A Paddington home at 25A Warmington St, destroyed by fire in 2016, has been rebuilt and sold for an impressive $3,017,777. This price significantly exceeds the suburb’s median house price of $1.9055 million.
The property was one of two neighbouring houses that caught fire in early September 2016, reportedly due to a faulty refrigerator in the adjacent home. The owners, who had just completed renovations before the fire, were forced to rebuild from scratch.
Over the past six years, the owners transformed the property into a contemporary five-bedroom, three-bathroom home. The new construction was only occupied by the family who rebuilt it.
Ray White Paddington agent Judi O’Dea managed the auction, which saw competition between two registered bidders. Bidding started at $2.7 million and increased in $50,000 increments. After an additional $200,000 was offered, one bidder dropped out.
O’Dea described the final negotiations as “a slow process.” The property eventually sold for $3,017,777.
Vendor Michael MacKay, who witnessed the 2016 fire, had previously commented on the incident. O’Dea characterised the rebuilding process as “a real ordeal” for the vendors but noted they were “very happy” with the sale outcome.
The new owners are a family from St Lucia with one child, who had been searching for a home since March 2024. They were attracted to the property’s newly-built condition and its location within desirable school catchment areas.
The home’s proximity to Milton State School, Kelvin Grove State College, St Joseph’s Primary School, Brisbane Grammar School, and Brisbane Girls Grammar School was a key factor in the purchase decision.
Published 23-September-2024
