This article is from the Australian Property Journal archive
THE heritage listed Granville Police Station has sold at auction for $1.12 million, setting a new price record for a residentially zoned property in the area.
The circa 1885 cottage was sold through agents Ray Fayad and Joseph Assaf of Laing+Simmons Parramatta & Granville.
Competitive bidding from nine registered bidders pushed the sale price a substantial $340,000 above the reserve. The property was ultimately purchased by a private community group from the Minister for Police and NSW Police Force which has signed a six month lease back agreement.
Located at 10-12 Hutchinson St, the historic property features two heritage full brick buildings connected by an attached wing. It occupies two lots covering 1210 sqm with 15 rooms, large internal courtyard, driveway access leading to three car spaces, and storage areas.
Assaf said this result effectively sets a new precedent for the area.
He noted that enquiry levels have been steadily increasing and demand is driving prices up, on occasion well above the asking price.
“Now we have a new, million plus record for the area,” he added.
Assaf said the area is on the radar of buyers, from first home buyers to upgraders and investors.
“We are seeing a lot of older style properties come to market, some in need of renovation or upgrading, which are meeting increasing demand from first and second home buyers,” he concluded.
Australian Property Journal
