112 Peel Street, Bathurst NSW 2795

Large block with rare 10 parking spaces | Priced well above estimates | Single bathroom for 3 bedrooms | Last sold 1993. This property presents a highly specific proposition, defined by its substantial landholding and exceptional vehicle accommodation, which is uncommon in this market. The 1,350 square metre lot and capacity for ten cars create a functional utility that serves buyers with storage, workshop, or multi-vehicle needs that standard residential parcels cannot accommodate. This configuration positions the house not as a typical family home, given the single bathroom, but as a land-based opportunity with operational flexibility, best suited to an owner-occupier requiring significant space or an investor targeting a niche commercial-residential crossover use. Its value is fundamentally anchored in the land parcel itself, not the dated improvements. The primary risk is a severe pricing disconnect, with the guide exceeding the current automated valuation by over sixty percent and recent comparable sales by a significant margin. This premium demands a commercial justification the residential market may not support, risking capital stagnation. The opportunity lies in acquiring a uniquely configured parcel below the inflated asking price, where the land’s utility can be leveraged for future subdivision, redevelopment, or a tailored use that monetizes the spatial advantages. Proceed only with a negotiated purchase reflecting its value as a land asset with a dated dwelling, not as a premium renovated home. Recent Peel Street market activity provides essential context: – 231 Peel St (4 bed, 1 bath, 1,093m²) sold for $879,500. – 98 Peel St (3 bed, 1 bath, 320m²) is asking $620,000-$640,000. – 191 Peel St (5 bed, 2 bath, 715m²) is asking $1.1M-$1.195M. This establishes that larger blocks command premiums, but the subject property’s price guide is disproportionate even to superior houses on large lots. The analysis suggests its realistic value aligns closer to the higher end of recent sales for comparable land area, not its current aspirational listing.