95-year old vendor will "start thinking about my future" with $2.7m sale

7NEWS

4 days ago

A much-loved Californian bungalow at 55 Tyrell Street, Nedlands, Perth changed hands for the first time in 62 years on Saturday, selling under the hammer for $2.7 million, well above reserve.
The auction drew a crowd of more than 70, with neighbours spilling onto lawns and driveways to witness the historic sale. Five active bidders competed through 20 rapid-fire bids that dwindled to $500 increments before a local family secured the keys. According to listing agent Thomas Jefferson Wedge of Ray White, they plan to build a new home on the quarter-acre block.
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"It was an emotional day," said Wedge. "This sale is a great story for the neighbourhood. It's one of the most prestigious streets in Nedlands and opportunities like this are rare. The energy on the day reflected that."
The vendor, a 95-year-old woman, had lived in the home since 1963.
After the final bid, Wedge asked her what came next. Her reply: "Start thinking about my future." She plans to move in with her older sister at an aged care residence.
Set on a 1012-square-metre elevated block between Elizabeth Street and Princess Road, the heritage home blends old-world charm with redevelopment potential. Zoned R10 and close to UWA, the river and Perth's Hospital Zone, it is well positioned for long-term value.
From start to finish, the sale carried the hallmarks of a once-in-a-generation moment, an end of an era and a fresh beginning on one of Perth's most tightly held streets.
Investor wins bidding war in Gilles Plains showdown
The chill in the air did nothing to cool off the action at 11 Terry Crescent, where a fierce bidding war saw an investor outduel a homeowner for the keys to this updated Gilles Plains gem near Adelaide.
"Despite the icy weather, the bidding was hot," said Belle Property agent Mustafa Razaee. "We opened at $680,000 and it jumped in twenties, then tens. It stalled for a bit at $750,000 but picked right back up. The final result was $820,000 under the hammer."
With 26 groups inspecting the home across the campaign and between eight to fifteen bidders expected on auction day, the stage was set for competition. Placed on 661 square metres and superbly presented, the home drew attention from families, investors and developers alike.
"There was not a single piece of negative feedback," said Razaee. "Everyone loved the layout, the land size and how well it was kept."
As bidding climbed, it came down to two determined buyers, one investor and one owner-occupier, jostling for control. The investor eventually prevailed, securing the property with a decisive final bid.
The property's dual-living layout, stone-topped kitchen and leafy backyard struck a chord with those chasing lifestyle flexibility and future potential. Its location in a fast-growing suburb, within walking distance to schools and minutes from shopping and transport, added to the appeal.
"The seller was an investor too, so it was investor-to-investor in the end," said Razaee. "They saw value, and they went hard for it."
One family, 135 years. New Farm estate sells for $4.575 million
A legacy five generations deep drew a large crowd to the heart of New Farm, where the historic 810 square metre estate at 3 Mark Street changed hands for the first time since 1890.
Listed as 'Whroonga', the grand Queenslander saw bidding open at $3 million before rising in sharp $50,000 lifts, eventually shifting into $25,000 and $10,000 bids before the hammer fell at $4.575 million.
"It was high-energy bidding," said Place agent Heath Williams. "We had nine active bidders and a huge crowd of mostly families, all drawn by the block size and the potential of the site."
Although brimming with character, the 1890-built home is in poor condition, offering what Williams described as "a complete renovation opportunity" or possibly a redevelopment, subject to approvals. The buyer, a family, now holds one of the largest parcels left in this prized inner Brisbane enclave.
The four-bedroom home retains original detailing including wrap-around verandahs, timber floors, soaring ceilings and cast-iron front fencing, along with nostalgic elements like an original outhouse and mature poinciana.
With the possibility of also acquiring the neighbouring address at 1 Mark Street, which holds demolition approval, the sale hints at a future transformation for this corner of New Farm.
But for the selling family, who have held the home since the late 1800s, it was a moment of heartfelt transition.
Across the nation, auction momentum lifted across the country this week, with 1,774 homes taken to market, a near 14 percent increase in volume compared to the previous week.
It marked a standout moment for clearance rates too, with the preliminary national figure reaching 74.7 percent, the strongest early result since July last year.