Preston period charmer sails beyond seller’s dream price!
Inner-ring properties with approved development plans fetch top dollar
An original inner-north house with potential for a modern renovation or development has sold strongly with five bidders competing.
The solid-brick 10 Livingstone Parade house, pictured above and below, had drawn large groups to the inspections, and eight buyers registered to bid at the April 20 auction.
“Strong bidding knocked out several buyers at the start and at the end were two first-home buyers, and it sold for a very strong result of $1.05 million,” Barry Plant Preston, Northcote & Thornbury director Loretta Khoo said.
The strong opening bid of $840,000 was quickly surpassed and the property took just 18 bids to sell, achieving a dream result for the sellers.
“The property was sought after because period homes that are unrenovated like this one are seldom listed, and many buyers want to be able to add their own style,” Ms Khoo said.
“It also had an attractive price point, ideal for first-home buyers, and is in a great location as well.”
The 405sq m block has rear right of way access with development potential and is near Plenty Road trams, schools, buses, parks, Preston Market, restaurants and High Street shops.
Ms Khoo also recently sold 5 Roseberry Avenue, Preston, a four-bedroom house on 476sq m, for $1.44 million.
The well-presented house with multiple living zones, manicured backyard and undercover entertainment area is in a central location near shops.
A front unit at 1/6 Salter Street, Essendon, pictured below, also sold strongly under the hammer on April 20 for $1.208 million. The single-level home, with a three-bedroom, two-bathroom floorplan, is near North Essendon Village.
Another Essendon property in a sought-after location near the Keilor Road cafes and shops drew strong interest. The home at 172 Ogilvie Street, pictured below, with approved plans for two luxurious new homes, sold for $2.3 million.
And investors, builders and developers were among buyers interested in 10 Rutland Street, Niddrie, pictured below.
The seller of the three-bedroom timber home on 650sq m had approval for two new four-bedroom homes to be built. It fetched $1.2 million.