Fire-Damaged Gem Fetches Stunning Auction Price
A fire-damaged property at 25A Warmington Street in Paddington, QLD, has sold for $3,017,777 at auction, showcasing its restoration potential amid strong demand for unique, architecturally designed properties in the area. Domain’s national clearance rate of 63.4% indicates favourable market conditions.
The sold property boasts five spacious bedrooms, a pool, a cabana, and a distinctive design by agents Judi ODea and Michael Kleimeyer.
With multiple bidders competing for the sale, the auction highlights the desirability of such properties in Paddington, and further insight into this sale and market trends can offer a more thorough understanding of the area’s luxury property market.
Highlights
- A fire-damaged property in Paddington, QLD, sold for $3,017,777 at auction, showcasing restoration potential.
- The luxury property features five bedrooms, a pool, a cabana, and a deep louvred verandah with district views.
- Strong demand for properties in the area fueled an intense bidding war, resulting in a high auction price.
- The property’s unique design and luxury amenities contributed to its high desirability and sale price.
- The sale reflects current market trends, with high demand for architecturally designed properties in Paddington.
Recent Property Sale Details
The buyer’s prized acquisition, a fire-damaged property at 25A Warmington Street in Paddington, QLD 4064, was sold for a substantial $3,017,777 at auction. This sale showcases the potential of property restoration, transforming a damaged asset into a valuable investment.
The auction strategies employed by the sellers, including competitive bidding and a well-designed marketing campaign, played a significant role in securing this impressive sale price.
The property’s new owners, a couple with one child, previously residing in St Lucia, will now undertake the task of rebuilding the property into a stunning multi-storey home. The intense bidding war, involving two determined bidders, highlights the strong demand for properties in this desirable area.
Luxury Property Key Features
Luxurious amenities abound in the newly sold property at 25A Warmington Street, complementing its prime location in Paddington. The home boasts five spacious bedrooms, taking full advantage of the leafy district views. A pool, cabana, and deep louvred verandah are just a few luxury amenities that enhance the property’s appeal.
The self-contained lower level adds to the home’s functionality, showcasing the versatility of its design. Ray White Paddington agents Judi O’Dea and Michael Kleimeyer worked together to design the property, which reflects a contemporary architectural style.
This blend of luxury amenities and well-thought-out design makes 25A Warmington Street a truly exceptional property. Its unique features have surely contributed to its desirability and impressive auction price.
Current Market Overview
Domain’s national clearance rate of 63.4% for the recent weekend reflects a relatively strong market, despite some fluctuations. This trend is echoed in Paddington, where high demand for luxury properties is evident. The sale of 25A Warmington Street, a fire-damaged gem that fetched $3,017,777 at auction, is a prime example of this market trend.
Buyer preferences seem to be shifting towards unique, architecturally designed properties with luxurious amenities. Other notable properties for sale in the area, such as 310A Given Terrace and 56 Murruba Street, showcase the diversity of options available to buyers.
As the market continues to evolve, it’s essential to stay informed about current market trends and buyer preferences to make informed purchasing decisions.
