Bizarre detail in 'challenging' Sydney property sold for $1.55 million: 'Ridiculous'

·Associate News Editor
·2-min read

A property in Sydney described as "near derelict" and "challenging" by its agent has sold for $1.55 million despite its peculiar features.

The commercial terrace property on Redfern's busy Regent Street features a whopping eight toilets, one of which is located in the kitchen alongside a shower.

Images from inside the "infamous" three-bedroom property show squalid conditions, with the property in need of extensive modifications.

The property has an unassuming facade on one of the suburb's busiest streets. Source: R&W
The property has an unassuming facade on one of the suburb's busiest streets. Source: R&W

Estate agent R&W described the property as a "significant project" ideal for those who "love a challenge".

Agent Michael Xanthoudakis revealed on his Instagram the property sold for its asking price of $1,549,000, admitting it was a "challenging property" to sell.

Sharing images of the "creative" bathroom situation inside, including several unappealing photos of the property's toilets, Mr Xanthoudakis prompted a surprise reaction from users.

A shower and bathroom are installed in the property's kitchen (left) while images of the eight toilets ( pictured right) left little to be desired. Source: Instagram/ Michael Xanthoudakis
A shower and bathroom are installed in the property's kitchen (left) while images of the eight toilets (pictured right) left little to be desired. Source: Instagram/ Michael Xanthoudakis

"Absolute filth," one person remarked.

"How ridiculous," another said.

The property's two agents did not return calls when contacted by Yahoo.

Bizarre bathroom features are nothing new in the highly-competitive Sydney market, with a pair of inner-city units listed in 2020 without their own toilets.

Sydney property prices falling

But the sale comes at a time Sydney's property boom appears to be cooling.

Home prices fell 0.2 per cent in March, according to CoreLogic, with prices expected to fall further with interest rates set to rise with an impending cash rate rise from the RBA.

Reserve Bank modelling suggests house prices could fall 15 per cent in the next two years.

There is growing concern wage increases are not matching the soaring cost of everyday living, with inflation affecting a raft of expenses, notably fuel and groceries.

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