7 Mangarra Road CANTERBURY

Benefits

Higher positional potential for long term growth
Growth above average metro in last decade
Excellent land content as proportion of price
Area distance from CBD
Above average precinct for general area

Concerns

Poor rental prospects
Requiring significant additional cash to purchase price
Significant ongoing outgoings
Lower risk as established precinct
Possible overcapitalisation meaning higher risk on resale
Possible dating issues
Other properties in the street could be a negative issue
Mal James
Mal James
Principal Buyer Advocate
0408 107 988
mal@james.net.au

Comments on 7 Mangarra Road CANTERBURY

7 Mangarra Road has been on the market for a long time I remember seeing it in my travels, but had never bothered to go in. Hmmmm … what a project.
Look, there is nothing practical about the purchase of this home, but everything wonderful about the purchase of this home. It really is a country property in Canterbury, and very rarely do you find something like this.
As you walk in you think OMG this is ridiculous, but as you start to walk through this space, even when you walk out the back it almost feels like a church hall - you start to let your mind wonder. 100 – 150 years ago this is basically what the house looked like and felt like. It would cost a fortune to renovate and fix but WOW.
Do you want to do that? Is it worth it? If you want a truly unique home, then quite possibly you need to think about this.
As I said, standing in the backyard, looking at trees in certain spots and just looking back on the very unusual roof with the slate and the chimney - thinking well, how would I do this all? I am also thinking if I could work out a way or a smarter architect could work out a way, then this could really be an incredibly interesting family home to bring your children up in.
There is this little studio up the top, up a little staircase, its charming. The kitchen, well I wouldn’t call the kitchen charming. I look at the kitchen and go it is almost third world, but you could fix it up with some money, a fair bit of money.
Okay, where would you put the bedrooms and everything else? I don’t know, you will need to think through this, there really needs to be a lot smarter person e.g. an architect e.g. a good one e.g. a good one with a period flavor about them and you would need to have a matching builder.
There is nothing cheap about fixing this place up, but it is not really that repeatable. I actually like this, for all its impracticalities and there are many, I do like the feel.
What's it worth? With all the heritage restrictions and the size of the project on the negative side - but its uniqueness and feel and location on the positive who knows? To be honest this is one of the ones where I have to say I have no bloody idea until one buyer opinion = one seller opinion and then I will know what it is really worth. Having said that - it would have to be at a discount to normal land value in all liklelhood.


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.

4
Bedroom
1
Bathroom
3
Parkings
Land Area
Floor Plan Agent

Sold - 12:00 PM Jun 15 2019

Quote $3,000,000 - $3,300,000

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.