15 Spring Street
BOUGHT* - Undisclosed
Spring Street sprung quickly into action with an opening crowd bid of $1,650,000. No words could entice a follow on offer though and a half-time adjournment was taken. Auctioneer Nathan Waterson was momentarily distracted at the return, realising a parking officer was slapping an infringement notice on his car parked at the end of the street. The parking off...

Crowd Numbers: 30 people
Bidderman: 2 bidders
 

15 Spring Street PRAHRAN

Benefits

Higher positional potential for long term growth
Growth above average metro in last decade
Good rental prospects
Seemingly low additional cash required after purchase
Minimal ongoing outgoings

Concerns

Possible dating issues
Poor street presence & facade
Poor car garaging
Mal James
Mal James
Principal Buyer Advocate
0408 107 988
mal@james.net.au

Comments on 15 Spring Street PRAHRAN

Rock or classical? If Iggy Pop turned up at a Mozart concert it would probably cause some confusion. And this home might too. It is a contemporary oasis in a sea of classic period homes. The question is how it will age and how the market will regard it in 5 or 10 years.

So, if this home feels like it's out of place, why is it scoring so high? Because what it does, it does well: a northern orientation for light and a floorplan that uses it properly; a good main bedroom with separation from the lower rooms; decent sized bedrooms and an attractive rear deck; and when the rear doors are opened out to the deck it feels airy and comfortable.  It is also located very well for shopping and coffee. And with just enough grassed area for small kids, this property might suit young families or professional couples.

The big question comes back to the facade. This one is so different it might be a deal breaker for some. How well this facade maintains its appeal into the future will be important factor in terms of future demand and, therefore, capital growth.

 

Mal James's Comments on 15 Spring Street PRAHRAN

At first glance this property doesn't look like it would be a high scorer. Standing out the front you could be forgiven for thinking that the home has been transplanted from Richmond into Prahran. The facade is architectural and very modern - and it looks a little out of place in a street full of period homes.  

But the home itself is virtually flawless inside, and it makes excellent use of the 227 square metres available. The master bedroom upstairs is top class. It's big, has a walk-in-robe and a modern, elegant ensuite. It also has a balcony which captures the northern sun and is big enough for a couple of banana lounges. The kitchen and living areas are open and well-lit and the rear screen doors open completely, allowing for a great flow of fresh air through the home. This property could well suit professional couples or even a young family, as there is a little patch of grass in the back yard to play around in. There is a lane behind the property, which means it could be possible (STCA) to make room for a car by removing part of the back yard and decking.

The location of the home is also excellent, with Hawksburn Village only a few minutes walk away. 

The undeniable issue here is the facade. Period facade homes have an appeal that endure through time; the appeal of modern facades, however, are more susceptible to changing trends, which is really the only big question this home raises. How well this facade maintains its appeal into the future will be important for demand and therefore capital growth. Having said that, it is by no means unattractive, it is just very different to its neighbours.   

 

 


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3
Bedroom
2
Bathroom
1
Parkings
207sqm
Land Area
Floor Plan Agent

Sold - 10:00 am Nov 23 2013

Agent Declined Quote

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.