Opportunity knocks as prices fall on historic homes in Sydney’s east
Prices have fallen on some of the east’s historic homes, giving aficionados a rare chance to buy unique properties with a story.
There were $30 million hopes for the 10-bedroom Spanish Mission mansion ‘Al Cooringa’ in Bellevue Hill a year ago. Now Paul Biller of Biller Property is looking for offers of about $28 million.
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The price guide on ‘Nugal Hall’, the historic Gothic Revival-style mansion in Randwick, owned by the Campion family for four decades, has dropped from $12 million last April to $9 million this week through Tony Laing of The Agency.
And then there are the more affordable prospects — such as the six-bedroom ‘Boonerie’ at 19 Nelson St, Woollahra, on a rare 429 sqm block.
Built in 1880 Boonerie is understood to be one of three neighbouring homes designated for the daughters of a former premier and chief justice, Sir James Martin, for whom Martin Place was named. Lady Martin’s Beach at Point Piper was named after his wife.
Originally listed with a $3.9 million guide, hopes are now in the region of $3.2 million for Boonerie ahead of the July 24 auction.
“It’s a really big house in Woollahra that’s great value, with beautiful high ceilings, solid brick walls and a good-sized yard,” says Nicholas Armstrong-Smith, who shares the listing with his Century 21 colleague Steve Brajak.
‘Boonerie’ has been the home of Paul and Ruth Russell and their three children for a decade, when they bought it for $1.66 million.
“I do think these old homes are under appreciated,” Mrs Russell said.
“I like living in a place that’s older than you are.
“Sitting in the lounge and ringing the servant’s bell is fun; there are rope light switches in most of the rooms and beautiful stained glass windows throughout the house.
“And the original workmanship in the staircase — you just don’t get these days.”
Boonerie is described as a grand Victorian manor and it’s right by the pedestrian bridge to Bondi Junction and Centennial Park.
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The Russells have enjoyed living in the house, but with their kids grown up they’re planning a sea change.
“We might head further up the coast,” Mrs Russell said.