I remember when this property was last traded in 2015. There was much discussion around its value and its future potential. Was it a knock down? Would an extensive renovation serve to restore the original McIlwrath cottage with all its character and old Canberra charm? And most importantly what was the best way to maximise the beautiful position with views to the rear! When I sold 53 Duffy Street for $1 800 000 in 2015, a new benchmark in Ainslie was set. It gave confidence around buying blocks with a view to developing and building 'dream' homes.
A million dollars for a block quickly became the norm and Duffy Street cemented its reputation as one of the premium streets in the inner north.
As all markets do, they move, fluctuate and change, and in recent times the way we perceive land and building in Canberra has evolved. There is an appetite right now for building and the opportunity to build the dream in established suburbs such as Ainslie is becoming rare.
Yet one thing does not change, it is still all about the position. Orientation, location, views and block size are still the premium aspects that make the difference between one block and another.
There is no question in 2018 about the value of 55 Duffy Street.
Spectacular views towards Black Mountain and the city on 893m²
Mt Ainslie walking trails 50 metres away
Adjacent to some of Ainslie's most prestigious homes
Only footsteps to Ainslie shops (IGA, Edgar's Inn, restaurants, cafes, medical centre, pharmacy)
Moments to vibrant restaurants and bars on Lonsdale Street, Braddon
Thirteen minute bus ride to city
One of 20 McIlwraith Canberra Red brick cottages, not heritage listed
Original double brick residence (c. 1947) with two further extensions consisting of four bedrooms, three living areas, single bathroom with additional separate toilet, double garage and carport, gas connected to block
Character detailing includes high ceilings, picture rails, timber sash windows, open fireplace, antique glass, timber detailing, slate roof tiles and red brick paving
Long term tenant happy to stay
EER 0.5 Land Size 893m² Land Value $707 000 Land Rates $4 027pa (approx.)