Dated ‘sleeping beauty’ house needing ‘kiss of life’ sells at auction for over $3.2 million


Haberfield fixer upper auction

A Haberfield house sold for $3.255m at auction. Picture: Sam Ruttyn


A dated Haberfield house held in the same family for 50 years has sold for $3.255 million after a gruelling bidding war between buyers with ambitious plans to renovate.

The home on Waratah St was described as being in “original condition”, with the interior largely unchanged from five decades ago.

The listing said it was a “sleeping beauty” needing “the kiss of life”.

It was also reported to have numerous issues, with one interested party who ordered a building inspection telling The Sunday Telegraph there were expensive leakage problems.

Selling agent Ross Musso of Raine and Horne-Concord said the $3.255 million price was a significant result considering the amount of work required.

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It is understood the home on an 840sqm block could not be knocked down due to council restrictions and any renovator would have to keep the original structure intact.

This and the other issues put off some prospective buyers who concluded a renovation would be too much work, Mr Musso said.

Haberfield fixer upper auction

Auctioneer Michael Garofolo received an opening bid of $2.5m. Picture: Sam Ruttyn


Four buyer groups registered to bid and auctioneer Michael Garofolo of Cooley Auctions received an opening bid of $2.5 million.

Bidding was slow to get started and the sellers tried to revive the auction with a $3 million vendor bid.

The auction ground to a halt when bidding hit $3.15 million, with the vendors dropping their reserve to match the offer. Mr Garofolo then announced the home was “on the market”.

The declaration jolted the auction back to life and a buyer’s agent joined the fray with a $3.16 million offer. A series of bids in $1000-$10,000 increments followed and the hammer eventually dropped at $3.255 million – $5000 above the seller’s original reserve and $105,000 above the adjusted reserve.

Haberfield fixer upper auction

The buyers Sharon Teran and Silvio Teran. Picture: Sam Ruttyn


The buyers were experienced renovators Sharon and Sylvio Teran who joined the auction at the second bid. They said they liked the large block, solid build and historic features.

Ms Teran said they had been seeking a home with renovation potential because they figured it would be cheaper than buying a similar-sized Haberfield home that was ready to move into.

They were not surprised by the amount they had to pay. “We actually thought there would be more bidders,” Mr Teran said.

Family of the original owners Frank Sorrenti, who grew up in the home, said he was “happy” with the result.

Haberfield fixer upper auction

The home was described as being in “original” condition.


The auction was one of about 450 held across Sydney this week.

More than 85 per cent of auctions have produced a successful result for the sellers so far this month and housing experts said they expected this week’s clearance rate to be similar.

Other standout results included the $2.7 million paid for a red brick house on a 1448sqm parcel of land in Peakhurst in Sydney’s south.

The price for the Forest Rd house was $500,000 above the already high $2.2 million reserve. Sales records showed comparable properties had sold for under $2 million earlier this year.

898 Forest Rd, Peakhurst attracted 26 bidders.


Twenty-six buyers registered to bid with selling agent Stephen Terides of LJ Hooker-Gymea and 10 raised their bidder cards to make an offer.

Auctioneer Andrew Cooley of Avenue Auctions said builders were “all over” the sale as the large block had the potential to be transformed into a duplex site. The opening bid was $1.739 million.



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