enquiries” when the listing was posted, the home “is not for everyone”.
“Based on land value it could get about [$650,000 to] $700,000,” he said.
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It went under the hammer on Saturday and sold for $916,000.
Mr Natoli told Realestate.com.au it attracted attention from 33 bidders.
“You’d think it’s a buyer’s market, or at least a price sensitive market, but that wasn’t the case with this home,” he told the site.
He added the new owners are a young couple who plan to renovate. It’s not clear if they plan on living in the home themselves.
Mr Natoli earlier said the home would attract interest - not just because of the location but also due to the “story behind it” referring to the fire-bombing.
NSW Police are yet to charge anyone over the fire-bombing.
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