In the bustling city of Sydney, the real estate market is as competitive as the waves at Bondi Beach. But quite recently, a unique property opportunity has surfaced, turning heads for its price tag and potential… but also for sparking controversy.
Before you start dreaming of your harbourside haven, you should know this surprising catch that comes with this seemingly incredible deal.
A 31-square-metre plot of land in Sydney has hit the market with a tempting $60,000 price tag. The property is a triangle-shaped plot at 9 Anderson Street in Sydney’s Lower North Shore.
It’s similar to a tiny home or a compact apartment, yet it sits in one of the city’s most sought-after areas, with the iconic Harbour Bridge practically on its doorstep and a tennis court as its neighbour.
At first glance, the $60,000 price guide seems like a steal, especially considering that the average property value in Neutral Bay is around $3 million.
But this one has a big catch you should consider. Right at the front of this little property, there’s an electrical transformer box, which is not typically what people envision when they think of their dream home.
Despite this, the real estate agency BresicWhitney, which handles the sale, remains optimistic about the land’s prospects.
‘Formerly an easement/access site, it now offers untapped potential – whether as an acquisition for immediate neighbours or something more ambitious,’ the listing read.
‘We’re expecting good buyer interest, and that it to mainly be shown from neighbours, locals and individuals seeking a unique property investment or value-add that likely won’t be available again for some time.’
Many online social media users offered creative suggestions for the triangular-shaped space. One quipped that the listing needs ‘a positive buyer who can think outside the box.’
‘With some creative thinking, this tiny block could be turned into something amazing,’ another wrote on social media.
One suggested turning it into a ‘double-story shipping container home’ and selling it for $2,000,000, while another said to ‘concrete it and rent the car spots out for $50 a day.’
‘That’s bigger than most British houses, so personally, I wouldn’t complain,’ said another.
Would you consider investing in a small piece of land with a transformer box in front? Or do you believe the best real estate investments come without such significant catches? Share your real estate advice and experiences in the comments below.
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