oc | Monday 20th January

Bayside/Port Phillip, Port Phillip



Port Phillip Weekly

Lucky 13

With thirteen properties over the one million dollar mark scheduled for auction in this weekend, there are signs that stock levels seem to be surviving without the need for resuscitation just yet. Mind you, quality will be in the eye of the beholder with some of these offerings.

The stand out was 15 Ruskin Street, , a free-standing Edwardian with good content of 471 sqm (Sam Gamon of Chisholm and Gamon). It recently sold before auction for an undisclosed price. This has been a bit of a trend in recent months, where buyers not wanting to miss out on good offerings have been keen to bring things to a head in terms of price during the campaign phase.

In this weekend, the converted early colonial hotel in tucked away at the end of a lane at 6 Nixon Place, was bought under the hammer for $1,171,000 after an opening bid of $950,000.

Last weekend we saw the sale of 97 Kerferd Road (John Holdsworth, Greg Hocking Holdsworth) in front of a strong crowd of 100. The auction opened with a vendor bid of $1.95m and reached $1.99m with two bidders before the was passed in. It sold shortly after the auction for $2.01m. The was in good order and you could move in with nothing to spend. However, most buyers would be considering a second storey extension (STCA) to improve accommodation and flexibility.

Due Diligence

I have spoken in the past about the need for buyers to cover off all matters of due diligence on a property before they buy – particularly if they want to renovate. Port Phillip and Heritage Victoria wield a heavy axe when it comes to what you can and cannot do to a property. Another side of the due diligence process is that you may want to check what your neighbours are planning with their properties and how this may impact on the quiet enjoyment of your home and its potential for future .

Don’t forget about work done by council or by developers that might affect your property. What prompted this thought was a recent discussion with a friend who has seen the capital of his long-held property drop significantly because of changes to traffic conditions made by the local council. This led me to check the City of Port Phillip website to see if any major infrastructure projects were in the pipeline, either by council itself or by private developers, that may have a significant impact on the area. One project being considered by council is 1-7 Waterfront Place, a privately owned site opposite Station Pier in Port Melbourne. The owner is seeking to redevelop the site for a 19-storey apartment complex. The size and scale of the proposed is causing some community concern, especially because the current planning controls for the site do not include a limit on height. If you have a property in Beacon Cove or further east there may be significant increases in traffic and over-shadowing that may negatively affect the property you bought.

Last week I saw an advertising flyer for a property where the orientation to the sun had been reversed on the plan. I’m sure it was not intentional, but it is a reminder that it is always worth double-checking that the floorplan is correctly drawn – especially when it comes to something as significant as orientation to the sun.

Vino of the Week

Fish, sunshine and white wine make great companions, so last weekend when we had a hint of early Spring weather I put the three together: pan fried whiting, washed down with Dopff Au Moulin Pinot Gris Reserve 2011 at a sunny table. The fish could’ve done with a light sauce, the reason being that the wine has a bit of a musk stick sort of sweetness, though it gives way to a lingering drier finish. It’s a character a bit different to Aussie Pinot Gris I have tried and at around $16 it is very affordable alternative.

 

BRIGHTON EAST, 1 Heathfield Rd
BRIGHTON EAST, 1 Heathfield Rd | Campbell Cooney (Hodges)
Under Hammer: $1,465,000 - 4 Bidders (Photo: Karen Bumpstead)
Bidderbuzz Auction
"A keen crowd of around 60 took vantage points either side and in the middle of the street to hear auctioneer Campbell Cooney in his succinct preamble. “And the sun shines…” he exclaimed as we were informed of the “modest reserve”. Unlike the usual uncomfortable silence after the requesting for someone to “break the ice” with a bid, Bidder 1 immediately jumped in with an offer of $1,000,000 which was politely countered with a $1,200,000 vendor bid from Mr Cooney. Three bids later there were three new bidders putting up their hands and the price was climbing in increments of $25,000 then $10,000 and $5,000 until at $1,390,000 Bidder 2 asked and received confirmation that the property was on the market. At $1,400,000 Bidder 1 joined back in and a bidding war erupted in increments of $5,000, $2,500 and $1,000 until finally at $1,465,000 the gentleman who opened the auction became the last man standing, buying the property under the hammer." (Karen Bumpstead)

