First day of spring and, although the pickings were a little slim out there, we did see some spirited bidding at many auctions and the sentiment overall seemed positive. Of the eight auctions we attended, six sold, and two passed in.
Of the four auctions I attended, all four sold. It must be said though that, apart from one of them, they were all A-graders and were initially well-quoted.
Kay & Burton (a.k.a. The Thunderbirds) have had a good week, with three sales over $3m in Boroondara:
60 Broadway Camberwell (Tim Picken / Scott Patterson) – almost $5m
31 Chaucer Canterbury (Richard Spratt / Daniel Bradd) – almost $4m
Land sale of note – 15 Torrington Place Canterbury – 1678m2 (James Tostevin, Marshall White) sold under the hammer for $3,250,000, therefore almost $2,000 per square metre. Importantly there is room here for a north-south tennis court, and the position is a quiet one. No doubt this underpinned the demand from five bidders. If the land had not been able to accommodate a court (15 x 32m approx.), we suspect that the result would have been very different.
A good property to visit is 51 Hawthorn Grove, Hawthorn (Nick Elmore/Tom Aylward, Jellis Craig, looking for around $6m). This is a well-designed and built modern renovation to a fairly standard brick Edwardian (importantly, you can’t really notice the extension from the street) and it should attract good competition at the right price. For me, the kitchen and open plan living area was the clear highlight – well done to the owner. http://www.james.net.au/rating/51-Hawthorn-Grove-HAWTHORN
Had a good coffee this week at Monaco’s on Camberwell Road (near Glen iris Road). Of course this is a local institution, and DiBella is the brew of choice. If you are looking for an easy place to park and friendly, quick service (while stocking up on some essential Italian pantry staples), then this is the place to go.
Until next week,
Design Smart
Architect Adam
KEW, 4 Queen St | Steven Abbott (Jellis Craig) Under Hammer: $2,865,000 - 4 Bidders (Photo: Adam Woledge)
Bidderbuzz Auction "Cracking auction and for good reason; this was a cracking house. In front of a very good crowd of 150 people, auctioneer Steve Abbott backed-up with the animated Greg Toogood put on a real show which was fun to watch. Opening firmly at $2,300,000, this auction was largely a race between three bidders early on, and it come on the market at $2,715,000. At $2,780,000 bidder 4 came into play and ultimately bought the property under the hammer at $2,865,000 which was a solid result, I thought. " (Adam Woledge)
Biggest Sale: CANTERBURY, 15 Torrington Pl James Tostevin (Marshall White); Under Hammer, $3,250,000 - 5 Bidders "The crowd spread about across a roundabout outside this top of a court position. Torrington Place looked set for a torrid battle today. An opening vendor bid of $2,600,000 was immediately lodged. A crowd member offered a $25,000 rise, bidder two offered a further $10,000, but this was flatly refused by auctioneer James Tostevin. The two traded bids until the price reached $2,750,000. With bids drying up a half time break was now called. Bidder 3 and 4 quickly weighed in at the commencement, and the price scooted to $2,910,000 where the property declared ‘on the market’. A fifth bidder jumped in and auctioneer James Tostevin was really kept on his toes. The price lingered around $2,990,000, this was deemed an odd price to stop on by Mr Tostevin, bidders 4 and 5 agreed. Some strong final bids pushed the price to $3,250,000 before it was knocked down to bidder five, and to the sound of a big round of applause." (Randall Smith)
Biggest Pass In: KEW, 28 Ross St Maurice Di Marzio (Hocking Stuart); Passed In: $2,800,000 - 0 Bidders "Auctioneer Maurice Di Marzio, alongside agents Helen Yan (Hocking Stuart), and Mark Dayman (Marshall White) made a happy team for this dual-agent listed property. But the meeting of minds, in front of a decent crowd still couldn’t raise any bids. Mr Di Marzio placed a vendor bid of $2,800,000 on his way to a half time break. The resumption was also met with no crowd action, and with his closing remark of … 'Well ladies and gentlemen I must say I'm surprised,' Mr Di Marzio passed the property in." (Randall Smith)
