How It Sold | By Michael Bleby | April 15, 2024
An oversized one-car garage with power on a separate title in Roslyndale Avenue, Woollahra was the weekend's most intriguing property sale in the AFR's How it Sold column, selling for $500,000 off-market. The garage was sold by The Agency's Davide Talone, who said they were highly sought after in Woollahra as parking is limited in the area.
"Having a garage is like having gold in that suburb," Mr Talone told the AFR.
"The value of it would have been viewed differently depending on what you owned within that area. That space would be more valuable to people who own homes versus someone who would own an apartment."
"A car space in Paddington or Woollahra is generally 10-12 per cent of the overall value of the property per space – if you’ve got a $1 million home, the garage is worth $100,000 to that home. If you own a $6 million home, that garage is worth $600,000 to that home."
Read the online story HERE.
