Unliveable dump’s insane asking price

This 100-year-old dilapidated seaside cottage has just hit the market, with jawdropping price expectations.

This unliveable dump is expected to sell for $8m+

A dilapidated seaside cottage has just hit the market, but you may be slightly surprised by the price expectations.

The three-bedroom original 1920s beach house at 26 Ocean St, Clovelly cost its owners “a couple of hundred thousand” in 1991, according to PPD agent Thomas Fuller, but now separate sources advise there’s a guide of $8m for an August 24 auction.

PPD principal Alexander Phillips sold the three-level designer mansion next door at 24 Ocean St for a then suburb record of $9.9m in 2020 to YouTube gamer Lannan Eacott (aka LazarBeam).

“That would be worth in the mid-teens now,” says Fuller.

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The 1920s beach house sits right next door to the three-level designer mansion that sold for $9.9m in 2020.

It’s on a 450sqm block.

“This one’s going to appeal to a developer or even a local family wanting to build their dream home.”

No. 24, which is a 450sqm block, is in the name of UTS lecturer Ann Reich and her husband John Girwood, records show, who apparently raised their family at the home but moved to another of their properties several years ago.

Yes the old house, the last original on Clovelly’s northern peninsula, is charming, with its polished timber floors, high ceilings and leadlight windows.

But, as the realestate.com.au ad points out: “The location is unbeatable ... a 12m approx frontage to the ocean spectacle and views that can never be built out.

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The old house is full of charm.

But there’s little doubt it has a date with a bulldozer.

And, furthermore: “With idyllic marine parkland and the Clovelly Bowling Club just across the street, the three-bedroom home is a breezy 300m stroll down to the beach, ocean pool and surf club.”

The current Clovelly record is $13.5m for 12 Victory St, when Anthony Goodridge, grandson of the late multi-millionaire property developer and philanthropist Isador Magid, and his wife, Daniella, bought the luxury home of award-winning mortgage broker Jeremy Fisher of 1st Street Home Loans.

That sale was also negotiated via Phillips, with colleague David Tyrrell.

$8m view?

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Originally published as Unliveable dump’s insane asking price