A renowned fishmonger family has set a new real estate record in Paddington, selling their historic 1880s terrace for an impressive $10 million. The five-bedroom residence, located at 280 Moore Park Road, has captured attention for its significant sale price, which sources confirm surpasses previous records in the area.
While Maclay Longhurst, the sales agent from Sotheby’s, was unable to disclose the exact sale price due to a non-disclosure agreement, he did confirm that the transaction set a new street record. This sale eclipses the previous record of $9.75 million, set earlier this year by Longhurst himself for a neighboring property at 302 Moore Park Road, previously owned by Mirvac CEO and managing director Campbell Hanan.
From Humble Beginnings to Record-Breaking Sale
The property was owned by Kingsley Lucas and his wife, Elissa, who purchased the double-storey residence in 2002 for $1.85 million. Situated on a substantial 377-square-meter block, the home underwent a significant renovation and extension eight years ago, which included the addition of a studio above a triple garage.
The Lucases are part of a storied family legacy in the fishmongering business, with four generations involved since 1956. Kingsley, along with his grandfather, father, and now his three children, have all contributed to the family’s business ventures, including a recently opened seafood shop in Bondi.
Architectural Charm and Modern Amenities
The Paddington terrace boasts numerous appealing features that likely contributed to its record-breaking sale. Among its assets are a rare, large level block of land, expansive rooms, and soaring ceilings. The property also benefits from a sunny north rear aspect, blending traditional and contemporary architectural styles on a dual-access block with a nine-meter frontage and a heated pool.
The buyer, who secured the home pre-auction, remains undisclosed. However, the property’s unique combination of historical charm and modern amenities undoubtedly played a role in attracting interest and achieving the record price.
Implications for the Paddington Real Estate Market
This development comes at a time when the Paddington real estate market is experiencing heightened interest and increasing property values. The sale of the Lucas family home further cements the area’s status as a desirable location for affluent buyers seeking a blend of heritage and luxury.
Real estate experts suggest that such high-profile sales can have a ripple effect, potentially driving up prices in the surrounding areas. According to industry analysts, the continued demand for properties in prime locations like Paddington is indicative of broader trends in the Sydney real estate market.
“The sale of this historic terrace is a testament to the enduring appeal of Paddington’s unique architectural heritage,” said a leading real estate analyst. “It reflects a growing trend among buyers who are increasingly valuing properties that offer both historical significance and modern conveniences.”
Looking Ahead: The Future of Paddington’s Property Landscape
As the Paddington real estate market continues to evolve, the sale of the Lucas family home serves as a landmark moment, highlighting the area’s potential for future growth and investment. With its rich history and vibrant community, Paddington remains a sought-after destination for those seeking a blend of tradition and modernity.
For the Lucas family, the sale marks the end of an era but also the beginning of new opportunities. As they continue to expand their business ventures, the legacy of their fishmongering heritage remains firmly rooted in the community, much like the historic terrace that has now passed into new hands.
