49sqm footprint sells for $2.18M

A tiny Paddington terrace with a 49sqm footprint has just sold for $2.18 million at auction.

The three-level apartment at  23 Queen Road, Paddington, went to auction after just six days on the market following a split-second decision from Ray White TRG agent Evan Williams. 

“We knew that a 49sqm parcel that hadn’t been available since the 90s would be very sought after,” he explains. “We had the first inspection on Saturday, with multiple parties making offers on Monday so we made a decision to host the auction on Wednesday, so 48 hours later the property was sold.”

Set behind a traditional wrought iron facade, multiple fireplaces, ornate ceiling cornices, matte black accents and copper and marble trim present a wonderfully modern offering.

The ground floor hosts a lounge, dining room and kitchen, with a private courtyard out the back perfect for al fresco dining. White walls make the space feel larger than it is, reflecting the light of a sparkling chandelier throughout the living room. The kitchen has been completely renovated, and now boasts a mirrored splashback, marble countertops, and dark wood fixtures in a rich contrast.

Take the rustic timber stairs up a floor and you’ll find the skylit bathroom and spare bedroom, with room for another sitting area.  There’s a second fireplace to warm the bedroom and a private balcony as a sweetener.

The third floor houses the final bedroom, which has been made over into a gorgeous loft. Perfectly positioned over the bed, sunshine floods in through a large skylight – and don’t worry, there’s a blind for when you want to sleep in!

With a footprint of just 49sqm, the two-bedroom property ended up selling for $230,000 more than its reserve, thanks to a bidder that fell in love ten minutes after she saw it. 

“The vendors were ecstatic, it was the first home they ever purchased back in the early 90s so there was an attachment,” Evan says. “It appealed to a broad cross-section of the market, including DINKs (double income, no kids), down-sizers, and first home buyers.”

“Seeing it turn into a bluechip asset was emotional for the vendors, they were relieved they took our advice to put it to auction.”

“Putting it to auction within six days was unusual, I’ve only done that twice, but it was absolutely the right decision.”

Address:

23 Queen Road, Paddington, NSW 2021

Agent:

Evan Williams – 0415 878 262
Ray White TRG

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