The house at 75 Bowral Rd, Mittagong, is going to auction on Saturday.Source:Supplied
A rickety old shack in the Southern Highlands left to rot for many years and dangerous for buyers to enter is set to be one property to watch go to auction this weekend.
The cottage on Bowral Rd
in Mittagong is beyond repair and is missing 80 per cent of its roof and most doors.
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And it appears the prolonged period without care has taken a toll on the property with an old fireplace, exterior walls and the roof beams are about all that is left.
The property is on a decent 763sqm.Source:Supplied
About 10 first homebuyers, developers and Sydneysiders are expected to battle it out for the keys to 75 Bowral Rd
, which has a rock bottom guide of $400,000.
CoreLogic reports this is close to $800,000 less than the median house currently in Sydney at the moment.
Ray White Mittagong selling agent Rick Mooney said buyers have been unable to enter the house at open homes because it was “dangerous”.
“We’ve have taped the house all off as it is dangerous and not safe for anyone to go inside,” he said.
The fireplace is about the only thing still intact. Picture: Sean O’Connor/Ray White MittagongSource:Supplied
The doors are off the hinges. Picture: Sean O’Connor/Ray White MittagongSource:Supplied
“Only the fireplace and the walls are about all that is left standing.”
Mr Mooney said there had been strong interest from people looking to move from Sydney to the Southern Highlands due to rising house prices.
“Even though the Southern Highlands is by no means a cheap place to buy, many Sydneysiders are finding it offers far better value for money than Sydney does,” he said.
A developer who purchases the dilapidated cottage could also look to build a duplex due to its R3 zoning.
Safety risk. Picture: Sean O’Connor/Ray White MittagongSource:Supplied
Waiting for the next chapter.Source:Supplied
The land value property is expected to cost buyers a further $27,000 in demolition costs to remove the house.
Across Greater Sydney this weekend is 1216 scheduled auctions — an increase of 471 from last weekend. Despite being the Queen’s Birthday long weekend, CoreLogic reports Sydney was still able to achieve a strong 74.1 per cent clearance rate.
Realestate.com.au shows that just three homes including 75 Bowral Rd will go under the hammer on Saturday in the Southern Highlands.
Originally published asBuyers banned from ‘dangerous’ shack with no roof