It was a matter of who wants it more at the auction of a two-bedroom cottage in Adelaide over the weekend.
Drawn to the property for its handy location to the CBD, two registered bidders fought tooth-and-nail for the character-laden home at 224 Angas St which, in the end, sold under the hammer for $99,000 above its price guide.
Selling agent Angelo Nickolas of Harris Real Estate said the bluestone cottage, which had an auction listing price of $595,000, sold well above expectation.
“We had three bidders but most of the action happened between two of them. It was the two of them who fought it out,” he said.
“One was looking at it as an investment and the other bidder was a young couple looking to move in as they are working nearby.
“In the end it was the young couple who won (the auction).”
One of the last 13 remaining row cottages of “Elder Mews”, holding State Heritage significance and front-row seats to amenities on its vibrant doorstep, Mr Nickolas said the home attracted plenty of attention for its near-CBD location.
Funded at the bequest of Sir Thomas Elder in 1897, the cottages were built by Adelaide Workmen’s Homes as lodgings for the “honest and respectable workman” allowing residents to live close to their jobs.
Over 120 years later, his legacy lives on with, at least one of the homes, returning to a young working couple.
Set on a 296sqm block with a 9.7m frontage, it featured two bedrooms, a study, a bathroom and second toilet and an open-plan lounge, kitchen, dining area at the rear.
It also had a cellar, 3.3m high ceilings, an undercover carpark and a shared community water bill.
“We had about 60 to 65 groups through the home during the auction campaign,” Mr Nickolas said.
“It was a mixture of investors and owner occupiers who were drawn to the home for its character and charm but also for its location.
“The other thing that appealed was the cottage-style garden. A lot of people really like that.”