Ex-Silverchair frontman Daniel Johns still looking for buyer for Merewether investment property

Daniel Johns is still on the hunt to find a buyer for an investment property the ex-Silverchair star bought in 1996.

In February, the Straight Lines singer listed the beachside pad at 31 Ranclaud Street in Merewether with a guide of $3 million, almost 30 years after paying $360,000 for the property on the back of the international success of his band’s debut album, Frogstomp.

He had just celebrated his 17th birthday at the time he made the savvy property purchase.

The four-bedroom, two-bathroom house on 635 square metres was set to go under the hammer on April 11 however, the auction was delayed a fortnight to April 25.

The rescheduled auction has been delayed again and is set to be held in a fortnight, Presence Real Estate listing agent Chasse Ede told the Newcastle Herald.

“The campaign has been extended to give buyers more time and we expect that we will get a result before the next auction,” Mr Ede said.

“There are multiple parties on the shortlist but at that price point, we are finding that financing is a lot more challenging than it was 12 months ago.”

Mr Ede said most of the potential buyers live in Merewether.

There are four parties showing firm interest in securing the home which is located 250 metres from Merewether Beach.

“It is all local interest because they are seeing the value in it,” he said.

“We have had enquiries from people in Merewether Heights and a little further afield on the outskirts of Merewether and they want this position because it’s the ultimate being this close to the water.

“You can just walk to the beach.”

Mr Ede said the majority of interested parties have expressed interest in renovating the house which has been leased to the same tenant for several years.

“Most of the buyers want to renovate the house rather than knock it down,” he said.

The weatherboard home has four bedrooms including a master with a walk-in robe and ensuite.

There are separate living and dining rooms, a kitchen, a study and a main bathroom, as well as an attic with air conditioning.

French doors lead out to the wrap-around verandah and fenced backyard.

The median house price in Merewether is $1.82 million, according to CoreLogic.

Rock star and savvy property investor

When Johns bought the house on Ranclaud Street in 1996, Silverchair was riding high on the back of the success of their debut single, Tomorrow, from the album, Frogstomp, after signing a worldwide three-album recording contract.

The group’s estimated gross earnings in 1995 were $6.4 million, according to an article published in the Australian Financial Review in April 1996.

The band had just begun recording its follow-up album, Freak Show, when Johns purchased the house on Ranclaud Street.

It was the first property investment for Johns who went on to buy a two-bedroom shack near Merewether Beach for $645,000 just a few months later.

In 2000, Johns paid $1.4 million for a sprawling 1970s five-bedroom home overlooking Merewether which is where the musician continues to reside.

Johns’ latest solo album, FutureNever, went to number one on the ARIA chart in 2022.

This article originally appeared on view.com.au.