Transformed Paddington garage sells for $1.415 million

19 Hopewell St, Paddington was just a garage when it sold a year ago for a whopping $822,

19 Hopewell St, Paddington was just a garage when it sold a year ago for a whopping $822,000. A year later the tiny 72sq m block is a designer two-bedroom house that fetched $1.415 million at auction. Source: Supplied

A rusty roller door in Paddington made headlines last year when it became Australia’s most expensive garage at $822,500.

Now 19 Hopewell St, Paddington has resold for a handsome sum after a total rebuild and makeover.

The near new two bedroom house on just 79sq m fetched $1.415 million in front of a 100-strong crowd and six registered bidders.

Vendors Odette Maddern and Jason Iggleden transformed the single garage in Paddington.

Vendors Odette Maddern and Jason Iggleden transformed the single garage in Paddington. Source: News Corp Australia

During the month-long auction campaign selling agent Deborah Terley of Position Realty, who also sold the garage last year, had been asking for offers over the $1.2 million mark.

On the day an initial bid of $1.25 million started the auction and four keen buyers pushed the price up.

The freestanding terrace was snapped up by a man and his son who wished to remain nameless, but vendors Jason Iggleden and his wife Odette Maddern said they were “shaking and terrified” until the hammer fell.

In Paddington the 12-month house price median has been $1.55 million according to RP Data statistics.

When Iggleden and Maddern spotted the derelict lockup garage, the potential of the city-fringe site was obvious.

“It was a quick decision. We literally saw it on Friday and by Monday we’d signed,” he said.

A crowd of about 100 people gathered to see 19 Hopewell St, Paddington go under the hamme

A crowd of about 100 people gathered to see 19 Hopewell St, Paddington go under the hammer. Source: News Limited

The former derelict garage at 19 Hopewell St, Paddington is now a glamorous terrace house

The former derelict garage at 19 Hopewell St, Paddington is now a glamorous terrace house. Source: Supplied

Sitting on just 79sq m the two-bedroom house has all the mod cons..

Sitting on just 79sq m the two-bedroom house has all the mod cons.. Source: Supplied

While the hefty price of $822,500 set a national record for a garage sale, Mr Iggleden said the location was perfect.

And it had a DA approval.

Over the past year, houses in trendy inner-city Paddington have soared 10.5 per cent, with an average sale price of more than $1.5 million.

“We were actually lucky,” Mr Iggleden said.

“When we bought, the local market wasn’t that great, but it seems like within weeks the market took off.

“I like to think it had something to do with all the attention our garage got.”

What was a drab garage is now a designer lock up car space.

What was a drab garage is now a designer lock up car space. Source: Supplied

Deborah Terley of Position Realty at the garage in 2013 before its transformation.

Deborah Terley of Position Realty at the garage in 2013 before its transformation. Source: News Limited

19 Hopewell St, Paddington fetched $1.415 million under the hammer.

19 Hopewell St, Paddington fetched $1.415 million under the hammer. Source: Supplied

The couple are now selling their two-bedroom home with approximately 130sq m of living space with inclusions such as custom-made carpet, travertine tiles, a courtyard, balcony, bathroom with double shower, a video intercom, floating stairs and bespoke carpentry.

Deborah Terley of Position Realty, who sold the garage last year, is selling 19 Hopewell St again.

“I love it. I think it’s a fantastic story. They’re such a great couple,” Ms Terley said.

“I was really looking ­forward to seeing what they did with the designs, and I was looking forward to selling it again.”

Last year when 19 Hopewell St, Paddington sold is was Australia’s most expensive garage a

Last year when 19 Hopewell St, Paddington sold is was Australia’s most expensive garage at $822,500. Source: News Limited