For Sale: Retro 1950s home sitting on $11m Mosman Park block
PURCHASED 20 years ago for just over $1m, this property is expected to fetch about $11m. Meet the little house that could.
IT’S the little house that could on one of Perth’s richest streets.
An old riverfront home on WA’s most expensive street has come on the market which could serve as a barometer to the fortunes of boomtime WA.
With its retro 1950s brick exterior, the home looks somewhat dwarfed surrounded by the mansions on exclusive Saunders Street in Mosman Park.
The strip includes the most expensive private residence ever sold in Australia — a sprawling 7564sq m estate bought by mining magnate Chris Ellison’s for a record $57.5m in 2009.
Other neighbours include some of the most successful business names in WA.
While the little house may look small, it sits on a 2008sq m super-block — the second biggest privately owned tract of land on the street.
It also has uninterrupted views to the river and the potential to build two houses, according to sales agent Willie Porteous.
The land is owned by Cape Bouvard billionaire Ralph Sarich who picked it up for a cool $1.05m 20 years ago.
It’s now on the market for expressions of interest around $11m it’s believed.
Mr Porteous said the property was pretty rare for the area.
“No. 31 is a fabulous block,” he said. “It has an old house which is rentable.
“It runs all the way down to the river to the high water mark.”
For those with deep pockets, nearby No. 35 Saunders Street is also up for sale with an older house.
The block is smaller at 1212sq m but is on the market with both Mr Porteous and sales agent Mack Hall for $14m as it’s considered easier to build on.
Either way, double-digit millions are the price of entry to Perth’s most exclusive private address.