Gutted warehouse in Sydney sold for $100K over its price guide.

As preliminary figures suggest Sydney’s auction clearance rate rose to an impressive 83 per cent last week — up more than 1 per cent from the same week one year ago — this gutted warehouse in Sydney’s inner west sold under the hammer for $1.73 million, $130,000 over it’s adjusted price guide.

4 White Street Lilyfield sold at auction for $1.73 million. Picture: BresicWhitney/realestate.com.auSource:Supplied

Selling agent Matthew Carvalho of BresicWhitney Glebe told news.com.au that the price guide was originally set at $1.5 million but was adjusted up to $1.6 million due to a large amount of pre-auction interest.

Six registered bidders then battled it out at auction for the Lilyfield warehouse, which was previously a workspace for a kitchen cabinetry builder, despite it’s current state being unlivable. It is completely gutted and half-renovated with exposed roofs, stripped walls and floors and scaffolding throughout.

It sold for $100,000 over its price guide, despite the price guide being adjusted up prior to auction. Picture: BresicWhitney/realestate.com.auSource:Supplied

It was eventually sold for a builder who plans to transform it into one big home — it boasts 330sqm of internal space and features two bathrooms and two car spaces.

But that’s not all Sydney had to offer. In Chippendale, another inner-city suburb, a one-bedroom apartment with no car space sold for $910,000, more than $100,000 above its reserve.

And, to rub salt into the wound, it’s not just an inner city suburb story either. In Beverley Park, a suburb about 20km south of the CBD, the extremely daggy and dated 14 Targo Road sold for $2,051,000. That’s more than $1 million per bedroom for the two-bedroom, one-bathroom home, and you don’t even get harbour views or CBD convenience.

14 Targo Road Beverley Park sold for more than $2 million. Picture: PRD Nationwide/realestate.com.auSource:Supplied

And in North Narrabeen, about 30km from Sydney’s CBD in the Northern Beaches, another rundown old estate has sold in the millions. The three-bedroom, one-bathroom house at 21 Darius Avenue sold on Saturday for $1.6 million.

21 Darius Avenue North Narrabeen sold for $1.6 million. Picture: Cunninghams/realestate.com.auSource:Supplied