8 hours ago
Collingwood: ‘The Lamington' pad's red hot auction result
An ultra-cool Collingwood apartment known as the Lamington has smashed expectations after selling for more than $1m on Saturday.
The two-bedroom home at 3F/68 Oxford St with red tiles, metals and glass throughout was advertised with a $900,000-$950,000 asking range.
Short-listed for an Australian Institute of Architects' interiors award, the warehouse conversion is located within a factory complex that formerly belonged to one of Australia's first department store chains, Foy & Gibson.
The apartment's owner commissioned architectural practice Rexroth Mannasmann Collective to transform its shell into an eclectic abode with a wall of tall windows, 3.6m-high steel-trussed ceilings and polished hardwood floorboards.
A horizontal red line features on many of the walls including in the open-plan living and dining area is much like a strip of jam inside a lamington – contributing to the apartment's unofficial name.
There's also a central pod within the home containing a laundry and bathroom.
One of the pod's walls has a flip-top desk and foldaway bed.
The residence has been featured in both Vogue Living and the Architectural Review magazines.
Jellis Craig inner north partner Simon Shrimpton said a $900,000 bid started the auction as three bidders competed for the 'very cool' apartment.
It was placed on the market at $950,000 and ended up fetching $1.025m.
'The apartment sold a young couple from Fitzroy and the underbidders were a couple downsizing from the eastern suburbs,' Mr Shrimpton said.
'The couple who bought were very excited, they were the first to inquire and the first ones through the door at the first open for inspection,' Mr Shrimpton said.
'They were absolutely in love with the place and all the design aspects and nuances it has.'
Mr Shrimpton said that for inner Melbourne apartments, well-designed homes with stylish flair tended to attract a lot of interest.
'Bespoke, architecturally-designed apartments are few and far between and when they are offered to the market, buyers will always line up to compete for them,' he added.
Also on Saturday, a double-fronted, Victorian-era house at 1 Peel St, Newport, sold for $1.21m.
The three-bedroom house, in need of some work including replastering, had a $1.05m reserve.
The Agency property partners Leigh Melbourne and Noah Lautman-Wurt had the listing.
Mr Melbourne said that a young couple from the western suburbs purchased the property, out of three bidders.
'The bidding was fast and furious,' Mr Melbourne said.
He noted that homes at Peel St's bottom end, near The Strand in Williamstown, did not often come up for sale.
'In my 25 years covering the area, it's the second property I have sold down here,' he said.
Mr Lautman-Wurt said the auction started with a $1m bid, with a buyer's advocate and family among the underbidders.
