Unique Templestowe house above 8m void hits market for $1m
With a $1m-$1.1m asking price it's just a fraction of the $1.65m buyers typically pay for a perch in the suburb.
But its unusual design, that leaves a significant portion of the residence and its balcony hovering above a towering void, has buyers asking if 'it's safe and secure'.
RELATED: Melbourne home sold for less than $100,000
Brighton waterfront: Poker player's $30m+ mansion buy revealed
Portelli-backed racer James Moffat lists Donvale house
Built by its owner architect in the 1990s and balanced on the bricks and mortar of its lower-ground garage and a series of Karri timber stilts, the 39 Lawanna Drive home is being sold for the first time since its construction.
And Jellis Craig Doncaster's Chris Savvides said its vertigo-inducing views were the central focus for buyers, and its unusual design was the reason behind its bargain price tag — confirming the reserve would be within the quoted range on auction day next month.
So far it's had 'strong interest' with 45 groups through its first open for inspection on Saturday — mostly a mix of inner-city professionals aged from their late 20s to 40s.
While it wasn't for everyone, Mr Savvides said those who did like it were taking a very close look at the unusual residence.
'I've never seen anything like this, there's no comparisons … but people are intrigued by it,' Mr Savvides said.
'The view is amazing, but people are saying they're not sure (about how it achieves the view).
'And It's nor for young kids, or the elderly.'
The agent said he's getting a lot of questions about whether 'it's safe and secure'.
And is referring those questions to the vendors more than $120,000 effort to refit and renew the home's incredible rear balcony.
The home has also stood in place since the early 90s, with its architect builder buying it as a steeply sloping block of land for just $88,300 in 1988 — then building the eye-catching residence.
It's still standing after a number of earthquakes, one as nearby as Sunbury in 2023, as well as countless storms that have followed its construction.
Mr Savvides said braver buyers in sturdy footwear had been walking down to the bottom of the block to get a feel for the mammoth height the home stands above ground — estimated to be around 8m and close to twice the height of the main residence.
The previous owners very much embraced the height, with the living area and even the main bedroom both positioned to make the most of the views.
Mr Savvides said the next owners were also likely to be looking at ways to fill in some of the negative space beneath the house — though the existing lower-ground level would already suit for conversion to a unit, home office or as is for a car enthusiast.
The 966sq m property is slated for auction at 2pm on August 16.
MORE: Mt Waverley home stuns with $2.33m auction result
Ex-church reno'd on Grand Designs Australia could be yours
Plenty luxury home breaks suburb record
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
West Australian
3 hours ago
- West Australian
More gold jackpots lurking in WA dirt, top miner says
The man who helped unearth one of Australia's biggest recent gold finds says there's plenty more motherlodes in them thar hills. Former De Grey Mining chairman Simon Lill hit the jackpot when his exploration team discovered the Hemi deposit in the Pilbara region of Western Australia in 2020. Despite the region being better known for its rich iron ore reserves, the discovery gave De Grey one of the most valuable gold assets in development in Australia, estimated at more than 11 million ounces of ore. The timing could not have been better, with bullion prices soaring to record highs in the years since, leaving the company sitting on top of more than $55 billion worth of gold at current prices. So De Grey cashed in, with Australia's largest goldminer Northern Star snapping the company and its Hemi project up for $5 billion. The deal earned De Grey and Mr Lill the coveted Dealer of the Year award at the glitzy closing night ceremony of this year's Diggers and Dealers mining forum. "De Grey Mining exemplifies all that makes our industry great," the conference's organisers said. "Exceptional market validation driven by resource expansion and investor anticipation." Now chair of Ballard Mining, an ASX newbie spun out of Gina Rinehart-backed Delta Lithium along with its high-grade Mount Ida gold project, Mr Lill said there was plenty more gold to be found in the red WA dirt. "I used to work with a crusty old metallurgist," he said on Wednesday. "He said, if it's under-explored, there ain't nothing there, i.e. the old timers have found it all. I think the gold industry in recent years has proven that that is wrong." Ballard already claims more than one million ounces of gold in its deposit, but with more exploration underway at the site, Mr Lill is confident that figure is just scratching the surface. "The geologists from De Grey were convinced that there'll be another Hemi somewhere," he said. Right next door to Ballard's Mount Ida project is a processing plant owned by privately-held gold producer Aurenne Group. It was only logical at some stage to hold discussions with Aurenne about potentially acquiring the facility, Mr Lill said. Flush with cash from the surge in gold prices to more than $5200 an ounce, mergers and acquisitions was a hot topic among delegates at the three-day mining forum in Kalgoorlie. Another recent M&A participant, Ramelius Resources, scooped the Digger of the Year award. The mid-tier miner, which a week earlier completed its $2.4 billion takeover of gold play Spartan Resources, achieved a record 301,664 ounces of gold production last financial year, demonstrating "outstanding operational and financial performance". West African explorer Turaco Gold won the emerging company award while the GJ Stokes Memorial Award went to Peter Cook, recognised for more than 40 years in the industry. A plane-load of workers was flown into Kalgoorlie to staff the gala dinner under the giant Diggers marquee on Wednesday night, before being flown back to Perth in the early hours of Thursday morning when the festivities had wrapped up.
