Latest news with #NelsonAlexander
News.com.au
20-05-2025
- Business
- News.com.au
Inside Kew's $11.5m mansion with cellar, city views and skate ramp
A Kew mansion with a heritage facade and a hidden skate ramp has hit the market with a $10.5m-$11.5m price guide. The grand Victorian home at 1-3 Sackville St was designed in the late 1800s by prominent architect John Beswicke, whose work helped shape much of Melbourne's early suburban character. Beswicke was responsible for more than 300 buildings across Victoria, including the Hawthorn, Brighton and Essendon town halls, and numerous homes throughout Kew and Hawthorn during the boom era of the 1880s. This property retains key features from that period — wide hallways, ceiling roses, arched verandas, and a striking stained glass window in the stairwell. But, Nelson Alexander Kew agent Laurence Murphy said it's the basement that tends to catch buyers off guard. 'They were the ones who really took on the restoration and brought the property to its current state,' Mr Murphy said. 'Their goal was to honour the home's origins as a grand Victorian-era mansion, while giving it a unique lifestyle edge. Mr Murphy said the basement wasn't part of the original structure – it was added by the previous owners. The lower level boasts a home gym, workshop, wine cellar and six-car garage — along with a fully built-in indoor skate ramp. The home comes with fully endorsed plans by heritage architect Peter Barton to complete the restoration, including adding a tennis court and landscaped gardens. The Nelson Alexander Kew agent Laurence Murphy said from the upper level, the home also enjoys uninterrupted views of Melbourne's skyline. 'From this particular pocket of Sackville Street, that view is genuinely rare,' Mr Murphy said. 'You're looking out over rooftops and tree canopies – nothing in front of you is likely to be built up.' While the current seller hasn't undertaken any changes since purchasing the home in 2023 for $10.58m, interest has come from both local families and international buyers. 'So far, it's been mostly families – local ones, many of whom have admired the home or the location for years,' Mr Murphy said. 'We've also had interest from overseas buyers, particularly those with experience restoring and living in heritage homes.' Mr Murphy said the grandness of the oversized rooms and the beautifully preserved period features at the front of the house was what made the prestigious estate stand out. 'To get a block of this size in Sackville Ward is exceptionally rare,' he said. The home is being sold by Nelson Alexander in conjunction with Marshall White.
The Age
19-05-2025
- Business
- The Age
Young couple pay $272,500 over reserve for renovated Brunswick terrace
Three young couples competed for a Brunswick terrace at auction on Saturday, pushing the sale price to $3,272,500. The renovated three-bedroom home at 679 Park Street was listed with a price guide of $2.8 million to $3 million and had a reserve of $3 million, set at the top of the range. The Victorian terrace, 'Ellis', located on the Princes Hill border in Brunswick, has generous living areas, a flexible layout and off-street parking. The winner and underbidder were both local to the area. Proceedings opened with a bid of $2.8 million and the reserve was quickly reached. Bidding then slowed, with increments decreasing from $25,000 to $10,000, $5000, and $1000. Selling agent Peter Stephens from Nelson Alexander said the auction 'wasn't very fast' but had 'good, strong bidding.' 'The market is getting going again after Easter, Anzac Day and the election,' he said. The property was one of 849 scheduled to go to auction in Melbourne during the week. By Saturday evening, Domain Group recorded a preliminary auction clearance rate of 72.4 per cent from 615 reported results throughout the week, while 55 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate. In Northcote, a double-fronted period house sold under the hammer for $2.33 million.
