Real Estate Rewind 1986: Historic cottage with sweeping harbour views for $700,000.

By ANNA USHER

Described as “an old colonial home”, Victoria Cottage on Clanalpine St was marketed with stunning views, a formal garden, extensive library, and a swimming pool by local agent James S. Lindsay in August 1986.

Set on 1100 square metres, buyers were immediately attracted to the property, entering through a sunken front garden bordered by old fashioned roses, daphne’s, camellias and gardenias.

“The front verandah features original Victorian lace tiles,” the Sydney Morning Herald told readers on August 3, “making for an enchanting manor house.”

Accommodation on the main floor consisted of three bedrooms, two bathrooms, a vast living/dining room, a double library, and a kitchen overlooking Sydney Harbour.

It also boasted five working fireplaces.

“On the lower level, there is a separate flat with one big bedroom, a dressing room and a bathroom, separate study, another kitchen and a very large parquetry floored living room with french doors opening to a courtyard,” the Herald said.

Originally built in 1861, the home was extended in 1960 and had a 17-metre inground pool installed by its owner, Sydney Stockbroker Frank Mullens.

With a price expectation of $850,000, the property sold at auction for $760,000.

It changed hands again – in 2005 – for $3.78m.

“Without having seen the property, it could be worth $10 million today,” local agent Robert Simeon says.