Perth Now
3 hours ago
- Perth Now
More gold jackpots lurking in WA dirt, top miner says
The man who helped unearth one of Australia's biggest recent gold finds says there's plenty more motherlodes in them thar hills. Former De Grey Mining chairman Simon Lill hit the jackpot when his exploration team discovered the Hemi deposit in the Pilbara region of Western Australia in 2020. Despite the region being better known for its rich iron ore reserves, the discovery gave De Grey one of the most valuable gold assets in development in Australia, estimated at more than 11 million ounces of ore. The timing could not have been better, with bullion prices soaring to record highs in the years since, leaving the company sitting on top of more than $55 billion worth of gold at current prices. So De Grey cashed in, with Australia's largest goldminer Northern Star snapping the company and its Hemi project up for $5 billion. The deal earned De Grey and Mr Lill the coveted Dealer of the Year award at the glitzy closing night ceremony of this year's Diggers and Dealers mining forum. "De Grey Mining exemplifies all that makes our industry great," the conference's organisers said. "Exceptional market validation driven by resource expansion and investor anticipation." Now chair of Ballard Mining, an ASX newbie spun out of Gina Rinehart-backed Delta Lithium along with its high-grade Mount Ida gold project, Mr Lill said there was plenty more gold to be found in the red WA dirt. "I used to work with a crusty old metallurgist," he said on Wednesday. "He said, if it's under-explored, there ain't nothing there, i.e. the old timers have found it all. I think the gold industry in recent years has proven that that is wrong." Ballard already claims more than one million ounces of gold in its deposit, but with more exploration underway at the site, Mr Lill is confident that figure is just scratching the surface. "The geologists from De Grey were convinced that there'll be another Hemi somewhere," he said. Right next door to Ballard's Mount Ida project is a processing plant owned by privately-held gold producer Aurenne Group. It was only logical at some stage to hold discussions with Aurenne about potentially acquiring the facility, Mr Lill said. Flush with cash from the surge in gold prices to more than $5200 an ounce, mergers and acquisitions was a hot topic among delegates at the three-day mining forum in Kalgoorlie. Another recent M&A participant, Ramelius Resources, scooped the Digger of the Year award. The mid-tier miner, which a week earlier completed its $2.4 billion takeover of gold play Spartan Resources, achieved a record 301,664 ounces of gold production last financial year, demonstrating "outstanding operational and financial performance". West African explorer Turaco Gold won the emerging company award while the GJ Stokes Memorial Award went to Peter Cook, recognised for more than 40 years in the industry. A plane-load of workers was flown into Kalgoorlie to staff the gala dinner under the giant Diggers marquee on Wednesday night, before being flown back to Perth in the early hours of Thursday morning when the festivities had wrapped up.
AU Financial Review
a day ago
- AU Financial Review
The PEXA monopoly's stand-in CFO
The monopoly that PEXA enjoys in the e-conveyancing space is near total. Almost everyone who buys and sells real estate in this country pays something like $140 to the ASX-listed, Commonwealth Bank-backed company that sits between banks when the sale goes through. The $340 million in annual fees it collects is, naturally, a red rag to policymakers like ACCC chair Gina Cass-Gottlieb and Assistant Minister for Competition Andrew Leigh. The latter gets so fired up about its singular dominance he starts giving history lessons about Adam Smith.