 

Biggest Sale: BRIGHTON, 9 Loller St
Rob Strickland (Marshall White); Under Hammer, $2,030,000 - 2 Bidders

"You may remember the commercial on television which featured an auction held on a blustery winter's day while the vendors remained toasty inside, the crowd outside bidding ferociously so they too could enjoy the warmth inside, thanks to the home's effective heating system. Well this renovated period home was so warm and cosy during inspection time that many of the 50 spectators lingered as long as they could indoors before heading outside to the chilly weather for the commencement of the auction. After giving a thorough preamble, auctioneer Rob Strickland didn't have to wait long before a strong opening bid of $1,500,000 was offered from the crowd. A second bidder was quick to join in and a flurry of bids ensued until the price reached $1,760,000 and Bidder 1 asked if the property was on the market. Kate Strickland ducked inside and quickly returned to say that yes it was indeed on the market. Bids came thick and fast from then on with a determined Bidder 2 the victor when the hammer came down at $2,030,000. Mr Strickland congratulated the successful bidder and whisked him inside to the warmth of his new home." (Jen Milligan)

 

Biggest Pass In: PORT MELBOURNE, 166 Dow St
Xavier Maher (Maher Real Estate); Passed In: $1,900,000 - 4 Bidders

"Before the assembled crowd of 50, auctioneer Xavier Maher gives a potted history of how this property came to be - originally a turpentine factory - it was bought by the Plumbridge family in 1938 during the Depression. The following year they built their family home here. He notes the many advantages of this property including the fact that it has two street frontages and comes with no heritage overlay – a boon for any prospective developers in the crowd. Calling for an opening bid, a young couple make the opening bid $1,400,000, and this is quickly followed by two other bidders going up in $100,000 lots to $1,600,000, where it stalls, and Mr Maher advises that half the block would be worth that. The bidding then resumes in $50,000 lots to $1,750,000, where Mr Maher steps inside for a consultation. Upon his return, he says we are close to the reserve, and fresh bidding emerges as a young woman, talking on a mobile, enters the contest. At $1,800,000 the bidding dramatically slows down and an offer of $10,000 is rejected. The bidding continues in $20,000 increments to $1,870,000, where Mr Maher is asked if it on the market, and he plays coy. Urging the young woman to keep bidding and find out, he is asked again at $1,900,000, but it still has not reached reserve, and now the bidding stalls entirely, and the property is thus passed in for further negotiations. " (Sara Hoffman)
$1M+ bayside/port phillip Featured Auctions
639
/1000
JAMES HOME RATINGS
BRIGHTON: 9 Loller St
9 Loller Street
BOUGHT: $2,030,000
UNDISCLOSED
JAMES HOME RATINGS
BRIGHTON EAST: 1 Heathfield Rd
1 Heathfield Road
BOUGHT: $1,465,000
661
/1000
JAMES HOME RATINGS
BRIGHTON EAST: 9 Roseberry Av
9 Roseberry Avenue
BOUGHT: $1,427,000
604
/1000
JAMES HOME RATINGS
ELWOOD: 15 Ruskin St
15 Ruskin Street
BOUGHT*: Undisclosed
No report
UNDISCLOSED
JAMES HOME RATINGS
HAMPTON: 58 Thomas St
58 Thomas Street
BOUGHT: $1,161,000
UNDISCLOSED
