A FORMER Newtown brothel could be reborn after selling through agent LJ Hooker who promised buyers ‘bang for your buck’ with the final sale price providing the vendors the ultimate happy ending.

The three-storey property with 11 bedrooms at 638 King St, Newtown sold under the hammer for $1.87 million.

Bidding opened at $700,000 with three of the five registered parties throwing in bids at the in-room auction.

Listing agent Adrian Abrook, of LJ Hooker Marrickville/Dulwich Hill said the buyer intended to turn the building back into a brothel.

“They’ve got big plans. They’re looking to dramatically change the look, style and feel of the property,” Mr Abrook said.

Mr Abrook sold the property on behalf of a mortgagee in possession and he said the sale price was in line with their expectations.

Features included an entry hall with waiting rooms, 11 client meeting rooms with shower amenities, an internal laundry and rear courtyard.

While on market, the property attracted more than 40 groups.

“Some people were looking at it as a retail or food business,” Mr Abrook said. “Other people were looking at it as either a boarding house of having a commercial component downstairs and residential upstairs.

The underbidder had hopes of running an accommodation business.

Before it was acquired by the vendors in April, the 151sq m property was the address of a business called Angel Town.

It last sold for $2.15 million in 2003, according to CoreLogic RP Data.

The sale comes a week after another brothel at 671-673 King St, St Peters sold at auction for $1.87 million.

It was listed with a price guide of $1.8 million-plus through Duncan Gordon from Raine & Horne Newtown

Formerly known as Amore, the 11-bedroom property occupied a 300sq m block over two separate titles with dual street frontage and rear access for up to five cars.

Mr Gordon said it was bought by an investor who had not yet decided what he wanted to do with the site.

“It had a commercial zoning so it lended itself to a variety of uses,” he said. “It was looked at by brothel operators, genuine investors, and people looking for shop and residences.”