A historic Yarraville home has smashed the inner-west’s real estate sale record after selling for $3.28 million.
The price tag for the heritage listed property at 31-33 Somerville Road soared $900,000 higher than the previous Yarraville record of $2.38 million set earlier this year by 82 Stephens Street.
Known as ‘Airlie House’ and later ‘The Elms’ due to the trees lining the property boundary, the vine-covered four-bedroom home was built in 1859 by Footscray councillor, factory owner and solicitor Stephen Stephens.
The home has been in the same family for decades and was offered for sale for the first time in more than 70 years.
Rob Caniglia, the property’s listing agent from Nicholas Scott Real Estate Yarraville, said the 1866 square-metre site attracted interest from prospective medical and childcare centres as well as residential developers and private buyers.
“The property itself presented numerous options for potential buyers considering both the land size and the location”.
Nicholas Scott Real Estate director Nicholas Skapoulas said more than 200 expressions of interest had been received from across Melbourne and even overseas.
“There was a tremendous amount of interest, particularly because of the land size,” he said.
“It’s one of the last chances in this area to get such a large parcel of land.”
Mr Skapoulas said the new owner is still weighing up their options for the site.
He noted Yarraville has become a sought after location over the last decade.
“Yarraville has had a considerable price increase over the years with the somewhat gentrification of the area and desire to be within driving distance to Melbourne’s CBD.”
The sale follows a record sale in neighbouring Kingsville earlier this month where 85 Empress Avenue sold prior to auction for $1.21 million, eclipsing the $1.18 million record last year set by 78 Coronation Street.
