Latest news with #RTEdgar
7NEWS
21-07-2025
- Business
- 7NEWS
The Auction was like a game of ping pong...paddles were flying as the bids rolled in
In Maroubra, one bidder donning a number seven paddle kept her bids to $7k, prompting the agent to declare, "I should have given you my highest paddle number!" Across the nation, Australia's auction market is warming up again, with volumes on the rise and clearance rates continuing their solid streak above the 70 percent mark. Picture perfect clash ends with $2.2m Malvern sale and a portrait from the heart A cold but sun-drenched winter morning set the scene for a tightly fought auction at 1181-1183 Malvern Road, where a quirky, gallery-fronted Victorian drew a discerning crowd of 15 to 20. The freestanding, solid-brick home sold under the hammer for $2.2 million, after spirited $20,000 bidding bursts between two determined women. "It's such a unique offering," said RT Edgar listing agent Chelsie Cargill. "No heritage overlay, so developers were circling, but in the end it went to someone with a real creative vision." That someone was a Melbourne-based chef, who plans to convert the distinctive gallery shopfront into a florist shop. Previously home to local artist Pauline Courtney, the sunlit frontage has long served as one of the area's most recognisable creative spaces. In a poignant gesture after the gavel fell, Courtney presented the new owner with a portrait she had painted of a Hong Kong chef. Set on 432 square metres with laneway access and a north-facing backyard, the property blends business potential with easy family living. Beyond high fences, the single-level residence flows from three bedrooms and a study to open-plan living, a luxe kitchen and a spa-framed courtyard. A red-brick stable at the rear, replete with mezzanine and split system heating, adds further creative flexibility. Cargill said around 30 groups came through during the campaign, most drawn by the location, light and scope. "It's not just a house, it's a personality. Buyers really responded to that." "I should have given you my highest paddle number!" Maroubra agent jokes as paddle number sparks playful bidding war In a sun-drenched auction that started slow but ended with a smile, a two-bedroom apartment at 8/283 Maroubra Road sold under the hammer for $1.175 million, with one bidder's paddle number adding a cheeky twist to the final moments. Tucked to the rear of the boutique 'Lisieux' complex, the light-filled Sydney apartment attracted around 30 onlookers to the onsite event. NG Farah listing agent Mark Feerick said bidding opened at $980,000 and took time to build momentum. "It was very slow to get to $1 million," he said, noting that three parties competed before one dropped out early due to incomplete arrangements. A pause at $1 million gave bidders a breather before a "ping-pong" of offers between the final two pushed the price upward. One bidder, whose paddle number was seven, continued to place $7,000 bids throughout the auction. As the gavel was about to fall, she added a final $7,000 bid to stretch the result. "I joked with her that I should've given her my highest paddle number," Feerick laughed. The winning bidder was a local investor, while the seller, "absolutely wrapt," had initially been nervous about the potential outcome. "They were laughing together after the auction and even had a photo taken," said Feerick. "It was just one of those auctions where everything felt good." With Maroubra Beach, Pacific Square and local schools nearby, the updated apartment promises a laid-back lifestyle, with sunlight, space and a touch of charm. Bundled in the cold, bidders heat up Garden Street auction A frosty Warrnambool morning didn't stop the action at 46 Garden Street, where fifty determined onlookers crowded close for warmth and a front-row seat to a fiery three-way bidding war. The updated two-bedroom home exceeded expectations, selling at the top of the range for the street, finishing above $600,000. The result capped off what agent Tessa Stephens described as a "brilliant auction", driven by fierce competition and the undeniable appeal of the renovation. "It was absolutely freezing," Stephens said. "But no one moved. They huddled together and stuck it out, and it was worth it." The property, freshly overhauled by its vendors, drew praise for its liveability and layout. Its elevated position and peaceful setting were complemented by light-filled interiors, neutral finishes and a clever floor plan that promotes cross-ventilation and flow. With three active bidders in play, the crowd was treated to a tight contest, which ultimately saw the home fall to a delighted buyer who recognised the care behind the transformation. Stephens said the vendors were equally thrilled. "They were happy and relieved," she said. "It's always nice when someone else sees the value in the work you've done." "Everyone was happy," Stephens said. "That's the best kind of sale." A total of 1,574 homes went under the hammer across the combined capitals this past week, nudging 9.9 percent higher than the week prior, though still sitting 11.4 percent below the same week in 2023. According to Cotality research director Tim Lawless, preliminary clearance rates climbed to 74.4 percent, up from 72.2 percent the previous week. While last week's figure was eventually revised to 68 percent, it still marked the highest finalised result since March. This week's preliminary figure is the second highest so far in 2025, just behind the late-June peak of 74.5 percent. Melbourne led the volume surge, hosting 678 auctions, a rise from 628 the week before. The clearance rate there jumped to 76.7 percent, the city's strongest preliminary result since May last year.
