25 Victoria Avenue CANTERBURY

Benefits

Higher positional potential for long term growth
Growth above average metro in last decade
Excellent land content as proportion of price
Good rental prospects
Higher risk as newer precinct

Concerns

Other properties in the street could be a negative issue
Poor car garaging
Mal James
Mal James
Principal Buyer Advocate
0408 107 988
mal@james.net.au

Comments on 25 Victoria Avenue CANTERBURY

Position: Canterbury's Golden Mile - the most prolific premier precinct for Beijing buyers - prestige, schools, huge blocks, limited heritage concerns.

Property: While in many ways its about the precinct and the land size and that is what will ultimately be the top 2 key factors in determining price - it is in some ways also about the home and wether you view it as having value or not.

The building for me is one of some beauty - it has a really good feel about it - excellent room sizes, good flow and floor plan wings, all on one level etc.

However you could equally argue, that while its façade is good for a $4m home, its probably not a standout facade closer to $10m.

Garaging and the flow to the living areas are ok.

On top of that, you may end up paying not much more than land value AND unlike its cousin directly to the west there are no special development overlays in this street, as well there are no heritage overlays - you can bulldoze (STCA and please I have not seen paperwork).

All this seems a funny thing to say if the buyer is a buyer for the home - they will think I'm a few sandwiches short of a picnic.

The precinct is A++ the land is A++ and the home is A- but that is still very good.

Price: Even though this is Golden Mile Canterbury, it's still not the street where the big bucks fall. 6 of the 7 sales on these land sizes in Canterbury at this asking price have been in the street one over - Monomeath - the other sale over $10,500,000 was on Mont Albert Road.

In fairness there have been no sales of this land size in Victoria street in recent times - all have been around ½ the size and that has been reflected in the sale prices.

This last sold in the early 2000's, so history is no recent guide to price and the home has undergone a cosmetic renovation plus addition of tennis court since then.

Are you at $3000 per sqm on this land holding size or are you $4,000 per sqm and if you are, is their significant value in the home or is it a nice makeover which will be replaced by a new build?

And if it is a new build = is this the street or is the one next door a better bet, circa $10m, in the long term.

This is a substantial and very good home worthy of serious consideration on many fronts.


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4
Bedroom
3
Bathroom
2
Parkings
2,350sqm
Land Area
Floor Plan Agent

Private Sale

Quote $9,000,000

West 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.