A structurally unsound house in need of a million-dollar renovation has sold for nearly $400,000 above reserve after a local family outbid developers to claim a rare slice of Stafford Heights. Set on a 1174-square-metre block – one of the last of its size in the suburb – the four-bedroom postwar cottage at 85 Pangeza Street triggered a six-way bidding war on Saturday, with the buyers paying $1.475 million. It marks the home’s first change of hands in almost 50 years. Bidding kicked off at $1 million and crawled in $25,000 increments until the home was called on the market at $1.1 million – near the reserve.