39 York Street
BOUGHT* - $2,676,000
James Tostevin commenced proceedings at this York Street auction today. Upon asking the crowd for their opening bid he was met with a strong response of $2,300,000. Bidder 2 didn't hesitate with a $50,000 rise and the same with Bidder 3 who came straight in at $2,380,000. Two bids later and we were on the market at $2,420,000 without the usual break needed. ...

Crowd Numbers: 70 people
Bidderman: 5 bidders
 

39 York Street SURREY HILLS

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

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

Comments on 39 York Street SURREY HILLS

Rated as land only: (STCA)

The big positives are the position and the block size.

I rated 39 York as land only although there is perfectly liveable home on it.

Because there is little you could do with this current home to improve without starting again (in my opinion) and at the price you will have to pay to be the buyer, it doesn't make sense to renovate as opposed to starting again. You could lose the whole back area and go up you but you are hamstrung with regards to block size v rear yard size because the home is poorly positioned on the block and the degree of slope.

So if you dismiss the home as only a short term proposition to live in or rent out, then how is this as a block of land? It's a good block and its location is excellent in relation to shops, trains etc and the street itself has a good feel.

The block is a big one at 924sqm - not uncommon for the area - and has a west facing rear. Apart from the slope from front to rear which could be addressed with cut in's and fills on a new home, it has excellent characteristics.

And so to price - what price is land going for in Surrey Hills?

Some recent sales at Felix, Wandsworth and Guildford - say $2200 to $2500 per sqm = $2,000,000 to $2,300,000 plus any value for the home - $200,000 to $400,000?


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What our clients had to say about James

you invested the time in getting to know us and fully understanding our needs as a family. Hi Sim Thank you for all your work in securing our new home. In turning things around so quickly in just three days from calling the agents to arranging the pre-auction sale this was only possible as you had invested the time in getting to know us as and fully under ...more

Sue & Andrew

HAMPTON

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4
Bedroom
2
Bathroom
4
Parkings
924sqm
Land Area
Floor Plan Agent

Sold - 1:30 PM Nov 26 2016

Quote $2,200,000 - $2,500,000

West Facing

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