Buyers know best: The Block's Greville Pabst

GUEST OBSERVATION

Last night’s Buyers’ Jury on The Block Triple Threat had contestants and viewers on the edge of their seats as potential buyers came in to inspect their handiwork.

The area attracts a high-end clientele so The Block bought in a diverse mix of people, at different stages of their lives and all with different intentions for the property.

Frank Valentic presented two serious property investors looking to rent out the apartments. Nicole Jacobs presented the properties to a retiring couple looking into the area for its attractive atmosphere, prime for people in later stages of their lives.

My buyers were two very different couples. Mature couple Jenny and Murray were looking to add to their property portfolio. Contrastingly, Sophia and Damien were a young professional couple looking to upgrade to the premium lifestyle the South Yarra area has to offer.

The lesson here was to demonstrate there is no point in designing a space with a specific buyer in mind as this only serves to limit your potential market. Blockheads learnt through first hand experience, the buyers market is a vastly varied one, and this should always be kept in the back of their minds when designing and renovating.

When taking a look at the contestants’ ensuites, not only did the buyers appreciate aesthetics, they also highly valued functionality. To their credit, all Block contestants had very strong ensuite designs to their advantage with the buyers.

In keeping with the South Yarra property market, the spaces all had a luxury feel - important to all the potential buyers. All contestants hit the mark with this, cleverly manipulating the functionality of each space.

Ayden and Jess stood out to the buyers as they provided a door around the toilet, considering the need for privacy in a shared space. Charlotte and Josh could have further improved their room (pictured above) by providing more storage. Both Tim and Anastasia and Daz and Dea could have carried more favour by considering the needs of their potential tenants in closer detail, such as providing towel racks that were closer to the shower.

What the buyers thought:

• Charlotte and Josh – 24.5
• Tim and Anastasia – 26.5
• Ayden and Jess – 25
• Dea and Daz – 26.5

GREVILLE PABST is CEO and director of WBP Property Group and a judge on The Block Triple Threat.

Feature photo courtesy of Elizabeth Allnutt Photograph/Channel 9.