Embassies have shown interest in a sprawling property on one of Canberra's best-known streets. Subscribe now for unlimited access . Login or signup to continue reading $ 0 / $ NaN /year All articles from our website & app The digital version of Today's Paper Breaking news alerts direct to your inbox Interactive Crosswords, Sudoku and Trivia All articles from the other regional websites in your area Continue The house at 59 Mugga Way, Red Hill , is a four-bedroom, four-bathroom abode with high ceilings and jarrah wood floors.
Listed at $6.29 million, it is the second-most expensive property on Canberra's market at the moment, beaten only by an $8 million apartment listing in Kingston. The upstairs level is designed for entertaining.
Huge blue doors welcome you into an open plan space, with indoor and outdoor dining options. The property at 59 Mugga Way is one of Canberra's must expensive listings right now. Picture supplied The kitchen has a butler's pantry adjacent to a large family area.
Downstairs, a separate guest suite has an en suite and private lounge. The master suite includes a stone en suite, a private courtyard, outdoor shower, and sauna. Bedrooms have built-in robes and powder rooms.
Though the property has been used as a family home and has some interest from private investors, selling agent Sophie Luton said several embassies were considering a purchase. The blue and jarrah kitchen at 59 Mugga Way. Picture supplied "We've had constant [embassy] groups coming through each week," she said.
"The appetite is there for good properties." Ms Luton was not concerned about the house being on the market for some time. "At the top end of the market, there is always a smaller pool of buyers, so it is a case of persevering for the right buyer," she said.
As construction and land costs remain high in the territory, Ms Luton said demand for known streets like Mugga Way was not dwindling. She said buyers from embassies and the private market alike were looking for reliability. "On Mugga Way, you get a great block of land, and you get a beautiful, established house that you can move straight into.
You don't have to deal with construction costs, renovations, or finding a block and starting again. The cost of that is huge," she said. View + 5 Photos Pictures supplied "That's why existing residential properties are holding their value well.
" The house last sold at auction in 2015 for $2.4 million and has since undergone an extensive renovation. Share Facebook Twitter Whatsapp Email Copy Lucinda Garbutt-Young Journalist Lucinda is The Canberra Times' property reporter.
She was previously a producer at this masthead and a reporter at the Newcastle Herald.Got a tip? Email: l.garbutt-young@austcommunitymedia.
com.au Lucinda is The Canberra Times' property reporter. She was previously a producer at this masthead and a reporter at the Newcastle Herald.
Got a tip? Email: [email protected].
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