Set to a backdrop of worn plasterwork, exposed bricks, missing floorboards and fallen ceilings, this historic 1800s terrace is a true blank canvas on the edge of Sydney CBD.

In Surrey Street, Darlinghurst, just off Victoria Street, it offers so much potential with its 7.5m width and 280sqm of land. In its day, this would have been one of the area’s original significant terraces.

With a guide of $3.6 million it goes to auction Saturday, June 20. Based on scale and location, it’s estimated the refurbished home would command between $7 million and $8 million.

Held in the same family for decades, it’s a unique opportunity to rebuild these dilapidated interiors, within well-preserved bones. And the scale and potential is seemingly endless.

Its character and Victorian detail is on show over the 4 levels, while a large backyard, rear-lane access, and a double garage adds to the picture. With a grand facade and elevated aspect, there is plenty of scope for city and district views.

Inside, it’s dotted with fireplaces and original timber staircases. Bay windows and French doors connect oversized rooms with the outdoors, and the wide open space in the backyard is ready to be unlocked.

In one of Darlinghurst’s best locations, Surrey Street is a renowned tree-lined avenue. A couple of doors to Victoria Street dining spots, it’s peaceful and green, with drawcard eateries such as Buffalo Dining Club, A Tavola, and the original Gelato Messina at your door – this is where the area’s iconic ‘eat street’ began. 

The thriving pocket is home to CBD transport links, St Vincent’s Hospital and a short walk to harbour foreshore, Potts Point and Oxford Street.

With potential for subdivision (subject to council), other landmark homes in this street have become dual-living opportunities with sensitive design ideas.

Handy to the Eastern Suburbs, the beaches, and the city, these chances don’t come up often.

112 Surrey St, Darlinghurst
5 bedrooms, 2 bathrooms, 2-car garage