119 Hannan Cres, Ainslie ACT 2602

1960s cottage charm | 725m² level block | fully renovated 4 bed | inner north family position This property presents a competitively strong offering within the inner north, combining a substantial, level block with a complete, high-quality renovation. Its four-bedroom, two-bathroom configuration on 725 square metres is rare for Ainslie, typically dominated by smaller three-bedroom homes. The thoughtful renovation modernises the 1960s Riley Newsome design while retaining its character, creating immediate appeal for a family seeking a low-maintenance, move-in ready home in a prime catchment area. It serves the family and renovator market precisely, eliminating the need for further capital expenditure while securing land in a consistently high-demand locale. The decision hinges on the significant price premium demanded since its 2022 sale. The primary risk is overcapitalisation in a shifting market, paying for future potential that is already realised in the renovation. The opportunity lies in securing a scarce, large-block family property without development risk. The commercial logic is sound only if the premium aligns with recent, verified sales of comparable renovated homes on similar land. Our judgment is to proceed with caution, using this as a long-term family holding, not a short-term value play. Comparable sales context is limited but critical. The house last sold for $1,175,000 in October 2022 after 169 days on market. The current asking price reflects a substantial increase, demanding scrutiny against other recent sales of renovated four-bedroom homes in Ainslie. This disparity underscores the need for a current, block-specific valuation to justify the premium beyond the cost of the renovations completed by the vendor.