ANNANDALE · OPEN HOME
122 View Street, Annandale
The house that passed in at $5.25m and sold for $5.2m
26 October 2026
Some houses you inspect once and forget. Others you end up following for years.
122 View Street in Annandale is one of those houses for me.
I have family who live just a few doors down, so I’ve watched this property go through quite the transformation.
Purchased in June 2023 for $3,015,000, what followed was a substantial redevelopment. Not just a new kitchen and bathroom, but essentially a new house, complete with swimming pool and car stacker.
Naturally, I was curious to see how it would all come together.
When it finally came onto the market in March 2026, I went inside.
And then I stalked it for months.
I attended the auction in June, watched it pass in at $5.25 million, and only recently discovered it had sold for less than the highest bid I witnessed that day.
But let’s start with the house itself.
A big transformation, but did it all work?
There’s no question that a lot of thought, money and effort went into this house.
The interiors were beautifully finished, and I could appreciate the work involved.
But I wasn’t completely convinced by every design decision.
For me, the exterior didn’t quite have that understated, quiet-luxury feel I tend to gravitate towards.
Nothing about it said Annandale. IYKYK.
There’s a certain architectural character to Annandale, even with the newer builds. A sense of place, a nod to the suburb’s heritage, something that makes a house feel like it belongs.
This one didn’t quite have that.
It felt foreign, almost like a house from another suburb had been picked up and placed here by accident.
The neighbours had mixed opinions too.
That’s the interesting thing about renovations. You can spend an enormous amount of money transforming a house, but whether the finished product appeals to someone is another matter entirely.
And at this price point, buyers have plenty of opinions.
Annandale has plenty of opinions.
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The auction that didn’t quite get there
I attended the auction in June, which attracted just two active bidders.
One was an older couple who, from what I understood, were hoping to make the property their retirement home.
The other was a pair of guys decked out in Versace and Rolex watches.
Two very different groups, both seemingly keen.
Bidding reached $5.25 million.
And then it stopped.
The crowd seemed divided. Some were surprised it had even reached $5.25 million, while others, impressed by the marble finishes and swimming pool, thought it might go higher.
The property was passed in.
I remember thinking that $5.25 million was a substantial offer, particularly with only two active bidders.
It reminded me of another property I’d been following, 13 Nelson Street.
Initially listed around $5 million, I recall meeting the owner’s mother during an inspection, who mentioned interest around the $6 million mark.
I was floored.
After a stint as a rental and a change of agents, the house eventually sold for $4.4 million.
Which made me wonder whether 122 View Street was experiencing something similar.
Had the owners set their sights higher than what buyers were prepared to pay?
Interestingly, some time after the auction, I bumped into the older couple from the bidding at Tramsheds.
Naturally, I asked them about the house.
They told me they hadn’t been successful.
So, as far as I knew, 122 View Street remained unsold.
Where did the listing go?
I continued keeping an eye on the property.
At some point, the listing disappeared from the major property portals and Simon Pilcher’s original agency website.
Pilcher had marketed the property through Pilcher Residential, before his agency’s deal with Adrian William.
Had the owners decided to hold onto it? Were they still negotiating privately?
Then, in October, I spotted the result.
122 View Street had sold on 6 October 2026 for $5,200,000.
That’s $50,000 less than the highest bid at auction.
Now, $50,000 is relatively modest when you’re talking about a property worth more than $5 million.
But what interests me isn’t really the $50,000.
It’s the time.
The house had sat unsold for more than three months after the auction. Perhaps the owners were waiting for the right buyer, or hoping the market might turn in their favour.
Who knows?
The recorded selling agents were William Pereira and Simon Pilcher of Adrian William.
I do wonder whether one of the original bidders was approached again after the property disappeared from public advertising.
But that’s just my theory. I don’t know who bought it or what happened behind the scenes.
Given I have family nearby, perhaps one day I’ll recognise the new owners.
Wouldn’t it be interesting if it turned out to be that older couple?
So, did the renovation pay off?
This is the part I find particularly interesting. And probably the part some people will find incredibly boring.
I went digging through the development application documents to see what the transformation might have cost.
The DA cost summary lists a total development cost of $980,000, including $800,000 in construction costs.
You can explore the development application for 122 View Street (DA/2023/0737), or search the reference through Inner West Council’s DA portal for the plans and supporting documents.
Now, that’s the estimate recorded in the DA, not necessarily what the owners ultimately spent.
But let’s play with the numbers.
Purchased for $3.015 million, add the estimated $980,000 development cost, and you’re looking at just under $4 million.
Sold for $5.2 million, that’s a difference of approximately $1.2 million.
Sounds pretty good, right?
But add stamp duty, selling commission, legal fees and marketing, and my rough estimate brings that down to around $945,000 before finance and holding costs.
And that’s assuming the renovation actually came in on budget.
Still a substantial amount.
But here’s what I keep thinking about.
You’ve committed roughly $4 million to purchasing and developing a property, held it for more than three years, and potentially generated something approaching $1 million before finance and holding costs.
Was it worth it?
And what else could that capital have been doing during those three years?
I don’t know what the owners ultimately spent or made, but it’s an interesting question.
Would the same project work today?
This is what I keep coming back to when looking at renovated houses around Annandale.
Would someone buying a similar property today, undertaking a comparable redevelopment and then selling it, achieve the same result?
I’m not so sure.
And there’s another property on the very same street that’s caught my attention.
22 View Street, Annandale.
It sold in November 2024 for $2.3 million and is now back on the market with a buyer’s guide of $1.95 million, which was further revised recently from its initial guide of $2.1 million.
That’s $350,000 below its previous sale price, although a price guide isn’t a final sale result.
Interestingly, this property also comes with DA-approved plans.
I’ll be attending an open home at 22 View Street to see what’s behind the front door and what potential it might hold.
So come back for my thoughts on that one.
One house, quite the story
I find 122 View Street fascinating because I got to see so many parts of its journey.
The construction. The finished house. The auction. The unsuccessful bidders. The disappearing listing. And finally, the sale.
Most people will see a sold result of $5.2 million and move on.
But there’s so much more behind that number.
For me, that’s what makes following houses around the Inner West so interesting.
You start by wondering what’s behind the front door.
And sometimes, you end up wondering what happened after it closed.
Listing Details:
122 View Street, Annandale NSW 2038
Originally listed with Pilcher Residential with a Price Guide of $5M in March 2026
Listed with Adrian William – Link here
4Bed 3Bath 2Car
Update – Sold 6 October 2026 – $5,20,000
See you at the next Inside Open Home.
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