NSW

Jonathan Chancellor | 5 December 2012

Pocket-sized gains for Paddington Lane, Paddington offering

A two-bedroom Paddington cottage, set on an inner-Sydney 70-square-metre landholding, was snapped up before its scheduled weekend auction for $825,000.

The Paddington Lane cottage last traded at $812,500 in July 2010.

The late 1880s renovated property is set to be rented out at around $825 a week by its new investor owner.

It traded for $545,000 in 2002 and at $515,000 in 2001.

Before that it traded at $306,000 in 1997 and at $125,000 in 1991.

Maclay Longhurst of BresicWhitney secured the latest sale after around 125 parties inspected the offering.

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