136 Page Street
PASSED IN - $6,250,000
It was a slow start at 136 Page Street Middle Park. Auctioneer Kaine Lanyon did his very best to encourage an opening bidder however no hands in the crowd of 90 were raised. After a lengthy pause, Mr Lanyon reluctantly put forward a vendor bid of $5,800,000 and called for bids of $25,000. Just when it looked like there would be no bids, Bidder 1 raised a han...

Crowd Numbers: 90 people
Bidderman: 3 bidders
 

136 Page Street MIDDLE PARK

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136 Page Street MIDDLE PARK

Benefits

Great street
Above average land size
Excellent street presence & facade
Excellent car access
Close to Water

Concerns

South facing rear (negative light issues)
Requiring significant additional cash to purchase price
Touches other properties
Kitchen needs work
Not enough bathrooms
Bathroom no ensuite
Proportions/quality of living/dining room
Mal James
Mal James
Principal Buyer Advocate
0408 107 988
mal@james.net.au

Comments on 136 Page Street MIDDLE PARK

Key Points

1.       136 Page is a large land parcel and therefore somewhat unusual. Unusually large parcels in this precinct are highly sought after, generally by people with deep pockets.

2.       The area is regarded as one of most expensive land per sq metres in Melbourne.

3.       Page is one the best streets in the area - this block is opposite a school.

4.       Side and rear laneway give excellent access on three sides.

5.       Good block width (10m) gives a real feeling of expansiveness.

6.       The home can best be divided into four parts

a.       Excellent façade and front rooms that could be reconfigured to include an ensuite and study/entertainment rooms etc

b.      Transition area between front and back that brings in light - works well, but needs an update

c.       Rear living space that is past its use by date and appears best demolished and rebuilt with the two bedrooms upstairs to give the home the necessary modern accommodation options

d.      Yard and garaging which needs a refurb/rebuild and perhaps should include open garaging which allows a feeling of space and would enhance any large entertaining requirements

7.       The main issues do not revolve around any doubt as to the quality of the offering they revolve around

a.      Renovations

b.      Price you have to pay to beat competition (which we would expect there to be)

c.      Strategy to secure against that competition

8.      In all likelihood a home that will require the buyer to fight if they are to be the purchaser 

I have a history with this property - two years ago an underbidder at mid $5m's, looked at it again as off market a few months ago and now considering it again under the hammer.

If you buy, you will be the fourth owner is as many years and nobody has spent a cent to fix it.

It cries out for a reno - it feels like it could be well reno-ed. I can't see why it has had so many masters/mistresses other than circumstantial coincidence.

The current owner must be thinking north of six in a normal world - for you, its how much north are you prepared to go and how far will you have to go - a few alternatives are sneaking onto both the on and off market scene and 91 Kerferd and 204 Page didn't fly come auction day - so maybe not 6.

Need a bidding and negotiating plan as $500,000 and then some are the starting parameters between good and not so good buying and selling - the latter two are diametrically opposed and $500,000 is a lot of money.

 

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Fortunately, you were able to negotiate a price that the "head" can accept . Dear Gina and Mal, Thank you very much for your help with the purchase of our new home. While the decision to proceed yesterday may have appeared a bit rushed, I believe it was the culmination of months of our ground work together. We were perhaps following our hearts more on th ...more

Nisha & Suraj

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5
Bedroom
2
Bathroom
1
Parkings
550sqm
Land Area
Floor Plan Agent

Sold - 2:30 PM Sep 9 2017

Quote $5,700,000 - $6,250,000

South Facing

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