A couple in Sydney recently sold their property for $8.1 million, despite it being a rundown house with no power or water. The sale attracted significant attention due to the high price, especially given the house's condition and location in a less desirable area. The owners, Yuen Yee Lai and John Kwong Lee, had been holding out for the right buyer and finally found one after years of interest from developers.

The property is situated between a shopping center and high-rise buildings, making it attractive for potential development. Real estate agent Vanessa Kim noted that there was interest from various groups, including aged care companies and childcare centers. However, it has been reported that a hotel is planned for the site after the house is demolished.

The couple owns several other properties across Sydney, which together are estimated to be worth around $14.25 million. Their portfolio includes two apartments in Rhodes, a manor house in Strathfield, a high-rise apartment in Haymarket, and a waterfront apartment in Barangaroo. They purchased these properties between 2009 and 2014 when prices were lower.

The auction drew about 170 attendees and featured eight bidders competing for the property. Online discussions about the sale highlighted opinions on its value potential; some expected it to sell for much less than what it ultimately fetched. Despite attempts to reach both sellers for comments on this remarkable transaction, they did not respond.

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