Redfern deceased estates promote $500k and $1.4m over reserve

Auctioneer Scott Kennedy-Inexperienced throughout this afternoon’s auctions of two deceased estates in Kepos Avenue, Redfern. Image: Jeremy Piper

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Two neighbouring internal metropolis deceased estates of a former South Sydney mayor and his son have offered for enormous costs at public sale this afternoon.

First up, the smaller, dilapidated terrace with the beautiful facade on a tiny 107sqm block at 50 Kepos St, east Redfern attracted 12 registered bidders and offered for $1.81m, $510k over the $1.3m reserve value.

Subsequent, the bigger double-fronted home on a 336sqm block at 54 Kepos St attracted 10 registered events and offered for $3,805,000, an unimaginable $1,405,000 over the $2.4m reserve.

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The late mayor of South Sydney, Invoice Hartup, had purchased No. 54 Kepos St for $12,000 in 1969 and No.50 for circa $30k in 1980.

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No. 54 Kepos St, Redfern, which was the principle prize being on a 336sqm block, offered for $3,805,000, $1,405,000 over the $2.4m reserve.

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The smaller house at No. 50 was a contest between 4 builders and builders, with Shannon Suryawan of Ontrio Tasks popping out on prime — she intends to do it up and flip it.

At No. 54, an unidentified proprietor occupier, understood to dwell close by, beat three builders to the principle prize after a tense bidding warfare. He intends to maneuver his household in after a much-needed reno.

Invoice Hartup, who was Mayor of South Sydney between 1969 and 1981 and died in 2014, had purchased the bigger homein 1969 with spouse Eileen for a paltry $12,000 in 1969.

Then in 1980 they purchased the two-bedder subsequent door for circa $30,000, and 6 years later they offered it to their son, Peter, who labored at Commonwealth Financial institution, for $55k.

No. 50 Kepos St, which had a fairly facade, offered for $1.81m, $510k over the $1.3m reserve, to a developer who intends to do it up and flip it.

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The interiors of No.50 specifically are in a foul method. Image: Jeremy Piper

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With each Peter and his mom having now handed away, each properties went beneath the hammer by way of McGrath’s head auctioneer, Scott Kennedy-Inexperienced.

The beneficiary was Peter’s brother, Stephen Hartup, a Tarago farmer, who’s now planning to take a vacation round Australia. “I’m very proud of the consequence.” he mentioned.

McGrath Surry Hills agent Simon Dahdah, who shared the itemizing with principal Mark Foy, mentioned: “This has re-set the property market in east Redfern and reveals the need for householders to be in east Redfern.”

Developer Shannon Suryawan, centre in sun shades, was the purchaser of fifty Kepos St. Image: Jeremy Piper

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The auctions of the neighbouring properties attracted enormous crowds. Image: Jeremy Piper

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The sale of No.54 remains to be significantly in need of the east Redfern report, which is $5.75m for a 335sqm block at 700 Bourke St in October 2022, although that house was in much better situation.

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Within the lead as much as the public sale, Dahdah mentioned the Kepos St properties have been attracting the curiosity of house owners eager to renovate and builders.

“We’ve had 220 inquiries for No.50 and over 260 inquiries for No.54,” Dahdah had mentioned.

“And we’ve even had a woman who grew up on the street concerned about shopping for for her youngsters.”

The house is in the identical avenue as a grand terrace owned by Sydney’s present Lord Mayor, Clover Moore.

She and husband, Peter, paid $45,000 for theirs in 1978, although they now dwell in close by Moore Park Gardens.