2 Laurel Court
PASSED IN - $3,900,000
The weather was hot and sticky but that didn't stop a good crowd of around 120 people attending this auction at 2 Laurel Court in Hawthorn East. This house was a beauty, and it attracted good amounts of interest during the campaign, but would that result in a strong auction? The hot weather didn't seem to bother auctioneer Mark Dayman who wore his full suit ...

Crowd Numbers: 120 people
Bidderman: 2 bidders
 

2 Laurel Court HAWTHORN EAST

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

Minimal land content as proportion of price
Below average land size
Roof needs closer inspection
Mal James
Mal James
Principal Buyer Advocate
0408 107 988
mal@james.net.au

Comments on 2 Laurel Court HAWTHORN EAST

2 Laurel is situated in a court just off Harcourt - so limited traffic, not too far from the park and in amongst some big homes. The position part of the formula is right.

The block for a home over $3m is on the small side but it is west facing for afternoon/evening light.

Brand new home on a smaller block it looks good form the street having a neutral façade that has less tendency to date quickly than many others I have seen.

Over 3 levels the home has obviously been well thought out to what a modern family now demands at this price level. First up big underground basement plus a lift and two possible master bedrooms  - one on each level meaning parental separation or closeness. This formula works for all stages of the buying cycle from younger families to older couples meaning a wider demand and on resale in the future. So they have the property part of the formula right.

The finishes haven't been skimped on although I find the window frames a bit industrial and therefore lacking in feel.

The floorplan starts well at the front and the wide boards work - lovely wide staircase to the south on entry is above average and leads to a WOW floorplan on the second level. Another interesting addition  is I would actually use the balcony off the master upstairs - a contemplative place and a plus.

Kids bedrooms revolve nicely around the bathrooms and all the downstairs living is orientated to bring in the north light.

While on the north - what are they building there? (needs investigation as to how it will affect you) - that was an auction we attended last year which absolutely boomed for a similar sized land. That land went for just over $1.6m - this is 10% bigger plus all the plans have been done - therefore saying $1.9m for the land.

Is the home worth $1.6m making the agents quote realistic - I think yes - so if that quote is real then the market could decide this come auction day rather than just another pass-in. And that may mean they have the third P formula - Price also right

Really good home. The 3P's - Price, property and Position all work for me

 

Mal James's Comments on 2 Laurel Court HAWTHORN EAST

2 Laurel Court is all about lifestyle, and the package works well for an older growing family. While the façade is modern there is no real tackiness, and one would think it would age gracefully. Rooms are well proportioned and the space flows nicely - as always it is good to see the inclusion of a lift (given the house is built over three levels) and there is good mix of formal and informal spaces. Newly built and sparsely furnished, it is often hard to beyond the clinical nature of a house (not yet a home) like this one, but there is good wall space internally for artwork and some opportunity to improve the landscaping externally. Position is good  - close to all the key private schools and East Hawthorn & Camberwell hubs yet setting is quiet - this should always underpin value going forward.

 


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You guys were so professional and understanding. Thanks again for all the help Mal, Gina & Simone, you guys were so professional and understanding. I don‘t think we could have done it without your help. You all were outstanding and made us feel very comfortable the whole way through Thank you! Emily & Baden

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5
Bedroom
4
Bathroom
2
Parkings
587sqm
Land Area
Floor Plan Agent

Private Sale

Agent Declined Quote

West Facing

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