Islington's top residential sale: Renovated 1900-built terrace sells for $2.010 million

Fernhouse, at 23 Fern Street, sold for a record-breaking $2.010 million on Saturday with Donna Spillane at Spillane Property.

The auction of the five-bedroom, three-bathroom home drew two registered bidders, both from Newcastle, who opened with a bid of $1.8 million.

"We were at $1.8 million and went into negotiations, still with the other party in the mix but we manged to negotiate a better deal with the highest bidder," Spillane Property selling agent Patrick Skinner said.

The sale of the freestanding terrace beat the previous suburb record for a residential property just one week after another home secured the title as the most expensive in Islington.

It topped the short-lived record set on November 24 following the sale of a four-bedroom home at 64 Power Street.

The sale price was undisclosed, however Harcourts Newcastle listing agent Joel Soldado said the property sold upwards of the previous record of $1.81 million.

The two-storey terrace on Fern Street was last sold in 2021 for $1,716,067, according to CoreLogic.

Prior to the sale in 2021, the home had undergone a major renovation that paired modern updates with classic period features such as high ornate ceilings, fireplaces and lacework verandahs.

In addition to the main house, the property had a two-bay garage with a self-contained one-bedroom unit with a kitchen and bathroom on the top level.

The sale of Ferndale was one of three successful auctions held by Spillane Property.

A renovated three-bedroom home at 120 Chatham Street, Broadmeadow drew huge interest from buyers with seven of the 18 registered bidders active in the auction.

The bidding started at $1.12 million and the property sold under the hammer for $1.45 million.

"That one sold well in excess of the reserve," Mr Skinner said.

"It had 18 registered bidders and it was a beautiful home so people just fell in love with it and were willing to pay whatever it took to get the property on the day."

Spillane Property also sold a three-bedroom cottage at 21 McIsaac Street in Tighes Hill for $950,000 after an opening bid of $820,000, with two registered bidders.

In Cooks Hill, seven registered parties turned out at the auction of a two-bedroom gun barrel-style cottage on 556 square metres at 179 Dawson Street.

Dalton Partners listing agent David Phelan said three engaged in the bidding which started at $1.4 million and saw the home sell under the hammer for $1.71 million after 26 bids.

"We thought at best we might get $1.6 million so to achieve $1.71 million was outstanding," Mr Phelan said.

"Two of the three active bidders were local buyers who had already sold and were waiting for the right property to come along.

"We ended up going $210,000 over the reserve price.

"It was very unexpected, however I think that reflects the low stock available, particularly in Cooks Hill, and also the fact we had two cash buyers who had been looking for a long time and didn't want to let this one go."

Mr Phelan said the buyer planned to renovate the home.

In Bar Beach, a three-bedroom renovated art deco apartment at 5/289 Darby Street drew a big crowd of onlookers, with the auction commencing at $620,000.

The property, listed with Mathew Iuliano at Mavis Property Co, was sold for $785,000.

One of the biggest auction results of the week was the sale of a luxury home at 116 Curry Street in Merewether listed with Lyndall Allan at Salt Property.

After an opening bid of $3 million, the five-bedroom, three-bathroom home sold for $3.225 million.

In Hamilton, Presence Real Estate's Matt Thompson's listing of an art deco apartment at 4/190 Beaumont Street drew four registered bidders and sold under the hammer for $702,000 after an opening bid of $600,000.

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