By Alex Mitchell and Allanah Sciberras

It is becoming less likely a mistakenly kidnapped grandfather will be found alive after police raided an abandoned house they believe is linked to the botched abduction. 

Police said “hope is fading” for 85-year-old Chris Baghsarian, who was taken captive a week ago when three men stormed his Sydney home and bundled him into an SUV.

Officers searched a derelict property in the semi-rural suburb of Dural on Sydney’s north-west outskirts on Thursday night after identifying it as a makeshift stronghold for the kidnappers.

But there was no sign of the hostage, and police on Friday admitted things didn’t look good for his safe recovery.

“It’s been seven days now, so hope is fading,” Detective Acting Superintendent Andrew Marks said.

“We have grave concerns for his safety, but we won’t give up trying to find him.”

No one lives at the Dural property, described by police as derelict and out of view from the street.

Police believe the property was seen in videos that emerged of the grandfather being restrained in a previously unknown location.

“Good old fashioned policing” lead authorities to Dural, Det Act Supt Marks said, before they were drawn to the house.

Evidence suggesting Mr Baghsarian had been at the property in the past seven days was seized, and police have established a crime scene.

The sprawling residence, last sold in 2017 for more than $3.7 million, includes a triple-garage, home theatre and in-ground pool with a waterfall feature. Seven bedrooms are set over three locations on the two-hectare property, including a self-contained cottage.

Mr Baghsarian’s family spoke publicly for the first time earlier this week, describing the kidnapping as a surreal and harrowing ordeal.

“Our family is living through a nightmare we never thought possible,” they said in a brief statement released via police.

Mr Baghsarian’s lack of personal links to any criminal or underworld activity is making the case difficult for investigators, along with his family, according to Det Act Supt Marks.

“This is not the world that they live in, it’s taken them by shock,” he said.

“They’re anxious, they’re devastated, and they want some answers, and that’s what we’re here today to try and (do).”

No ransom has been demanded, leaving police to appeal directly to the kidnappers to return the grandfather to a safe location.

Police are continuing to appeal for public assistance to help identify and arrest those responsible for his kidnapping.