222 Esplanade West
BOUGHT* - $3,775,000
A huge crowd gathered to watch this auction. Oliver Bruce was at the helm and when asking for an opening bid, he was met with silence from the crowd. So Mr Bruce commenced with a vendor bid of $3,100,000 and asked for $50,000 rises. A moment later Bidder 1 agreed and came in for the suggested amount. Followed a further moment later by Bidder 2. Bidder 1 thou...

Crowd Numbers: 110 people
Bidderman: 3 bidders
 

222 Esplanade West PORT MELBOURNE

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222 Esplanade West PORT MELBOURNE

Benefits

Excellent street presence & facade
Good access and flow to outdoors
High ceilings
Within normal walking distance to rail
Excellent Backyard

Concerns

Minimal land content as proportion of price
Touches other properties
Possible dating issues
Mal James
Mal James
Principal Buyer Advocate
0408 107 988
mal@james.net.au

Comments on 222 Esplanade West PORT MELBOURNE

Rating Comments Sep 2014: This property is definitely one that catches your attention, from the moment you walk in ... until you walk out again.

Consideration has been given to both the beauty and practicalities of the home and the two have been integrated seamlessly.

For the size of the land, I struggle to fault the floorplan.  Two well separated living areas, central kitchen and private courtyard. There is also bedroom flexibility.  Although the three internal bedrooms are on the one level, there is good separation between the main and others, plus the separate studio over the garage.  Ideal for guests, older children or a home office.

Other positives include off-street parking for two vehicles, park down the road and moments walk to the action (shops, beach, restaurants and transport).

This property provides family living on a compact block size and buyers may wish to consider the break up of these components in the purchase price.

At certain price levels the balance of value between land and house may be more weighted in the favour of the home, and this is where buyers may wish to be cognisant that this home is about emotional outcomes, rather than prudent financial outcomes.

Having said that, if we only wanted to achieve financial outcomes, we would buy as much land as close to the CBD and live in a tent, so emotional outcomes are a normal component when considering buying a family home.

Ultimately, this is still a special home and with limited stock and multiple buyer interest, a good buying strategy will be required to maximise the chances of walking away the successful purchaser of the property.

Rating Comments Sep 2017: On my second visit to this home (we were an underbidder 2014); I began to see this as you see a fine red wine - it has got better with age. I have upped my rating score by 20 points. The only thing that for me does not seem to have improved with time is the price, if the agent quote is anything to go by. When this sold for just on $3m, 3 years ago in a competitive and transparent auction and the home would be even more sought after now and we have been through one of the biggest upswings in values in memory; I am feeling sorry for the current owners, if all they can muster is within the quote range. However in fairness I am not privy to circumstances and if they are sellers in that range and you can buy within the range; then you sir or madam will have bought not only a beauty, but a bargain as well.

This was a rare bird in 2014 and an even rarer one in 2017.

 

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One year on ... Hi Guys As the trees in ?? Rd blossom again, it reminds me of a year ago just prior to moving in. We were driving past our house almost daily, itching to move into the new neighbourhood and contemplating what life would be like. As we start to plan for some investment in restoration, we are still so thrilled to be here. I think back to ...more

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4
Bedroom
3
Bathroom
2
Parkings
222sqm
Land Area
Floor Plan Agent

Sold - 2:30pm Sep 2 2017

Quote $3,000,000 - $3,300,000

East Facing

Full James Rating Sheet
 
 

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