Imagine buying a home for £45 in 1860, and 161 years later, it’s selling for $1.7million?
Well that’s exactly what’s happening to this Victorian home, which is one of Brightons oldest standing homes which was predated the suburbs first rates book in 1862, and was valued at £45 at the time, owner by the Hollows family who were farmers.
Today the home boasts 8 bedrooms and is currently registered as a boarding house. It also falls under the heritage overlay meaning the facade must be preserved.
It’s being sold ay auction on August 14th for $1.7 – $1.8million and due to it’s history, the new owner will not be able to pull it down.
Listing Agent, Matthew Iaco said that a bumper first auction held before lockdown drew 60 people and the properties attractive price point below $2million for a 470sqm block 800m from the beach were major drawcards.
Interest has come from various buyers, such as first home owners, renovators, investors and even parties keen to keep it as a boarding house.
Only time will tell at Auction next week as to what will happen but it’s definitely an interesting one to watch.