1 Barnato Grove ARMADALE

Benefits

Higher positional potential for long term growth
Growth above average metro in last decade
Excellent land content as proportion of price
Higher risk as newer precinct
Good area pricing range meaning lower risk on resale

Concerns

Other properties in the street could be a negative issue
Poor street presence & facade
Possible security issues
Mal James
Mal James
Principal Buyer Advocate
0408 107 988
mal@james.net.au

Comments on 1 Barnato Grove ARMADALE

I think to most, the obvious is - a home of many options - appealing to many different buyer types:
• Overseas Asian market
• Land buyers
• Developers (STCA) - single dwelling covenant, so limited development
• Tennis court buyers
• Armadale buyers
• Move in - as is buyers (the home would be acceptable to some)
• So, Wow! A lot of potential buyer types.

Position is Armadale A grade - although for some reason Barnato despite being a cul-de-sac, has never got its act totally together in terms of a classy, consistent streetscape.

The property itself is flat, wide, north facing land with seemingly few additional council building restrictions (STCA and paperwork). The walkway around the perimeter is a plus or minus depending on your access/security mindset. Some road noise is there in the backyard - but we would have thought not a deal breaker for most. And the width - tennis court and some - a big plus.

The home - nobody is trying to pretend it’s an architectural classic and in fact the main advertising pic is for the rear, not the facade. BUT for me it's a blank canvas and a good one - work with its footprint (great setbacks) and start again or find a young and up and coming designer/architect who can do a little for a lot within the floorplan or as stated above for many its pretty good as is, with maybe a simple cosmetic update.

And so, to price - we see some value in the building, but not much (that's a big positive if you want to keep it as you have a free house almost) - all the value for us is in the land (good for growth) and land in Toorak/Armadale of this calibre is still going somewhat north in price, not south.

This will be an interesting auction.


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4
Bedroom
2
Bathroom
2
Parkings
1,285sqm
Land Area
Floor Plan Agent

Passed In - 1:00 PM Nov 25 2017

Quote $6,400,000 - $6,600,000

North Facing

Full James Rating Sheet

Be with James

Would you like to talk to us about finding or negotiating on your next home?
We buy 100 homes for our clients every year.
We buy Inner East and Bayside over $2m.