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Knockdown cottage in leafy St Ives sells at auction for $2.53 million



Sold under the hammer – 3 Kitchener Street, St Ives.

A bidding war erupted at the auction of an old home in St Ives on Thursday night, with a young family spending almost $1 million over the reserve to make a move from a city apartment into a house.

It was the first time 3 Kitchener St had been offered for sale in more than 50 years, and it was marketed by Craig Ireson, of McGrath Castle Cove, as a knockdown.

MORE: Beach cottage to change hands after 110 years

Why buyers are scrambling to get rundown homes

It came to market with a guide of $1.35 million to $1.55 million, and this was very quickly raised to the upper end following the high level of interest in the 923sqm property.

Mr Ireson said 55 contracts were issued during the…

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