Yarra One: EcoWorld to do its own online auction for brand new South Yarra apartment
The developer of a fresh inner city apartment complex is offering a unique opportunity for potential first home buyers, but you’ll need to tick a few boxes.
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The developer of a boutique South Yarra complex claim it is the first to be directly selling a new apartment via an online auction during the Covid-19 pandemic.
But potential buyers will need to meet a solid set of conditions before they can have a shot at securing the one bedroom and study apartment on the 16th floor of EcoWorld International Australia’s Yarra One complex.
The Claremont St complex, which was completed in December 2020, boasts 247 apartments and a number of contemporary, wellness-focused amenities for guests.
They include parking for Tesla electric cars, pet wash and dog minding facilities, a library, wine cellar, outdoor spas, yoga room, dance studio and a gym.
EcoWorld is keeping the reserve price, believed to be heavily discounted, under wraps before it conducts the online auction on September 15.
Similar apartments in the complex have sold for up to $650,000.
To qualify for the auction, buyers need to submit an opening bid, settlement terms and a deposit, to be reviewed by the Yarra One team.
If deemed acceptable, they will be able to take part in the auction if the reserve price is met.
The developer believes the sale process is unique for a newly completed apartment, with others typically selling off-the-plan prior to construction finishing.
Yarra One general manager Jeffrey Ong said interested buyers could snap up a bargain depending on the interest and quality of the bids submitted.
“The more competition, the more the price will climb so the apartment could sell for a discounted price or it may sell for around what it would have if the buyer didn’t buy via auction.
“Ultimately, the price will be controlled by the market, meaning buyers will never have to worry about paying too much.”
Virtual inspections of the apartment begin on Saturday, August 21, and interested buyers can register via Realestate.com.au.
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