“The property was on the market for a total of 15 days, and so we decided to pull the trigger on an auction with only four days’ notice,” he said.
“That was the big draw card for buyers, that it had a wide frontage, and they can build a luxury home with very good street presence.”
11 Campbell Road, Deepdene sold for $3.776 million at auction on Saturday. Credit: Kay and Burton
It was one of 923 properties scheduled to go under the hammer in Melbourne on Saturday.
In Carlton North, a first home buyer nabbed the keys to a three-bedroom fixer-upper for $1.4 million during post-auction negotiations.
The first home buyer offered up the sole bid of $1.36 million for 580 Station Street and the property was passed in.
She offered up an extra $40,000 during negotiations and purchased the home for below its $1.43 million reserve.
The semi-detached home was listed with a price guide of $1.4 million to $1.45 million.
Nelson Alexander auctioneer James Pilliner said the buyer was renting in a neighbouring suburb and that buying in Carlton North was her first preference.
Pilliner said the property was previously being rented out and was priced lower because it needed a lot of work.
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“An investor sold it and then a first home buyer bought it, so that’s kind of perfect in terms of the transfer of housing,” he said.
“It is liveable, so you can live there and just fix it up as you go, which is a much more attractive property than one that needs 50 per cent of the house demolished … that appealed to this buyer particularly, that she could just chip away at it for several years.”