Buyer needing closed-toe shoes and $1.55 million scores 'dire' Sydney property – Nine

by | Feb 18, 2023 | Engineer

Buyers with more than a million in their back pocket and sensible footwear were invited to inspect this Sydney listing in "dire need" of repairs or razing – and one threw their hand up for the winning bid.
Only three photos of 39 Parkes Street in Ryde – all aerial shots of the 575-square-metre block, with just the red roof visible – were on the listing, ahead of the auction. The property sold under the hammer on February 13 for $1.55 million, Domain's Pricefinder records show.
Due to its diabolical state, the three-bedroom house came with two inspection caveats.
"Please be aware you are entering the home at your own risk," the listing says. "We encourage the wearing of closed footwear."
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The ramshackle property with oodles of potential, on the books of agency Laing and Simmons, has been in the same family for several decades and the offering is rare for its corner position with dual access.
The home has previously been a rental, Pricefinder records show. Data dates to 2007, when the property was leased at $360 per week. The last entry shows it was tenanted at $475 per week in 2013.
"Held within the same family for over 70 years and positioned on a corner block, this once neat and appealing home is now derelict and in dire need of a complete renovation or rebuild," says the listing, handled by Laing and Simmons' Hunters Hill branch.
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The advertised auction price guide for the Ryde property is significantly below the median house price for the suburb.
The latest Domain data shows the median house price in Ryde has rocketed 18 per cent in 12 months, to sit at $2.242 million.
Over five years, the median has risen more than 31 per cent.
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The Ryde house is in an area within striking distance of the Parramatta River's Meadowbank Wharf and in a zone with highly-sought primary and secondary schools and shopping.
Public transport links are on hand – a bus to the big smoke leaves from outside the front door.
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