Staggering $4.6m dropped on worst house in one of the best Brisbane suburb’s
More than 11 offers of over $4 million were received for a run-down two-bedroom brick and tile house at 12 Anthony Street in Hamilton thanks to a white-hot market and potential river views.
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The worst house in one of Brisbane’s best suburbs has sold in the blink on an eye for a staggering $4.6 million, almost $3 million more than its land value.
Proof the real estate market is white hot, the near derelict post-war cottage on Hamilton Hill was snapped up within 72 hours of hitting the market on October 20.
More than 11 offers of over $4 million were received on the two-bedroom brick and tile house at 12 Anthony Street.
The dwelling, vacant for several years, sits on two prime lots totalling 1138sq m, last valued at $1.8 million in June 2020.
Built in the early 1950s, it is the ugly duckling in a street of mansions and has long been eyed off by developers.
Dwight Ferguson, who handled the sale for Ray White Ascot with Nick Kouparitsas, said he could have sold the house more than 50 times over.
“This is one of the best sales in a market that’s the strongest it’s been in my 30 years of real estate,” Mr Ferguson said.
“It fetched so much because of the location and the opportunity to get river and city views, and it stands in some of the best company in Brisbane.”
The home was owned for decades by the wealthy Tsung family, which runs Gold Coast Textiles based in Salisbury in Brisbane’s south, and has an extensive property portfolio.
The Courier-Mail can reveal the new owner of 12 Anthony Street is Godfrey Esmonde, of Holm Developments.
The young company has a string of striking multimillion-dollar projects under its belt, including PAMA apartments at Casuarina Beach, Honu residences at Moffat Beach designed by gun architect Joe Adsett, and V apartments in Clayfield with architects Hayes Anderson Lynch which was a finalist in the 2020 UDIA awards.
Mr Esmonde and his firm intend to knock down the house and build two prestige properties on the coveted site.
The sold sign went up last Friday (Nov 12) and settlement is scheduled for December 17.
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