Latest news with #DavidServi
Daily Mail
2 days ago
- Business
- Daily Mail
This looks like nothing but an empty concrete lot - but what's underneath is actually worth $2MILLION
A concrete slab not much bigger than a driveway that has been used as a parking spot for years is now for sale. While the slab of concrete itself isn't worth much, the dirt that it's covering - in yet another indication of Australia's dire housing market - is worth millions because of it's location in the trendy Sydney suburb of Balmain. There's no waterfront view, in fact, at the rear of the property is a three-story high brick wall, and there's no backyard to speak of, yet the owners are confident of a quick sale and have listed it with a price guide of $1.5 million to $2 million. An inspection for the property was held on Saturday with respected real estate firm Spencer & Servi in charge of the sale. Director David Servi confirmed that an entire group of interested buyers showed up for the inspection and that he has received a lot more inquiries over the phone. 'Because it's a vacant block of land with a cyclone fence across the front of it, you can see the whole thing from the street,' he told 'And there's nothing to show them – I can't exactly show them the tennis court or the swimming pool.' The propety's listing on the website caslls it 'a rare and exciting opportunity in one of Sydney's most tightly held inner-west locations'. Houses in the area sell for a median asking price of $2.4 million and the 221sqm empty slab is a rare commodity in the built-up inner west suburb. The property is close to Balmain's 'vibrant' cafes and shops, is with walking distance of Sydney Harbour, and is close to bus and ferry transport links. 'Whether you're an architect, investor, developer, or owner-builder, this is your chance to secure a piece of blue-chip Balmain.' Earlier in the year a similar piece of land which was even smaller sold for $1.5 million in the same suburb. That property was only 134sqm and advertised as the 'ultimate blank canvas for your dream home'.
Daily Telegraph
3 days ago
- Business
- Daily Telegraph
Balmain ‘driveway' set to sell for millions
A concrete lot in Sydney – used as a parking spot for years by neighbours – has been listed for sale for around $2 million. The block is a rare commodity as a vacant block in Balmain, where houses sell for a median price of $2.46 million. The 221sqm property is marketed at a price guide of $1.5 million to $2 million. A similar sale occurred in May when a smaller block in Balmain sold for $1.5 million. An open inspection was held for the property on Saturday, with listing agent Spencer & Servi director David Servi saying one group of interested buyers turned up. 'Because it's a vacant block of land with a cyclone fence across the front of it, you can see the whole thing from the street,' he said. 'And there's nothing to show them – I can't exactly show them the tennis court or the swimming pool.' Mr Servi said there had been more interest through inquiries over the phone. MORE: Stubborn homeowners get huge payout He added that he was not sure of the block's history or why it had not been built on previously. According to the land was sold back in 2012 for $765,000, with concept art added in the same year showing plans for a small modern home to be built. The block has similar frontage to neighbouring properties despite being used as a parking spot for many years. It's understood the neighbours who have been parking at the space will need to find a new location to park, with the property going to auction on Saturday, August 2. MORE: Wild sum Aussie renters are losing each year
News.com.au
3 days ago
- Business
- News.com.au
Balmain ‘driveway' set to sell for millions
A concrete lot in Sydney – used as a parking spot for years by neighbours – has been listed for sale for around $2 million. The block is a rare commodity as a vacant block in Balmain, where houses sell for a median price of $2.46 million. The 221sqm property is marketed at a price guide of $1.5 million to $2 million. A similar sale occurred in May when a smaller block in Balmain sold for $1.5 million. An open inspection was held for the property on Saturday, with listing agent Spencer & Servi director David Servi saying one group of interested buyers turned up. 'Because it's a vacant block of land with a cyclone fence across the front of it, you can see the whole thing from the street,' he said. 'And there's nothing to show them – I can't exactly show them the tennis court or the swimming pool.' Mr Servi said there had been more interest through inquiries over the phone. He added that he was not sure of the block's history or why it had not been built on previously. According to the land was sold back in 2012 for $765,000, with concept art added in the same year showing plans for a small modern home to be built. The block has similar frontage to neighbouring properties despite being used as a parking spot for many years. It's understood the neighbours who have been parking at the space will need to find a new location to park, with the property going to auction on Saturday, August 2.
