One-bedroom house at 227 Australia Street in Newtown, Sydney sold for $1.5 million
Astonishing reason why this tiny home sold for over $1.5 million
- A small house in Sydney was sold for $1.5 million
- It is 98 square meters located in Newtown
- It features the original sandstone walls from 1858
An award-winning cottage in Sydney’s inner west sold for more than $1.5 million despite measuring just 98 square metres.
The one-bedroom, one-bathroom home at 227 Australia Street in Newtown retains the original sandstone walls from when it was built in 1858.
It sold in June for an incredible $1,545,000 and was previously used as short term accommodation.
The cottage is ‘recognized for preserving the cultural heritage’ of the area and won the 2008 Marrickville Medal for Conservation.
A 98 square meter cottage in Newtown, Sydney sold for $1.5 million in June (pictured, the front of the property)
The one-bedroom, one-bathroom house is located at 227 Australia Street in Newtown (photo, the plan of the cottage)
Photos from the inside show that it has been renovated with modern cosmetic features – such as lighting and cabinets – but retains the original structure.
Sales agent Jonathan Viewey, who managed the listing of the property with Nicholas Viewey of Viewey Real Estate, said the cottage had been sold to a single woman.
Soon she will move from the Southern Highlands to the cottage with her dog.
“The cottage is only suitable for a bachelor or couple as there is no privacy,” Viewey said Nine News.
“It has a very open layout with no interior walls – it’s really just the structural walls.”
The real estate agency noted that the property’s large open-plan living space could be converted into a smaller living room and second bedroom.
The cost per square foot of the cottage is approximately $15,700, which is significantly higher than the Sydney average of $2,466.
The house retains its original sandstone walls dating back to when it was built in 1858 (pictured is the bedroom opening onto the dining room)
The cost per square foot of the cottage is about $15,700, higher than the Sydney average of $2,466 (pictured, large living room that can be converted into a second bedroom)
However, 227 Australia Street is still not the most expensive property per square foot in the area.
The record is currently held by 21 Little Riley Street in Surry Hills, a 25-square-foot one-bedroom, one-bathroom apartment with terrace that sold for $1.5 million in February.
The buyer has since rented the property for $995 a week.
Real estate in Newtown – popularly known for its unique bars, restaurants and boutiques – is in high demand with an average price for a home in the suburb of $1,647,500.