40A Lansell Road TOORAK

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40A Lansell Road TOORAK

Benefits

Great street
Close to Water
Within normal walking distance to rail
Above average precinct for general area
Higher positional potential for long term growth

Concerns

Limited Backyard
Significant slope issues
Irregular land shape
Requiring significant additional cash to purchase price
Mal James
Mal James
Principal Buyer Advocate
0408 107 988
mal@james.net.au

Comments on 40A Lansell Road TOORAK

40a Lansell attracts on price - $3m family looking home in AAA Toorak - on price alone it's worthy of consideration.

At $10,000 to $11,000 per sqm for land, based on sales a few hundred metres from here and Irving and Clendon sales in the last fortnight.

These sales say it should be in the range of $3,000,000 to $3,300,000.

However, it didn't sell at auction, (albeit with a mid $3m's quote) and it remains on the market at a time when despite a downturn, we are seeing A grade Toorak still rocking and rolling.

With that as a background - what are the plusses and minuses of 40a Lansell?

For me, the only real plus is price and you like what's here.  If you want this location and $3.5m after a reno is your budget, then this is almost your only alternative.

But on a $3.5m budget alone then you have other alternatives in other locations - such as 52 Oban St South Yarra which we bought.

So, let's look at 40a Lansell for what it is, before we consider what it can be - A double story quaint home in need of a renovation.

How serious is that renovation going to be? The answer best comes from who or why are you buying - to live in for resale/development.

Live in, the answers are a little easier - are you younger or older?

Younger, then the stairs and no ground floor bedroom won't be an issue - you just need to makeover and renovate. No flow to the garden and in fact, almost no real useable garden - one garage. If you basically like what is there and are prepared to renovate and want a lock and leave home, then (for me) this can work and it's a matter of what price now - with any future sale being for land only.

Older, and want to renovate - does the current configuration lend itself to renovation and perhaps we can answer this for an investor/developer as well.

The rooms are small, as is the overall house size. The services feel lacking and/or not in the right spot - eg wet areas.

To renovate - you may well see another bathroom, a downstairs bedroom, better access to garden/courtyard outdoor.

By the time you got seriously into reno's, you may feel it's just better to start again and put in a basement and a better configured/flowing first and second story.

If you are looking to live there then the price is not as important - the only question after the expenditure of say $3m plus $1.5m on a reno is - could you have bought better and closer to the action of shops and train etc - it's a fair walk on older legs.

If you are looking to bulldoze, and then develop then the question I would ask is, despite this being premium Toorak, would your immediate neighbours who look similar now, drag you down when they surround your new build?

All good food for thought - this works for me at the right price if you want to renovate for you and what you currently see is basically what you like with some modern cosmetics.

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3
Bedroom
1
Bathroom
2
Parkings
340sqm
Land Area
Floor Plan Agent

Private Sale

Quote $3,200,000

East Facing

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