Malvern East mansion sells after being discounted by $2 million

‘Undervalued’ Seddon dump gets almost $1 millionHow much will the houses sell for in Elsternwick?Melbourne market resumes at full pace as prices rise
苏州桑拿会所

A majestic Malvern East mansion, once-owned by Little River Band guitarist Beeb Birtles, sold for more than $6 million at auction – a whopping discount of about $2 million from its initial price.

The vendors of the circa 1905 five-bedroom, four-bathroom house at 10 Manning Road originally asked for more than $8 million through an expressions of interest campaign last November.

The mansion was one of about 1200 properties listed for auction on Saturday. By Saturday evening, Domain Group had collected 971 auction results and put the clearance rate at 78.3 per cent.

“Melbourne returns from a holiday break with a robust clearance rate from higher listings, although down a little on recent results,” Domain Group chief economist Andrew Wilson said.

On Saturday, just one local family – represented by buyer’s advocate David Morrell – made a bid for the keys to the 1410-square-metre property.

Bidding opened at $5.95 million and Jellis Craigauctioneer Ian Carmichael was forced to put in a vendor bid of $5,975,000 because prospective buyers kept their cards close to their chest.

After knocking back several attempts by the sole buyer to offer $10,000 more, Mr Carmichael finally accepted $5,985,000 and passed the home in.

The property, sold in conjunction with Kay and Burton, fetched an undisclosed sale price of more than $6 million price, Mr Carmichael said.

During the preamble, Mr Carmichael described the house as rich with history: from a grand house, to a rooming house, back to a home where songwriter and guitarist Birtles practised his chords in the 1980s.

The vendors bought the property, also known as Harleston Firs, in 1991. It features a large walk-in cellar, gas-heated swimming pool and pool house with kitchenette.

In nearby St Kilda, another Aussie musician – The Seekers’ singer Judith Durham – also sold her two-bedroom semi-detached Edwardian at 26 Nelson Street, used as the group’s business headquarters. The ’60s n pop band is best known for their hit Georgy Girl.

A woman, who planned to use the property for her tattoo business and residence, and a young professional couple battled it out.

The property was announced on the market in the $780,000s and sold to the couple for $808,000.

Listing agent Angelos Stefanis, of Biggin and Scott, said the group did a few impromptu rehearsals in the property, but it was predominantly their meeting place.

In Elsternwick, one young family trumped three others to buy a four-bedroom Victorian home at 15 Murray Street.

Biggin and Scott Elsternwickauctioneer Bill Stavrakis announced the property was on the market at $2.95 million after consulting the vendors.

Though the reserve was about $2.8 million, Mr Stavrakis tried to entice more bids by throwing in some baby chickens from the local pet shop as a housewarming gift.

The winning family trumped their competition with a knock-out $25,000 bid to buy the home for $3 million.

“There’s always a shortage of stock in Elsternwick, particularly beautifully renovated homes like [15 Murray Street],” Mr Stavrakis said, adding some good results last year had given more homeowners confidence to sell.

On the bayside, a single-fronted circa 1890 Victorian terrace in Albert Park sold for $3.01 million under competition from four bidders.

An empty nester paid $660,000 over reserve for the Hawthorn brick beauty at 97 Page Street, just a short walk to the South Melbourne Foreshore.

Auctioneer Greg Hocking said the property struck a chord with the market, and described the sale price as a “real wow” result.