Not what it seems: Why buyers flocked to see inside this drab building
This plain, brick garage hides an incredible hipster warehouse which sold for $1.23 million at auction last Saturday.
The trendy space, located at 133 Fortescue Street, Spring Hill features exposed ceilings, concrete floors and steel beams and is walking distance from Brisbane’s CBD.
Originally built in 1950, the former stapling equipment warehouse was advertised as an “industrial-style warehouse conversion that perfectly captures the trendy street-style of Melbourne.”
Featuring rare two street access, the property attracted between 60 to 70 inspections from curious viewers.
“We never get that type of property in Spring Hill. There’s very, very limited stock on that,” Sam Mayes, Principal at Ray White Spring Hill told Yahoo7.
“We just attracted a really, really broad range of interest on it, which was really exciting.
The two bedroom, one bathroom property is 291 square metres with 187 metres of floor space. The open plan property features a large open plan living space, a retro, red-tiled bathroom and raised outdoor decking.
“A lot of the locals came and watched because they were just really interested to see what this property was like, what it would sell for, cause it’s always been a bit of a myth,” Mr Mayes said.
“We ended up with six registered bidders on the day, big crowd,” he said.
“The main attraction about it was that the second half of it, the residence was just a huge open space,” Mr Mayes said.
“I think people just went in there and just started thinking about all the amazing things they could do to it.
“Obviously, with renovations, it could be a whole lot more.”
The property was originally the city warehouse of stapling equipment company FJ House.
It was sold for $43,000 in 1978 and in 2002, the last House family owner sold the property for $502,500. The warehouse almost doubled in value to $970,000 when it was sold in 2009.
“It’s been sold multiple times and it hasn’t been really extensively renovated at all, like it’s just remained a pretty blank canvas,” Mr Mayes said.
Dad delivers baby on bathroom floor with help of triple-0 operator
Young girl killed just moments after posing for school photo
“This owner held it for eight years and he ended up not living in Brisbane anymore, so he didn’t end up doing anything to it, so that’s been passed on to the next person to do.”
The property was sold to a Brisbane local by Mr Mayes and Zac Tully of Ray White Spring Hill.