The Age
19-05-2025
- Business
- The Age
Young couple pay $720,000 over the reserve for renovated Brunswick terrace
Three young couples competed for a Brunswick terrace at auction on Saturday, pushing the sale price to $3.72 million. The renovated three-bedroom home at 679 Park Street was listed with a price guide of $2.8 million to $3 million and had a reserve of $3 million, set at the top of the range. The Victorian terrace, 'Ellis', located on the Princes Hill border in Brunswick, has generous living areas, a flexible layout and off-street parking. The winner and underbidder were both local to the area. Proceedings opened with a bid of $2.8 million and the reserve was quickly reached. Bidding then slowed, with increments decreasing from $25,000 to $10,000, $5,000, and $1,000. Selling agent Peter Stephens from Nelson Alexander said the auction 'wasn't very fast' but had 'good, strong bidding.' 'The market is getting going again after Easter, ANZAC Day and the election,' he said. The property was one of 849 scheduled to go to auction in Melbourne during the week. By Saturday evening, Domain Group recorded a preliminary auction clearance rate of 72.4 per cent from 615 reported results throughout the week, while 55 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate. In Northcote, a double-fronted period house sold under the hammer for $2.33 million.
Sydney Morning Herald
19-05-2025
- Business
- Sydney Morning Herald
Young couple pay $720,000 over the reserve for renovated Brunswick terrace
Three young couples competed for a Brunswick terrace at auction on Saturday, pushing the sale price to $3.72 million. The renovated three-bedroom home at 679 Park Street was listed with a price guide of $2.8 million to $3 million and had a reserve of $3 million, set at the top of the range. The Victorian terrace, 'Ellis', located on the Princes Hill border in Brunswick, has generous living areas, a flexible layout and off-street parking. The winner and underbidder were both local to the area. Proceedings opened with a bid of $2.8 million and the reserve was quickly reached. Bidding then slowed, with increments decreasing from $25,000 to $10,000, $5,000, and $1,000. Selling agent Peter Stephens from Nelson Alexander said the auction 'wasn't very fast' but had 'good, strong bidding.' 'The market is getting going again after Easter, ANZAC Day and the election,' he said. The property was one of 849 scheduled to go to auction in Melbourne during the week. By Saturday evening, Domain Group recorded a preliminary auction clearance rate of 72.4 per cent from 615 reported results throughout the week, while 55 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate. In Northcote, a double-fronted period house sold under the hammer for $2.33 million.
News.com.au
10-05-2025
- Business
- News.com.au
Reserve Bank rate cut forecast linked to Melb auction results that shot $300,000 past reserve
Multiple Melbourne homeowners have been left with shock home sale results that will see them walk away six figures better off than expected. In one of yesterday's most unexpected sales, a four-bedroom Victorian era house delivered a $1.175m result despite only having an $880,000 reserve price. In its first sale since 1946, the 16 Station St, Coburg, home had been the residence of the same family since the 1930s — when the moved in to it as tenants, before going on to purchase it off their landlord. Nelson Alexander's Ryan Currie recorded an $840,000 opening bid, with five bidders subsequently jumping in. In the end the bidding came down to a couple with a chihuahua, and a young man with his parents in tow. It went to the couple, but that didn't stop the underbidder heartily congratulating them afterwards. But Mr Currie said even more prospective bidders had cooled on the property overnight before the auction, choosing not to bid. 'It had the train line behind it, and while it had good bones, a number of people decided not to go so hard,' he said. Mr Currie added that it seemed with the prospect of an interest-rate cut in a week's time while some buyers had lost their nerve, a result $295,000 above expectations showed others had clearly felt that now was the time. Another blow out result in Ferntree Gully also left the vendors and agents in shock, in a further sign the market is anticipating home values to rise with future rate cuts. Jellis Craig's Andrew Luke had four bidders pursue 27 Stringybark Close, three of them downsizers. 'And they were cashed up and just ready to go,' Mr Luke said. While the home had a $1.4m reserve, the top of its price guide, the buyers had other ideas — driving the sale to a whopping $1.78m. 'All of the buyers had said prior they couldn't go much past the advertised price,' he said. 'But in my preamble I said to everyone 'buy now', as if it's a half a per cent cut in May, we know that when interest rates go down, prices go up.' The agent added that home sellers with a single-level floorplan were particularly well placed for strong sales.
