Historically significant Yarraville property sells for $3.28 million, beating earlier record by almost $900,000.
A heritage-listed home in Yarraville has just been sold for a record price of $3.28 million. The property, located at 31 - 33 Somerville Road, had not been sold for more than 70 years and had been in the same family since the 1940s. The vendors' children were living in the home.
Named Airlie House, the property has four bedrooms plus a sunroom, two kitchens, two bathrooms and an attic. It is believed to have been built around 1859 by Footscray councillor and solicitor Stephen Stephens. It sits on a huge 1866 square metres of land, but the house cannot be demolished because of its heritage listing.
The property was sold by Rob Caniglia of Nicholas Scott Real Estate, one of Yarraville's first real estate agencies. The previous Yarraville record was 82 Stephen St, which sold for $2.38 million earlier this year.
"We thought it would go for $3 million but getting $3.28 million was huge for Yarraville," said Caniglia. "It's crazy, we can't keep up with the demand in Yarraville. There's not enough homes on the market and it's pushing up prices."
Caniglia said the property attracted interest from medical centres, childcare centres, residential property developers and interstate and overseas buyers from China. "It was bought by a local, but he hasn't given any indication at this stage as to what he will do with the property," said Caniglia. "The facade can't be altered but the house could undergo a partial renovation."
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