One-bedroom home at 227 Australia Street in Newtown, Sydney, sold for $1.5million

An award-winning cottage in Sydney’s inner-west sold for more than $1.5million despite being just 98sq/m in size.

The one-bedroom, one-bathroom home on 227 Australia Street in Newtown features its original sandstone walls from when it was built in 1858.

It was sold in June for an incredible $1,545,000 and was previously used as short-term accommodation.

The cottage has been ‘recognised for its conservation of the cultural heritage’ of the area and won the 2008 Marrickville Medal for Conservation.

The one-bedroom, one-bathroom home is on 227 Australia Street in Newtown (pictured, the cottage floor plan)

Photos from inside the home show it has been renovated with modern cosmetic features – like lighting and cabinetry – but has maintained its original structure. 

Sales agent Jonathan Viewey, who held the property’s listing alongside Nicholas Viewey from Viewey Real Estate, said the cottage was sold to a single woman.

She will soon move from the Southern Highlands into the cottage with her dog. 

‘The cottage would only suit a single or couple as there’s no privacy,’ Viewey told Nine News.

‘It has a very open-plan layout with no internal walls – it’s basically just the structural walls.’

The real estate agency noted the property’s large open living area could be turned into a smaller lounge and second bedroom. 

The cost per-square-metre of the cottage is about $15,700 which is considerably higher than the Sydney average of $2,466.

The home features its original sandstone walls from when it was built in 1858 (pictured, the bedroom which opens to the dining room)

The cost per-square-metre of the cottage is about $15,700, higher than the Sydney average of $2,466 (pictured, large living area which could be turned into a second bedroom)

However, 227 Australia Street still isn’t the most expensive per-square-metre property in the area. 

The record is currently held by 21 Little Riley Street in Surry Hills, a 25-square-metre one-bedroom, one-bathroom terrace flat which sold for $1.5million in February.

The buyer has since leased the property for $995 a week. 

Property in Newtown – popularly known for its unique bars, restaurants and boutiques – is in high demand with the median price for a home in the suburb sitting at $1,647,500.