JAMES HOME RATINGS
PORT MELBOURNE: 166 Dow St
166 Dow Street
PASSED IN: $1,900,000
UNDISCLOSED
JAMES HOME RATINGS
PORT MELBOURNE: 362 Howe Pde
362 Howe Parade
PASSED IN: $1,000,000
629
/1000
JAMES HOME RATINGS
SANDRINGHAM: 41-45 Fernhill Rd
41-45 Fernhill Road
BOUGHT*: Undisclosed
634
/1000
JAMES HOME RATINGS
SANDRINGHAM: 15 Pellew St
15 Pellew Street
BOUGHT: $1,400,000
UNDISCLOSED
JAMES HOME RATINGS
SOUTH MELBOURNE: 6 Nixon Pl
6 Nixon Place
BOUGHT: $1,171,000
Stonnington Weekly
port phillip Scheduled Auctions
PORT MELBOURNE
5 Barak Road, PORT MELBOURNE
Passed In
5 BARAK ROAD
SOUTH MELBOURNE
6 Nixon Place, SOUTH MELBOURNE
Bought $1,171,000
6 NIXON PLACE
PORT MELBOURNE
166 Dow Street, PORT MELBOURNE
Passed In
166 DOW STREET
ELWOOD
15 Ruskin Street, ELWOOD
Bought undisclosed
15 RUSKIN STREET
bayside Scheduled Auctions
BRIGHTON EAST
9 Roseberry Avenue, BRIGHTON EAST
Bought $1,427,000
9 ROSEBERRY AVENUE
HAMPTON
58 Thomas Street, HAMPTON
Bought $1,161,000
58 THOMAS STREET
SANDRINGHAM
36 Nelson Street, SANDRINGHAM
Bought $1,360,000
36 NELSON STREET
BRIGHTON
78 Bay Street, BRIGHTON
Bought $1,645,000
78 BAY STREET
ADDRESSRESULTPRICEIMPROVED $/SQMBOUGHT
BLACK ROCK
16 Tulip StreetBought$1,166,000$1,6922013-08-17
BRIGHTON
9 Loller StreetBought$2,030,000$3,4642013-08-17
78 Bay StreetBought$1,645,000$2,2412013-08-17
6 Alton AvenueBought$1,600,000$2,4622013-08-17
BRIGHTON EAST
9 Roseberry AvenueBought$1,427,000$2,2402013-08-17
3/28 Pine StreetPassed InPI: $1,200,000$2,2402013-08-17
1 Heathfield RoadBought$1,465,000$1,5652013-08-17
HAMPTON
34 Teddington RoadBought$1,020,000$1,3322013-08-17
17 Lagnicourt StreetNot Reported
58 Thomas StreetBought$1,161,000$1,7512013-08-17
SANDRINGHAM
36 Nelson StreetBought$1,360,000$1,9652013-08-17
174 Beach RoadBought$2,207,500$3,9422013-08-17
41-45 Fernhill RoadBoughtUndisclosed2013-08-17
15 Pellew StreetBought$1,400,000$2,1772013-08-17
ELWOOD
15 Ruskin StreetBoughtUndisclosed2013-08-17
PORT MELBOURNE
362 Howe ParadePassed InPI: $1,000,000
51 Farrell StreetBoughtUndisclosed2013-08-17
5 Barak RoadPassed InPI: $1,020,000
7 Beacon RoadNot Reported
166 Dow StreetPassed InPI: $1,900,000
SOUTH MELBOURNE
125 Bank StreetBought$1,160,000$9,3552013-08-17
6 Nixon PlaceBought$1,171,000$2,4762013-08-17
ST KILDA
12 Odessa StreetBought$1,305,000$3,8382013-08-17
ST KILDA EAST
2/18a Murchison StreetBoughtUndisclosed2013-08-17
1/18A Murchison StreetBoughtUndisclosed2013-08-17
bayside Private Sales
BRIGHTON
10 Kent Avenue, BRIGHTON
Bought: $3,600,000
10 KENT AVENUE
port phillip Private Sales
PORT MELBOURNE
45 Stokes Street, PORT MELBOURNE
Bought: $1,320,000
45 STOKES STREET
bayside Private Sales
BEAUMARIS
9 Hornby Street, BEAUMARIS
Bought: $1,290,000
9 HORNBY STREET
port phillip Private Sales
ST KILDA EAST
32 Talbot Avenue, ST KILDA EAST
Bought: $1,800,000
32 TALBOT AVENUE
REPORTED BAYSIDE PRIVATE SALES
REPORTED PORT PHILLIP PRIVATE SALES
ADDRESSBOUGHT PRICEIMPROVED $/SQM
BEAUMARIS9 Hornby Street$1,290,000$1,435
BRIGHTON10 Kent Avenue$3,600,000$7,759
PORT MELBOURNE45 Stokes Street$1,320,000$91
ST KILDA EAST32 Talbot Avenue$1,800,000$2,143
BRIGHTON EAST, 9 Roseberry Av
BRIGHTON EAST, 9 Roseberry Av | Rob Strickland (Marshall White)
Under Hammer: $1,427,000 - 4 Bidders (Photo: Karen Bumpstead)

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