Brooklyn, Fitzroy four star hotel to close after weekend auction

Brooklyn, Fitzroy four star hotel to close after weekend auction
Brooklyn, Fitzroy four star hotel to close after weekend auction

The $4.62 million sale of Brooklyn, the 1880s heritage-listed Fitzroy property currently operating as a four star hotel, topped the weekend auction sales.

It was on the market for the first time in a decade, listed by the filmmaker and designer Maggie Fooke.

Fooke paid $1.5 million for the landmark property (above and below) in 2006.

The George Street building was constructed in 1865 and later extended in Ecclesiastical Gothic style with a double loggia façade by the shoe importer Joseph Levy.

The property with 12 rooms had also previously been ran as a boarding house.

Brooklyn, Fitzroy four star hotel to close after weekend auction

Nelson Alexander agents Arch Staver and David Sanguinedo gave a $4.2 million to $4.5 million pre-auction price guide, suggesting it was suitable for conversion into a luxury family home.

After it sold $125,000 above reserve Staver old domain the piece of “old Fitzroy” would now be converted into a private home. It fell short of Fitzroy's $4.9 million record price on Gore Street in 2017

The number of homes taken to auction across the capital cities increased to 1,633 this week returning a preliminary clearance rate of 75.7 per cent, according to CoreLogic.

Brooklyn, Fitzroy four star hotel to close after weekend auction

The previous week saw 1,533 homes taken to auction returning a final clearance rate of 72.3 per cent.

 

"Although the final clearance rate across the combined capitals will revise lower as remaining results are collected, it will likely hold above 70 per cent for the fifth consecutive week," CoreLogic auction analyst Kevin Brogan said.

Over the same week last year, auction activity was higher with 1,983 homes taken to auction, returning a significantly lower clearance rate of 51.8 per cent.

Melbourne was host to 824 auctions, returning a preliminary clearance rate of 75.7 per cent marking the eighth consecutive week where the clearance rate has held above 70 per cent.

There were several trophy homes sold pre-auction with undisclosed outcomes including an 1888 Hawthorn home marketed with $6 million to $6.5 million price guidance.

The five-bedroom home, at 518 Glenferrie Road (below), was built on a 1297sq.m block.

Brooklyn, Fitzroy four star hotel to close after weekend auction

It features four bathrooms, an internal lift, a cellar, and a five-car basement garage.

The house underwent significant renovation in 2010, at which time a pool and spa were also added. 

Nikki Van Gulick, Hamish Tastevin, and James Tastevin, from Marshall White Boroondara, listed the home that had last sold in 2004 for $2.1605 million.

The prior weekend in Melbourne saw 765 Melbourne homes taken to auction with a 74 percent final clearance rate.

Over the same week last year, a clearance rate of 54.1 per cent was recorded across 988 auctions.

Melbourne had the nation's cheapest sale when $255,000 was paid in St Kilda.

It was the one bedroom 208/127-129 Fitzroy Street (below), set within the George Hotel. It sold at $159,500 in 1995.

Brooklyn, Fitzroy four star hotel to close after weekend auction

Woodwards agent Juanita Kelly had given a $250,000 to $275,000 price guide.

Sydney recorded a preliminary clearance rate of 80.3 per cent across 580 auctions this week.

Over the previous week, final results show 75.7 per cent of the 528 auctions were successful.

One year ago, 669 auctions were held across Sydney returning a final clearance rate of 48.6 per cent.

Sydney's top sale was at Northwood when $3.71 million was paid for 46 Northwood Road, a two storey five bedroom brick house (below).

Brooklyn, Fitzroy four star hotel to close after weekend auction

It was marketed by McGrath agent Brent Courtney has having water and city views.

Across the smaller auction markets, Adelaide, Canberra and Perth saw lower auction volumes week-on-week while Brisbane and Tasmania saw an increase in the number of homes taken to auction over the week.

Adelaide prices ranged between $420,000 at St Agnes to $1.047 million at Myrtle Bank.

Both were three bedroom homes.

The 16 Radar St, St Agnes offering sold through HAR Sheppard Property had $400,000 price guidance.

The three bedroom 1925 bungalow at 3 Lindsay Avenue, Myrtle Bank was sold by Peter Emes at R&H Glenelg having sold in 2010 at $800,000.

A pool was installed several years ago costing $35,000.

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Clearance Rate Weekend Auctions

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