Move in and enjoy all this trophy address has to offer, or renovate and create more value as you see fit. Photos: Hive Property.
Coveted by young families for the surrounding schools and savvy buyers for capital growth, homes don’t come up often here, but when they do, they don’t last long.
Number 28 Fortitude Street in Red Hill represents a rare foothold in an aspirational suburb, where the “opportunity and options” are the greatest drawcard, according to Hive Property selling agent Josh Morrissey.
“Red Hill is one of the hottest, most prestigious areas of Canberra, with elevated views over the city. It’s highly regarded by young families thanks to the excellent schooling options. People move in and they don’t move out,” he said.
“For them, this home is a chance to buy something in a very tightly held suburb and gradually make it their own.
“On the other hand, anyone with a keen eye for the value of a suburb, the opportunity it presents over time and the compounding effect of that will see endless options to renovate this home into a turnkey, extend or knockdown and onsell it to a large buyer base.”
Mr Morrissey said Red Hill was one of Canberra’s most significant growth areas during COVID and has offered consistently impressive capital uplift outside of that.
“Essentially, the buyer can create their own value in a suburb known for exactly that,” he said.
The suburb is geographically centralised in Canberra.
Though many of the older homes in the area have been fully renovated or are knockdown-rebuilds, including huge architect-designed mansions, Red Hill retains the charm that comes with being one of the capital’s older suburbs, both in the aesthetic and the sense of community that has bloomed over time.
Set on more than 650 sqm on an elevated part of Red Hill at the base of Red Hill lookout, the home was built in the 1950s.
The price guide welcomes offers above $1.6 million.
“If you’re living in a bordering area like the Woden Valley and looking to move to a more centralised location, this is your chance to enter that market,” Mr Morriessey said.
“You’re also purchasing into a league of blue-chip properties, representing an opportunity to capitalise on the properties around you.
“The house itself also presents options. It currently has views to Black Mountain on the northeast side, but you could create enormous value by building up and capitalising on potentially great views.”
The home has a spacious and functional kitchen with electric stainless steel appliances, an open-plan living area and a dining space.
The main bedroom contains dual wardrobes and there are two additional spacious bedrooms.
The study makes for the ideal work-from-home office or space for the kids to do homework.
The timber deck is a lovely spot for a quiet cuppa or for activity from the kitchen to spill out onto.
This 1950s home is set on more than 650 sqm on an elevated part of Red Hill at the base of Red Hill lookout.
The under-house rumpus has an additional toilet and can also be used for extra storage space, and there’s a double-car garage with an automatic roller door.
The home also comes with solar panels.
Positioned a short walk to Red Hill Nature Reserve, a two-minute drive to Red Hill Shops, a short drive to Telopea Park School, Canberra Girls’ Grammar and Canberra Grammar School and just 11 minutes’ drive to the CBD, this is a trophy address anyone would be proud to call home.
28 Fortitude Street in Red Hill is open for inspection tomorrow (17 June) from 1:45 pm to 2:15 pm and goes to auction on Thursday, 29 June, at 5 pm.
To learn more about the property, call Josh Morrissey on 0437 799 234 at Hive Property, and be sure to check out all the latest listings on Zango.
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