3 months ago
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A fan of an architecturally designed renovation in Northcote paid $2,702,000 for the right to call the house “home” on Saturday, after fending off three other cashed-up buyers at auction.
The renovation of the three-bedroom house at 3 Dally Street attracted architecture awards, coverage in architecture-focused publications and the adoration of one committed buyer.
“The chap who bought it was a young chap on his own, who saw the property highlighted in The Local Project when it was first completed,” Nelson Alexander selling agent and auctioneer Robert Enes said. “He knew if it came up for sale, he just wanted to buy it.”
Enes listed the property for sale with a quoted price range of $2.1 million to $2.3 million. He said the opening bid was the bottom of the range, and the reserve was set at the top. The sale price was $402,000 more than the reserve.
Enes said two of the other four bidders were empty-nesters, and the home’s high-quality renovation had caused the would-be buyers to become deeply invested.
“It was helter-skelter, sure-fire bidding right from the beginning, in $25,000 increments up to $2.6 million,” he said.
The home’s design was its key draw. Credit: Nelson Alexander
It was one of 1241 auctions scheduled for Melbourne on Saturday.
In Fitzroy, a two-bedroom terrace house sold to first home buyers for $1,385,000.
The home at 333 Napier Street was near popular nightlife precincts and was given a quoted price range of $1 million to $1.1 million by Jellis Craig selling agent and auctioneer Charles Atkins.
“It’s a beautifully presented single-fronted terrace with the all-important central bathroom, and it has a terrific lifestyle location on Napier,” he said.
The auction began with a bid of $1.04 million. Atkins said the reserve was set at $1.12 million. There is no legal requirement for a vendor’s reserve to be in line with their property’s price guide.
Two bidders contested the auction; they were both first home buyers, Atkins said.
“It’s entry level into Fitzroy, and the best performing segment of the market at the moment is the single-fronted Victorians from that $1 million [to] $1.5 million,” he said.
The home had been an investment property, which proved attractive to buyers looking to have the option to renovate, Atkins said.
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