Unsold Albert Park despite Six Degrees Architects extension

Unsold Albert Park despite Six Degrees Architects extension
Unsold Albert Park despite Six Degrees Architects extension

Buyers agent Nicole Jacobs attended the recent offering of 374 and 376 Montague Street, Albert Park along with a crowd of about 120 people.

But there was no under the hammer joy for auctioneer John Holdsworth of Greg Hocking Holdsworth for the renovated trophy home.

A vendor bid of $2 million didn’t bring any bidding hands for 376 Montague Street, Albert Park, which had been award-winningly extended by Six Degrees Architects.

On the ground floor of the Victorian-era house is a central living/dining area, three bedrooms, bathroom, laundry, and a separate living area. Upstairs is a luxurious main bedroom with walk-in robe and ensuite, and a light-filled study/office with balcony.

"It was then that I thought…have we all become so immune to the rising prices that $2 million for 215 square metres is cheap?," Nicole Jacobs opined.

"Not reasonable, but cheap?

"No parking pulled it back and as one onlooker pointed out, five bedrooms and only two bathrooms spells a nightmare in the morning!," Nicole Jacobs blogged.

Then the adjoining home at 374 owned by the vendor’s mother was also up for auction.

It passed in at $1.14 million, selling later for $1.16 million.

"At $8,529/sqm in Albert Park, 100 metres from the shops this is good buying but it was only 136 square metre of land.

"The house unfortunately requires more than just a tender loving make-over," she added.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

Tags: 
Victoria Unsold

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