Strong interest in Armadale mansion apartment in Property Tycoon tipping's fourth round
Another big auction is on the cards in Melbourne this coming weekend, with a mansion apartment in Armadale about to hit the market.
You will be hard pressed to find an apartment to compete with 2/21 Hampden Road, Armadale (pictured below).
It is clearly in a class of its own and lies in Armadale's premier boulevard. The three bedroom, two bathroom accommodation comes complete with an open fireplace and a contemporary kitchen.
As you would expect, a property like this has had many groups showing strong interest in the $950,000 to $1,050,000 quoted price range. Agent Elliott Gill from Bennison Mackinnon anticipates strong competition on Saturday.
Last weekend, the auction for 24/125 Oxford Street, Collingwood was one out of the box as the bidding flew past the $1.3 million reserve and did not stop until it past $1.5 million.
When all bidders had exhausted themselves the property (pictured below) sold more than $300,000 above the average tip at $1.512 million. Only a handful of Tycoons tipped this result.
The Sydney market fizzled last weekend with four out of five Property Tycoon properties being passed in. The owners of 84A Foucart Street, Rozelle had an offer prior to auction of $1.22 million and decided to take the money and run.
It will be a different story this weekend and there will be beers around after the auction of 25 Paul Street, Bondi Junction as the descendants of beer brewer James Boags house goes under the hammer. The Grand Old Victorian Lady is in the perfect location opposite the leafy green Waverley Park with schools, shops and transport so conveniently close.
Agent Kevin Mendes from Laing+Simmons said there has been very strong interest in the property with 109 groups attending the open houses. While most buyers hold their cards close to their chest he is quietly confident the property will sell for around $1.25M
There's now a website, www.propertytycoon.com.au, where punters can guess five auction results in Melbourne and Sydney, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener. This season Property Observer readers have their own competition, which you can access here. The winner of the overall competition will win $1,000.