9 Rubens Grove
BOUGHT* - Undisclosed
A top Canterbury street and 80 turn up to watch with interest. The bidding from two groups was cautious (slow) and after an opening of $3,400,000 there were some long pauses between $10,000 rises. Auctioneer James Tostevin referred to his vendors at $3,460,000, the property passed in at this sum when no further bidders emerged and the underbidder had called ...

Crowd Numbers: 80 people
Bidderman: 2 bidders
 

9 Rubens Grove CANTERBURY

Benefits

Higher positional potential for long term growth
Growth above average metro in last decade
Higher risk as newer precinct
Lower risk established look
Area distance from CBD

Concerns

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

Comments on 9 Rubens Grove CANTERBURY

Rated as land only - Going through the home I could not see a way of keeping what is there.

If you kept the home, then due to tight stairs and it needing a full reno out the back, when completed you still had a timber home and it feels like you would over-capitalize - while still not getting everything you want - for close to the cost of a new build.

You can bulldoze (STCA - says agent) and that is what I would do. Can't see any real tree issues either.

The issue is a buy and hold, with a view to bulldoze - will the council place a post auciton Heritage Order on it? Nobody knows that for sure, but with this facade there is a risk element.

Location is A plus to all things amenity wise and across from a park you would use.

So how much? Pretty simple when you see what 29 went for recently - auction struggled - but the biggish asking price, was achieved post auction (a week or two later if I recall). Use that as the square metre rate and work backwards to find value.

Good block. 

Post Auction Analysis: 2 bidders - sale price was $3,460,000 (868 sqm) or $4,000 per sqm - similar to 29 Rubens $4,050,000 (1066 sqm) or $3,800 sqm


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.

5
Bedroom
2
Bathroom
2
Parkings
868sqm
Land Area
Floor Plan Agent

Sold - 12:30 PM Sep 9 2017

Quote $3,450,000 - $3,700,000

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.