A renowned fishmonger family has achieved a record-breaking sale of their historic 1880s terrace, located in Paddington. The five-bedroom residence at 280 Moore Park Road was sold for an impressive $10 million, according to sources familiar with the transaction.
Maclay Longhurst, the sales agent from Sotheby’s, confirmed that the sale set a new street record, surpassing the previous high of $9.75 million. This earlier record was also set by Longhurst earlier this year for the sale of 302 Moore Park Road, owned by Mirvac CEO and Managing Director Campbell Hanan.
The Legacy of the Lucas Family
The residence was owned by Kingsley Lucas and his wife, Elissa. The couple purchased the double-storey home, situated on a generous 377 square meter block, for $1.85 million in 2002. Eight years ago, they undertook significant renovations, including an extension and the addition of a studio above a triple garage.
The Lucas family has a storied history in the fishmongering business, spanning four generations since 1956. Kingsley’s grandfather, father, himself, and now his three children have all been involved in the trade. Recently, the younger generation has opened a new seafood shop in Bondi, continuing the family tradition.
Architectural and Market Significance
The sale of the Paddington terrace is notable not only for its record price but also for its architectural features. The property boasts a large level block of land, expansive rooms, soaring ceilings, and a sunny north-facing rear aspect. It seamlessly blends traditional and contemporary architecture on a dual-access block with a nine-meter frontage and includes a heated pool.
Longhurst, bound by a non-disclosure agreement, could not reveal details about the buyer, who secured the property pre-auction. However, the allure of the rare large block and the home’s unique features likely contributed to its appeal.
Market Trends and Future Implications
This sale comes amid a broader trend of rising property values in Sydney’s inner suburbs, driven by limited supply and high demand. The Paddington area, known for its Victorian-era terraces and vibrant cultural scene, remains a sought-after location for affluent buyers.
Real estate experts suggest that this record sale could signal further price increases in the area, as buyers continue to seek properties with historical significance and modern amenities. The combination of heritage charm and contemporary living spaces is particularly attractive to high-net-worth individuals.
“The market for luxury properties in Sydney is incredibly competitive, and buyers are willing to pay a premium for homes that offer both historical value and modern comforts,” said a leading real estate analyst.
As the Lucas family moves on from their historic home, their legacy in both the fishmongering industry and the local community endures. The sale of their Paddington terrace marks the end of an era, yet it also opens new chapters for both the family and the neighborhood.
Looking ahead, the impact of this sale on the local property market will be closely watched, as it may influence future transactions and valuations in the area. With Sydney’s real estate market showing no signs of cooling, the demand for unique and prestigious homes like the Lucas’s terrace is expected to remain strong.
