Gothic Revival mansion in NSW turns buyer heads
A Gothic Revival mansion in regional NSW is on the market amid growing interest in historic properties that can generate an income.
Built in 1879, 9 Deloraine Lane, is located in the heritage-listed town of Braidwood, 85km east of Canberra.
The NSW State Heritage Register added the entire town to its inventory list in 2006 with the now phased out Register of the National Estate also recognising the town in 1980.
While the property itself isn’t heritage listed, the five-bedroom Gothic Revival mansion with its 1.5ha of landscaped gardens is attracting overseas and interstate buyers for its wealth of commercial and residential possibilities.
The product of 25 years of renovations by its current owners, the well-maintained home could easily become a B&B or a wedding venue.
Its location close to the Kings Highway tourist route between Canberra and Batemans Bay is another major attraction along with Braidwood’s historical value and charm.
Endless possibilities for the future
Blackshaw Manuka sales agent Michael Fay said he thought the property was enchanting when he first saw it.
“It’s just got that sense of history, which comes with the age of the property,” he said.
“But it’s also been very sympathetically renovated back to its former glory as a Gothic Revival mansion so everything in there is basically from that period and style but with modern touches.”
When it was built in circa 1879, the property was first known as Deloraine Homestead and was the home of Braidwood’s newspaper editor.
The current owners purchased the property from a local potter and his family for $227,500 in 1996, according to CoreLogic.
Mr Fay explained the couple is selling their home due to their age and a desire to live closer to family on the coast.
But he’d received plenty of enquiries about the property from Singapore, Sydney, Melbourne and rural NSW with every buyer having different ideas about what they planned to do with the home.
“It’s definitely attracting a lot of Sydney buyers including high-net-worth people who are buying up land and properties around the Braidwood area,” Mr Fay said.
“It’s certainly an attractive area for the weekend farmers from Sydney and the property could make a very comfortable family home or it could be a business enterprise such as a short-term rental.”
Circa Heritage and Lifestyle Property Specialists’ Dominic Romeo said he could see someone from Sydney or from the Southern Highlands, south-west of Sydney, buying the home.
“This property has a good floorplan and the garden area alone certainly lends itself to nice photography, especially if you’re doing a wedding or ceremony,” he said.
However, Mr Fay said the extensive gardens were also scaring some people away from the property, particularly those looking at it as a live-in residential proposition.
“There’s a perception that there could be a lot of work in the gardens,” he explained.
“This is why I think the property fits into a commercial category because you could have somebody maintaining the gardens as part of a business production.”
As to what the future holds for 9 Deloraine Lane, Mr Fay said it offered an “open slate” to buyers.
Income potential, unique character, rural lifestyle
Mansions like this one can offer buyers several different income streams in addition to their unique character and past.
Mr Romeo said many buyers interested in historic houses planned to utilise the properties for some form of income, with the most popular being short-term rental accommodation.
“It’s almost like you’re buying two properties for the price of one because you’re using it as a residence as well as a business,” Mr Romeo explained.
Mr Romeo said he sold a 1924-built property in the heritage-listed Tasmanian town of Campbell Town last week for $1.3 million, which the buyers will utilise as commercial accommodation.
The buyers of this rundown heritage-listed Tasmanian home, Kenmore Arms, purchased the property in April for $1.4 million and plan to use it for both accommodation and a wedding venue.
Mr Romeo said historic residences’ location in rural areas was another attraction for city buyers looking for a brief escape from city life.
“The buyers I see from Sydney and Melbourne are tired of city congestion and the crime rates, especially if they’ve got younger children,” he explained.
The Braidwood property is for sale for $2.4 million-$2.6 million.