Family’s huge payday for offloading 100-year investment portfolio

Savvy investors could make one purchase and snap up 10 homes as two unusual property listings hit the market in Sydney’s inner-city suburbs.

A collection of 20 inner terraces has hit the market, after being owned by one family for three generations.

The two 10-home lots in Surry Hills and Camperdown are set to go under the hammer on 27 October as part of a deceased estate, with the Camperdown lot expected to go for between $8 million and $9 million and the Surry Hills lot for around $15 million.

However, mum and dad investors have been told to be prepared for stiff competition: they’ll be going up against professional investors and developers for these rare properties.

“This is an opportunity that will bring them [investors] out of the woodwork, as they could be waiting another 90 years for something like it,” Wiseberry selling agent David Cradock said.

The lot in Camperdown has been owned by the same family for 97 years, while the Surry Hills lot has been in the family for over 80 years.

Cradock described the Surry Hills listing as a “once in a lifetime” opportunity to purchase a 10-property lot in Surry Hills, close to the popular Crown St, light rail and Moore Park.

“Each of these homes feature four bedrooms, plus a deep rear yard with rear lane access with endless opportunities to upgrade and extend,” the listing reads.

He said investors and developers may choose to buy and hold, upgrade or subdivide and resell.

The Camperdown homes have two bedrooms and are located 100 meters from Camperdown Park.

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