4 Gray Street BRIGHTON

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
Negative privacy issues
Mal James
Mal James
Principal Buyer Advocate
0408 107 988
mal@james.net.au

Comments on 4 Gray Street BRIGHTON

4 Gray Street has seen a complete transformation, from a single-storey 80s home which dominated the site and left little in the way of garden space, to the home it is today. It now not only provides multiple living spaces and good bedroom separation, it also has a practical, well-thought-out backyard.

Internally, the rooms are well-proportioned with good ceiling heights, plenty of cupboard storage and direct entry from the garage. The bedrooms are well-separated, and all have the added bonus of ensuites.  There are two options for a main bedroom: an upstairs bedroom which offers extra wardrobing and a bath in the ensuite, or a larger bedroom downstairs that has a narrow walk-in-robe, which may concern some buyers.  For those with younger children the option to be upstairs while the children are small, and downstairs as they get older may provide additional appeal. 

The home offers three distinct living spaces, although the formal and informal living areas are both downstairs and cannot be separated, so for some buyers this may be seen as a two-zoned home, not three.  Buyers will be divided on the appeal of the feature walls.  Personally, I wasn't completely taken by the two feature walls in the lounge.  Whilst no doubt supporting the upstairs structure, I would have preferred to see only one, though this is unlikely to be a deal breaker for buyers.

Overall, for families of both younger and older children, the floorplan works well.  The kitchen/meals/living area has full views to the pool, lawn and outdoor dining room, ideal both for keeping an eye on younger children and for providing easy entertaining solutions.  I could be picky and note that the home lacks a large walk-in pantry. Although unlikely to be a deal breaker, this is something many buyers expect, especially as properties move up the price chain. I also felt the staircase was just that - a staircase, functional and well-positioned, but narrow and lacking in grandeur.

One of the main concerns for me was the lack of privacy as a result of overlooking in the backyard from the property on the southern boundary.  However, at the moment landscaping is minimal.  Some improved landscaping/hedged screening on the boundaries, especially between the pool and southern fence, would improve this over time.

With four buyers in the next price bracket at a recent EOI (expressions of interest) campaign for another modern home, 38 Cochrane Street, Brighton, it may be fair to assume that competition in  the $2-3 million buyer range is likely to be strong, as quality stock is still hard to find at the moment. 

4 Gray Street is a modern home, and although the facade has yet to stand the test of time, the floorplan has flexibility and the property is located in a very functional family position - a walk to train, beach, cafes and schools.  Next door, no.2, sold in excess of $2.5 million back in April 2011.  This result, in what many would say was not as strong a market, may provide an indication on price and expectations for no.4.

 

 

 


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5
Bedroom
3
Bathroom
2
Parkings
650sqm
Land Area
Floor Plan Agent

Passed In - 12:00 pm Mar 29 2014

Quote $2,650,000 - $2,800,000

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