News.com.au
25-06-2025
- Lifestyle
- News.com.au
Waterfront Queenscliff hideaway selling with private lagoon
A waterfront property with a private lagoon adjoining Swan Bay could be the perfect catch for fishing and kayaking enthusiasts. Launching a hobby craft has never been easier than at 4 McDonald Rd, Queenscliff, a 3.46ha lifestyle listing with unparalleled access to the Ramsar wetland. Uninterrupted views over the bay, native woodland and open grassy space are on offer from a three-bedroom weatherboard cottage currently used as a holiday rental. There's even a bridge to a private island where you can entertain under a gazebo overlooking the lagoon. RT Edgar, Bellarine listing agent Felix Hakins said the property was a nature lover's paradise in an exclusive and secluded setting. He has set a $3.5m to $3.85m price guide for an expressions of interest campaign closing on July 25. 'It is really the only one that has got access bay access there, really it's canoe access and small craft – you can't have motorised craft on Swan Bay,' Mr Hakins said. 'But you can definitely get your canoe through there and it's a really nice set up with all the bird life throughout. 'You get a lot of people that are fishing in there in as well so it's a great fishing spot.' He said the property would work equally well as a permanent residence or holiday getaway, with scope to expand the living space or even build another dwelling, subject to council approval. An updated bathroom is among improvements at the house, which retains hardwood timber floors and expansive glazing framing 360-degree views. The open-plan living area includes a galley kitchen and dining area and flows out to wraparound covered deck with a northern and easterly aspect. A fire pit and stone pizza oven provide other options for outdoor entertaining, while the kids can let their imaginations run wild in the elevated cubby house hidden among the trees. There's lots of storage for canoes and paddleboards in the shed, which includes garaging for two cars.
News.com.au
05-06-2025
- Business
- News.com.au
Toorak land now asking $40m with no permit
It's the most expensive patch of dirt in Melbourne, and there's not a house, plan or permit in sight. A vacant block on Toorak's most exclusive street is being quietly offered to a select pool of buyers, with expectations it could fetch more than $40m, despite having nothing built on it. The cleared site at 16 St Georges Rd was once home to the grand Edwardian villa Idylwilde, controversially demolished in 2015 after a failed bid by Stonnington Council to save it. Now, a decade on, the block is back in play via an off-market campaign that could set a new benchmark for undeveloped land in Victoria's priciest postcode. Overseas buyers eye St Kilda pad near Luna Park It's not the first time the land has been offered. The site was publicly listed in June 2020, also through RT Edgar, with a multimillion-dollar price tag, but after 243 days on the market and no sale, it was quietly withdrawn. RT Edgar auctioneer Jack Edgar, who is handling the off-market listing, said buyer appetite for prestige sites had reached new heights. 'The demand for A-grade land in Toorak is as strong as I've ever seen it,' Mr Edgar said. 'Buyers are increasingly confident in building luxury homes, and they're looking for elite positions like this.' While the $40m+ figure won't top Toorak's all-time record, believed to be the $80m off-market deal for 17 St Georges Rd in 2022, it would rank among the suburb's most valuable bare blocks, with no planning permits or house to speak of. Prominent Melbourne buyers' advocate Cate Bakos said price at this level was driven by scarcity, not square-metre rates. 'To most people, $40m sounds astronomical — and it is — but buyers operating in this space aren't shocked by the figure,' Ms Bakos said. 'They're focused on the opportunity to create something iconic.' Ms Bakos said prestige buyers often prioritised vision and legacy over resale. 'They're not worried about holding costs or land tax,' she said. 'These are long-term plays.' The site's past still lingers in local memory. It was bought in 2013 by Chinese businessman Wang Hua and then-wife Xiao 'Kylie' Yan Bao for $18.5m, before their demolition of Idylwilde sparked public backlash. Stonnington Council tried to block it, but the state ultimately ruled the home lacked enough architectural significance. The land has sat empty ever since. Now, with no house and no permit, the $40m block could finally get its next chapter, and become one of Toorak's most valuable blank canvases yet.
