Campbelltown’s Fisher’s Ghost Restaurant sells for $3.3 million
One of Campbelltown’s oldest properties, the historic Fisher’s Ghost Restaurant site, has been sold for $3.3 million, three weeks after it initially failed to sell at an auction.
Macarthur
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ONE of the Macarthur area’s oldest properties, the historic Fisher’s Ghost Restaurant, has been sold for $3.3 million, while a second heritage site has been taken off the market and a third remains on sale.
Campbelltown’s historic Fisher’s Ghost Restaurant site and its surrounding land, at 316-318 Queen St, was sold yesterday, almost three weeks after it initially failed to sell at an auction.
With a price guide of between $3.5 million and $3.6 million, the 2347sq m site, which is listed by Campbelltown Council as historically significant, went to auction through LJ Hooker Commerical, Sydney, on Thursday, June 28.
LJ Hooker Commerical, Macarthur, director of sales and leasing Darren Zammit said negotiations continued after the auction with three interested buyers before the sale was reached yesterday.
He said the buyer, a local, did not want to reveal their identity until after the six-week settlement period.
“It’s a good result,’’ Mr Zammit said of the sale. “We had a lot of interested buyers.’’
It is unknown at this stage what the buyer’s plans are for the site which has development potential for 74 residential units plus 113m2 of commercial space and with a 32m height limit, subject to council approval.
Situated on two titles, the site has three buildings and they are currently vacant.
Built in 1845, the site is one of Campbelltown’s oldest buildings but it has fallen into a dilapidated state after a fire in 2005 forced its closure as a restaurant.
Data from CoreLogic shows the site previously sold for $1.25 million in February 2003.
The property was also placed on the market last year but later withdrawn from sale.
As reported in the Macarthur Chronicle last month, the Fisher’s Ghost Restaurant site was one of three historic Macarthur area properties on the market at the same time.
The others are Leumeah’s Hollylea House and Campbelltown’s Emily Cottage.
Mr Zammit said Hollylea House, which was built in 1829, remains on the market through his agency and he flagged a buyer who was not successful in purchasing the Fisher’s Ghost Restaurant site may choose to buy Hollylea House.
Located in the Leumeah commercial precinct, the two-level commercial and retail building has a 170m2 of floor area, six strata units, a kitchenette, amenities and ducted airconditioning.
CoreLogic data shows Hollylea House last sold for $500,000 in March 2015.
Meanwhile an agent from Gold Star Real Estate, in Cabramatta, has today confirmed the three-bedroom historic Emily Cottage has been withdrawn from sale.
Zoned B4 for mixed use, Emily Cottage, at 1 Old Menangle Rd, is believed to have been built between 1823 and 1827.
CoreLogic data shows Emily Cottage previously sold for $490,000 in December 2013.