$5m profit as teacher smashes inner-city price record

The Bourke St home of Michael Kay and his wife, Claerwen, bought for $807,500 in 2001, has been quietly listed on the Ray White Touma Group website since June and the advertisement now shows it’s sold. When contacted, Touma Group principal, Charles Touma, couldn’t reveal the sale price, though other sources have confirmed it’s achieved a whopping $5.75m. It’s not clear who the buyer is at this stage.MORE:City Gym building goes up for saleMuriel’s Wedding-style terrace for auction The previous record for a Redfern house is $4,975,000 which was achieved a year ago for a three-bedroom, three-bathroom Thurlow St terrace, designed by architect Luigi Rosselli, which is on a 168sqm block.RELATED:Redfern house price record smashed The Kay home is a four-bedroom freestanding residence on a 335sqm block, one of the largest residential blocks in the suburb. The records show approval for an extension and alteration estimated to cost $90,000 in late 2015.Described as a “trophy home” in the advertisement, it has two bathrooms, on-site parking for two or three cars with an electric gate, multiple living areas, high ceilings, study, kauri floorboards and cedar finishes.Inside fraudster Melissa Caddick's '$15m mansion'. It also offers a very private and sunny garden with terrace and a garden studio, which has access via the rear pedestrian lane. The home is close by St Jude Café and Little Eve and a short walk from the new Surry Hills Village shopping centre and apartment redevelopment.MORE: Aussie mortgage payments ‘could double’Exclusive walk-thru of Caddick’s ill gotten mansion‘Unwelcome’: Harry and Meghan ‘forced’ to downsize

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October 19, 2022 at 12:30AM
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The Bourke St home of Michael Kay and his wife, Claerwen, bought for $807,500 in 2001, has been quietly listed on the Ray White Touma Group website since June and the advertisement now shows it’s sold. When contacted, Touma Group principal, Charles Touma, couldn’t reveal the sale price, though other sources have confirmed it’s achieved a whopping $5.75m. It’s not clear who the buyer is at this stage.MORE:City Gym building goes up for saleMuriel’s Wedding-style terrace for auction The previous record for a Redfern house is $4,975,000 which was achieved a year ago for a three-bedroom, three-bathroom Thurlow St terrace, designed by architect Luigi Rosselli, which is on a 168sqm block.RELATED:Redfern house price record smashed The Kay home is a four-bedroom freestanding residence on a 335sqm block, one of the largest residential blocks in the suburb. The records show approval for an extension and alteration estimated to cost $90,000 in late 2015.Described as a “trophy home” in the advertisement, it has two bathrooms, on-site parking for two or three cars with an electric gate, multiple living areas, high ceilings, study, kauri floorboards and cedar finishes.Inside fraudster Melissa Caddick's '$15m mansion'. It also offers a very private and sunny garden with terrace and a garden studio, which has access via the rear pedestrian lane. The home is close by St Jude Café and Little Eve and a short walk from the new Surry Hills Village shopping centre and apartment redevelopment.MORE: Aussie mortgage payments ‘could double’Exclusive walk-thru of Caddick’s ill gotten mansion‘Unwelcome’: Harry and Meghan ‘forced’ to downsize