Real Estate

History-loving renovator with deep pockets wanted for stunning North Adelaide home

54 Molesworth Street North Adelaide for Real Estate
Written by The ReReport
As seen in the Source link, written by on 2019-07-11 00:00:00

This Molesworth Street abode could be a renovator’s dream.

What would you do with this stunning heritage-listed family home in the heart of North Adelaide?

The $1.85 million to $2 million sale price is just the beginning of the vast sum needed to restore this once-grand Victorian home to its former glory. But boy, does it have potential.

Its high ceilings, elegant fireplaces, large rooms and hints of spotted wallpaper provide a glimpse of this 1880s Victorian villa’s grand past.

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54 Molesworth Street North Adelaide for Real Estate

This Molesworth Street abode could be a renovator’s dream.

Now the four-bedroom family home, which sits on more than 1000sqm in the heart of North Adelaide, is ready for its next owner to restore it to its former glory — preferably someone with deep pockets.

Selling agent Richard Colley of Ennis Partners understands the property, which has local heritage listing and is not subdividable, once housed a school that was run by two sisters.

The family now selling it under instructions from the public trustee has owned it for the past 40-odd years and recollects rows of hooks, long since gone, where children used to hang their bags and hats.

54 Molesworth Street North Adelaide for Real Estate

That iconic old Victorian facade.

“They (the family) moved into it in the seventies and their children were born around the corner at Calvary,” Mr Colley says.

“There would have been a lot of games of backyard cricket.

“The mother loved entertaining and there has been many a formal soiree in the massive dining room. The father was a medico and saw patients there from time to time.”

The property has retained many of its original character features over the years, including a wide veranda, a high hallway with a ceiling arch, and a wooden staircase. But there is certainly work to be done.

54 Molesworth Street North Adelaide for Real Estate

First impressions once you get inside?

“It needs a massive dose of 2020,” Mr Colley says, explaining the interior of the home has already been stripped during a past attempt at renovation.

“It was started on but wasn’t completed,” he says.

“There’s been damp work and removal of the skirting boards. It’s been stripped back to basics.”

According to Mr Colley, the home, which is on an unusually large block for the area, originally included a tennis court out the back, which could be reinstated if desired.

54 Molesworth Street North Adelaide for Real Estate

The living room has an open fire place.

There is also potential to add a backyard swimming pool, especially if the next owners decide to extend the living space up rather than back, he says, adding all plans would be subject to council consent.

The character street frontage must be retained, although it is hard to imagine anyone wanting to change the home’s pretty villa style.

Mr Colley says interest in the property has so far come from a cross section of keen renovators, ranging from builders to other medical families.

“It’s going to appeal to renovators and to young professionals wanting to secure a large foothold in North Adelaide,” he says.

54 Molesworth Street North Adelaide for Real Estate

There’s plenty of room in the backyard, which used to have a tennis court.

He suggests the buyers will likely be looking to hold the property as a long-term family home and investment, perhaps spending “a million or a million and a half” on top of the $1.85 to $2 million asking price to bring it up to scratch, then selling decades later.

“It has entertained people … and been a happy house and is absolutely ready for the next generation,” he says.