News.com.au
03-06-2025
- Business
- News.com.au
Toorak mid-century home listed with plans to transform into $8m luxury residence
A 1960s Toorak home with council-approved plans is drawing buyers keen to turn it into one of the suburb's next multimillion-dollar masterpieces — all without the price tag of a finished home. Tucked away in a quiet cul-de-sac, 4 Theodore Crt is a striking mid-century residence set on a 387sq m block, with a price guide of $3.2m-$3.52m. The existing home still wears the hallmarks of its era — stonework, sculptural lines, original cabinetry and bold geometry. The property also comes with a full set of endorsed architectural plans to bring it back to life in spectacular modern form. RT Edgar director Jeremy Fox said interest was strong among design-minded buyers looking to create something unique in a tightly held Toorak pocket. 'It's a uniquely designed 1960s house, those kinds of homes are really coming back into fashion,' Mr Fox said. 'The lady who started the renovation had a clear vision, but now it's ready for someone else to step in and put it all back together. 'It's a unique opportunity for someone to bring those original 1960s features back to life and reimagine them in a modern context.' The council-approved plans include four bedrooms with ensuites, a vast open-plan kitchen and living zone, rooftop terrace with sweeping Yarra views, an in-ground pool, and off-street parking for two cars, all brought together by natural stone and luxury finishes. Mr Fox said the property appealed to a specific type of buyer — savvy, creative and keen to capitalise on the value difference between what exists and what's possible. 'We're seeing strong interest from all the usual suspects, renovators, husband-and-wife teams who can't find a finished house in Toorak for $6m or $7m,' he said. 'They see the potential here to finish it off for $1.5m and have something worth closer to $8m when it's done.' The RT Edgar director said the home was priced below market value compared to many finished homes in the area and noted that the lack of a heritage overlay gave buyers welcome flexibility. 'All the architectural plans are ready to go, which is a huge bonus,' Mr Fox said. 'And because there's no heritage overlay, buyers have the freedom to restore or rebuild. That kind of flexibility is rare in Toorak.' Just a short walk from top private schools, Como Park and Toorak Village, the property is surrounded by some of Melbourne's most prestigious homes and sits on elevated, north-facing land.
News.com.au
10-05-2025
- Business
- News.com.au
Ticketmaster boss Gavin Taylor selling ‘house-size' apartment featuring a built-in bar
Ticketmaster boss Gavin Taylor is selling his 'house-size' Melbourne apartment with a $1.2m-$1.32m price tag. Mr Taylor was appointed as the ticketing platform's chief executive since 2021, the same year that he purchased the three-bedroom home located in a complex opposite Albert Park Lake. He previously served as the West Australian Football Commission's chief executive and has held a number of other sports and health-related positions. Five bidders fight for dilapidated Albert Park Victorian-era abode at auction RT Edgar's Chelsie Cargill said that Mr Taylor had lived at the 170sq m abode with his family and their pet dog Alby, who features in some of the listing photos. 'This is a hard-to-find, house-size apartment that truly stands out for its amazing size and space – a rare gem in today's market,' Ms Cargill said. Since buying the residence, the Taylors have extensively renovated it. 'The wow factor is in the open-plan living and kitchen area,' Ms Cargill said. 'They gutted the apartment and put in a new kitchen, bathrooms and laundry.' Showcasing high ceilings and large windows, the northwest-facing living and dining area has a fireplace and built-in bar. In the kitchen there's a 90cm induction cooktop and oven, dishwasher, large engineered stone benchtops and filtered water tap. Views of Albert Park Lake and Melbourne CBD's skyline can be enjoyed from the kitchen's central bench. A tiled outdoor entertaining terrace looks over nearby treetops while guests can also take advantage of a powder room separate to the main bathroom. The main bedroom features a walk-in wardrobe and ensuite, while other highlights include a study, double-glazed bedroom windows, ducted heating and cooling, intercom entry, basement parking and access to the complex's communal pool. Ms Cargill said she expected interested buyers to include families wanting the convenience of a location close to the city, restaurants, Albert Park Golf Course and Chapel St. 'It may be someone interstate who wants a place in Melbourne for when they travel, obviously you would have first-class seats to watch the Grand Prix from the home,' she said. The residence will be auctioned at 10am on May 31.
