4 Grong Grong Court TOORAK

Benefits

Higher positional potential for long term growth
Growth above average metro in last decade
Seemingly low additional cash required after purchase
Minimal ongoing outgoings
Area distance from CBD

Concerns

Possible overcapitalisation meaning higher risk on resale
Possible dating issues
Limited Backyard
Irregular land shape
Possible negative noise impact
Mal James
Mal James
Principal Buyer Advocate
0408 107 988
mal@james.net.au

Comments on 4 Grong Grong Court TOORAK

Grong Grong is a small country town in the middle of NSW, I know because I've been through it a few times on the way to my sister's farm.

4 Grong Grong Toorak is the antitheses of Grong Grong NSW.

4 Grong Grong is a statement and a formidable one at that - from the moment you enter the court, just off Toorak Road, to the time you shut the door on the way out - its WOW.

This is development at its financial best on these type of one-off offerings. The owners have taken land bought in 2014 for early $2m's, ridden the market up-curve and added a home that looks right up there in price, for I imagine - a cost, considerably below that.

What the owner has got so right is the big picture - the block choice and price, the fascade, the form, the home-type, the proportions and flow and rooms - the garaging, the yard, the lift and much more - the dressing room is sensational and will grab your attention and encourage a female hand to sign. The offering big picture is above average.

Where the owner shows they are still learning the game, is attention to detail - if you are going to ask the price you are, then the finishes and the whole presentation needs to be a lot sharper.

The overseas market, if we are to accept the news coming out of China, has every chance of easing; so the remaining target market of strength, will be local or European and their detail is so, so important.

A vacuum, some paint touch ups, the marble cracks, the timber join over the bookshelf in the study, to name some - all do not match the first impressions you gain upon entry. Those "misses" in turn de-fog the rose coloured glasses a little, and so questions in your mind are encouraged.

Such as: Ok if these are the finishes - what is going on behind the walls and actually is $9m a match to this location or is the area another corner not cut, but trimmed.

I seriously like this home - but if I was to be the buyer, I would want an independent building inspection - a cast iron guarantee from the builder that the myriad of little details (some of which will cost - marble fixes) will be rectified (to my satisfaction) and then the price I will pay may well still be strong, but lower than what the courageous and overseas targeted "ask" is now. 

It's a goodie in need of some adjustments.


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3
Bedroom
2
Bathroom
2
Parkings
630sqm
Land Area
Floor Plan Agent

Private Sale

Quote $9,000,000 - $9,900,000

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.