Between a developer and an apartment block: a 100-year-old-home hits the market

This Woolloongabba house is on the market for first time in more than 100 years and has stood unchanged as apartment buildings shot up around it.

“It’s the original home, it’s a really big block of land,” Position Property agent Lee Marburg said.

The owners of 43 Regent Street were no longer able to keep the house in the family, which Mr Marburg said prompted the sale.

The asking price is $2.3 million and developers have had the most interest in the property. The selling agent said competition among investors would make the three-bedroom home unattainable for other buyers.

“It’s not the most attractive thing for families,” Mr Marburg said. “You’re priced out of the market there.”

Whether or not the character home is demolished will be up to the buyer. “Where it is and where it’s zoned it can just be just removed, knocked down,” he said.

Mr Marburg said other properties in the the street netted multimillion-dollar payouts from developers and the asking price was quite fair for the 1012 square metre block.

Pricefinder data shows three 502 square metre blocks in the same street sold to a developer for a total of $3.63 million last year.