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A South Yarra home designed by B.E. Architecture in the late 1990s scored a mega $220,000 bonus under the hammer. REPLAY PROPERTY AUCTIONS AND SEE ALL THE RESULTS.
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Weekend auctions were off to a cracking start after a luxe, two-bedroom house in South Yarra scored a $220,000 bonus under the hammer.
The bespoke, B.E. Architecture-designed pad at 9 Hawksburn Close attracted five bidders at its Saturday auction, where about 60 onlookers watched the competition take place.
It was called on the market at $2.08m before a downsizer placed the winning $2.3m offer.
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Over its campaign, the glamorous home had more than 80 inspections and was so popular that the initial price guide was lifted from $1.85m-$2m to $1.9m-$2.075m. .
Jellis Craig Stonnington auctioneer David Sciola handled the sale and said the property had been popular among investors from Sydney, empty nesters, and young professionals without kids.
“It was built in the late 90s and has a very cool design that has held up well,” Mr Sciola said.
“It’s a quiet, secluded pocket of south Yarra, like a cul-de-sac, and north facing with a really good construction. It’s just unique.”
PropTrack data shows the property last sold in 2011 for $1.46m.
10 CHERRY ST, GLEN WAVERLEY
Strong results continued when a five-bedroom Glen Waverely house flew $200,000 over reserve.
The 10 Cherry St home attracted seven bidders to its competitive Saturday morning auction, which opened with a $2.55m offer in front of a crowd of about 100 people.
A mix of families upsizing and international buyers had inspected the property over its campaign, which saw more than 88 groups come through the home.
It quickly flew beyond the $3.2m reserve, selling under the hammer for $3.4m to a family looking to move in.
Harcourts Judd White agent Jenny Gao had the $2.7m-$2.97m listing and said the Glen Waverley property was so popular some buyers had inspected it up to three times.
It features five bedrooms, five bathrooms and an open-plan layout across two levels.
BIG RESULTS IN CHELTENHAM
Two strong results were seen under the hammer in Cheltenham on Saturday.
A two-bedroom unit at 9 Woodland Drive sold for $850,000 after two buyers fought for the keys.
The 340sq m property had more than 50 groups inspect it over the campaign, including young couples, retirees and first-home buyers.
It was called on the market at $850,000 at the Saturday auction before selling to a downsizer.
Ray White Cheltenham chief auctioneer Kevin Chokshi had the $800,000-$850,000 listing.
And at 108 Centre Dandenong Rd, a three-bedroom house sold for a stellar $1.1m after four buyers competed under the hammer in front of a crowd of 53 people.
A young male buyer who brought his parents along to celebrate won the keys after placing an offer at the tail end of the auction.
Ray White Cheltenham agent Trevor Bowen said the result was the greatest the area had seen for a standard home in a long time.
“Nervous sellers were put at ease today after their property sold for $1.1m,” Mr Bowen said.
“They had already purchased their new home out of the area, with the intention of building their dream home.”
3/4 TENNYSON ST, ST KILDA
A three-bedroom Art Deco sold $40,000 above its $1.065m reserve after two young families pushed offers up to a $1.105m sale.
The 3/4 Tennyson St pad was called on the market at $1.17m.
McGrath St Kilda principal Nicole Prime said both competing buyers lived locally and the auction had a “lovely, positive vibe”.
The result came after 50 groups inspected the home, mostly comprising family buyers wanting to stay in the area.
It was first listed with a $950,000-$1.045m price tag.
26/177 POWER ST, HAWTHORN
Closer to the city in Hawthorn, a two-bedroom mid-century apartment attracted four active bidders on Saturday morning, mostly comprising first-home buyers.
While three first-timers threw their hats in the ring at the auction, they were ultimately outbid by a buyer from Queenscliffe who saw the home for the first time that morning.
She won the keys for $680,000 with an offer that exceeded the $645,000 reserve by $35,000.
The Agency Boroondara auctioneer Luke Saville said the successful buyer was looking for a city-based pad.
It was initially listed with a $600,000-$650,000 price guide.
59 WALKER ST, NORTHCOTE
A three-bedroom Northcote home with “Art Deco appeal” flew $85,000 over reserve after two first-home buyers competed at its Saturday morning auction.
Although other buyers had registered to bid, they didn’t get a chance due to the competition between the two active bidders.
Offers kicked off at $1m before rising by $25,000 to reach the $1.25m reserve.
It eventually sold for $1.335m to a first-home buyer who wanted to break into the market and loved the location.
Nelson Alexander Northcote agent David Sanguinedo helmed the sale and said he had about 100 groups through the home over its campaign.
INDUSTRIAL WAREHOUSE’S AUCTION WIN
At noon on Thursday, an industrial warehouse in Moorabbin notched an impressive $260,000 premium under the hammer, selling for $4.16m.
The 2629sq m site at 14-16 Roberna St was listed for the first time in 14 years after Ray White Commercial Oakleigh agent Ryan Amler sold it the vendors in 2009 for $1.305m.
Four bidders vied for the keys to the commercial property, before it was called on the market at $3.9m. It eventually sold to a local investor.
AUCTION REPLAYS AND RESULTS
The space has a new three-year lease to long-term tenants, hydraulic equipment supplier PJM Industrial, who have occupied the warehouse since 2018.
“The property is located in the tightly held and sought after Moorabbin industrial precinct,” Mr Amler said.
He added that he had noticed less active buyers in Melbourne’s industrial market.
“These buyers are also showing a sense of caution and seeking higher returns on assets that don’t have short to medium term upside or value add potential,” he said.
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