‘Gingerbread house’: Terrace near new fish market sells for nearly $2.8m
Sydney Morning Herald
by Robyn WillisFebruary 21, 2026
AI-Generated Deep Dive Summary
A three-story terrace in Glebe, affectionately nicknamed the "gingerbread house," sold at auction for $2.78 million after a spirited bidding battle between two determined buyers. The property, located at 38 Bellevue Street, had an opening bid of $2.4 million and saw incremental bids increase by $1000 to $3000 before reaching the final amount. Despite having only two registered bidders, the auction generated significant competition, ultimately driving up the sale price. The property's reserve was set at $2.6 million, and it had previously sold for $650,000 in 2000, reflecting a substantial increase in value over two decades.
The "gingerbread house" boasts four bedrooms, two bathrooms, and a unique feature—a loo under the stairs. Its elevated position on a quiet street offers proximity to popular amenities, including Wentworth Park and the newly established Sydney Fish Market. The property also features rear-lane access, adding to its appeal as an investment opportunity. Ray White Touma Taylor agent Walter Burfitt-Williams praised the successful bidders for their astute decision-making, noting that such a property could potentially fetch millions more if located in high-demand areas like Darlinghurst or Redfern.
The auction highlights the competitive nature of Sydney's real estate market, where even properties with fewer registered bidders can attract intense bidding due to strong demand. Emma Brown-Garrett, the auctioneer, observed that while registration numbers may be lower this time of year, motivated buyers are willing to compete fiercely for desirable assets. This trend underscores the city's ongoing allure as a prime location for investment and living.
In another notable sale, a four-bedroom bungalow
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Originally published on Sydney Morning Herald on 2/21/2026