Rare St Vincent Place mortgagee sale in Albert Park attracts four bidders
A three-bedroom terrace in Albert Park was the most expensive sale for the second week of April, selling at auction for $4.3 million, according to RP Data.
Located on St Vincent Place, the property (pictured below) comprises a 492-square-metre block and with no bathroom, is a renovator's opportunity.
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The property was originally part of a three-terrace property owned by the Loreto Sisters, who bought it in 1969.
Prior to the Loreto Sisters purchase, the property had been a Christian Brothers boy's hostel, which closed in June 1967.
The property changed hands four years ago when acquired by Fiona Olney-Fraser, wife of corporate raider Darren Olney-Fraser, for $10.1 million, who then split the property up into three empty shells.
Westpac took control of the properties in 2010.
Listing agent Michael Szulc of Cayzer Real Estate Albert Park told Property Observer there were four bidders at the auction and an audience of around 200.
Szulc says the sale provided an opportunity for those wanting to turn the property into their dream home.
The other two terraces, 73 and 77 St Vincent Place, will go under later this month.
New South Wales continues to dominate the top 10 most expensive sales list with seven properties listed.
Victoria secured one more position this week in the top 10 sales list, having only one property on the list last week. The other property was at Alphington.
The 10 most expensive sales across Australia last week were
75 St Vincent Place, Albert Park, VIC, 3206, three-bedroom house, sold at auction on April 13 by Cayzer Real Estate Albert Park for $4.3 million
2 Rowe Street, Alphington, VIC, 3078, five-bedroom house, sold at auction on April 13 by Miles Real Estate Ivanhoe & Rosanna for $3 million
20 Wallace Street, Greenwich, NSW, 2065, four-bedroom house, sold at auction on April 13 by Century 21 Blunts for $2.692 million
7 Mort Street, Randwick, NSW, 2031, four-bedroom house, sold prior to auction on April 9 by Di Jones Real Estate for $2.52 million
1 Edegecliffe Avenue, South Coogee, NSW, 2034, four-bedroom house, sold after auction on April 9 by BHR Estate Agents for $2.4 million
24 Russell Avenue, Lindfield, NSW, 2070, five-bedroom house, sold at auction on April 10 by Richardson & Wrench Chatswood for $2.311 million
70A Read Street, Bronte, NSW, 2024, four-bedroom house, sold prior to auction on April 13 by GoodyerDonnelley Real Estate Woollahra for $2.21 million
165 The Boulevard, Floreat, WA, 6014, four-bedroom house, sold at auction on April 13 by Airey Real Estate for $2.2 million
37 Oatley Road, Paddington, NSW, 2021, four-bedroom house, sold at auction on April 13 by BresicWhitney Estate Agents Darlinghurst for $2.13 million
3 Alexandra Street, Hunters Hill, NSW, 2110, five-bedroom house, sold on April 10 by Ward Partners Hunters Hill for $2.05 million
