The four-bedroom house at 70 Gordon St, Elsternwick, sold for “just over $2.4 million.”

The four-bedroom time capsule at 70 Gordon St fetched “just over $2.4 million” in its first sale since being built for the vendors, now in their 90s, more than 50 years ago.

Rodney Morley agent Naomi Dorevitch said the lovingly-maintained property was on the market at $1.95 million and two eager bidders pushed the price skywards.

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The property at 70 Gordon St, Elsternwick, has changed hands for the first time.Source:Supplied

Its vendors had lovingly maintained the home for more than 50 years.Source:Supplied

“It was a pretty special house actually. It was a 1959-60s house that was kept in very immaculate condition and was royal blue all the way through,” she said.

“It was very avant-garde for its time and both the decor and architecture (were appealing) and given the radius of where the property sits between shopping, schools and all sorts of different religious denominations, it was just a very attractive position.”

The charming brick abode was designed by Bogle & Banfield architects and built by Hopcraft.

Ms Dorevitch said a young family who planned to live in the area long-term won the keys — and they weren’t particular fans of royal blue.

“They were fans of the house,” she said.

“They were happy with the colour scheme because it didn’t denote that particular green and orange of the 1970s, it had its own special aura.

“It wasn’t the blue that attracted them, it was the position and the house itself and no one was against the blue, anyway.”

Royal blue carpet and patterned wallpaper are distinct details.Source:Supplied

The agent said 1960s houses were sought after in the area.Source:Supplied

Ms Dorevitch said the vendors had decided to part ways with the property because they had moved to an aged-care facility and could no longer maintain it to their high standards.

She added there was huge demand for 1960s houses in the area.

The auction was among 1139 held across Melbourne last week, with CoreLogic recording an early clearance rate of 80.6 per cent from 1007 reported results.

In Malvern East, a deceased estate on the market for the first time in 77 years also attracted a big price after competition between five bidders.

The house at 28 Cairnes Cres, Malvern East, sold for $1.821 million.Source:Supplied

The property had not been renovated.Source:Supplied

Hocking Stuart, Glen Iris, director Steve Burke said the three-bedroom house at 28 Cairnes Cres sold for $1.821 million with a reserve of $1.61 million.

He said “young families buying to get into the area” drove the strong result.

In North Melbourne, an investor won the keys to an 1880s pub, comprising three apartments, for $1.815 million.

The hotly contested auction had five bidders competing for 18 Molesworth St with the hammer falling $315,000 above reserve.

An old put at 18 Molesworth St, North Melbourne, smashed past its reserve by $315,000.Source:Supplied

The property features three apartments.Source:Supplied

Woodards, Northern Carlton, director Jason Sharpe said bidding opened at $1.45 million and increased rapidly.

“The first few bids were more or less in $50,000 increments,” he said.

“Then from $1.75 million, it slugged out in $1000 and $2000 bids.”

Mr Sharpe said the buyers planned to retain the property’s three apartments — which were all rented — for a period, but may later move into it.

He described the three-level corner block building, once known as The Great Australian Bite, as an iconic property.

“Everyone knows it and it’s a rare commodity,” he said.

But another rare commodity failed to sell in Brunswick West.

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The old warehouse space at 487 Victoria St, Brunswick West, failed to sell at auction.Source:Supplied

The property has permits and plans for a three-level commercial and residential building.Source:Supplied

Despite a ‘wow’ ambience, a warehouse attracted just one bid before being passed in.

The former joinery workshop at 487 Victoria St included permits and plans for a three-level commercial and residential building.

Brad Teal, Brunswick, sales agent Lydia Wild said there was a genuine bid of $850,000 for the property.

“The reserve was $950,000,” she said.

“There were about 20 people there, with an older couple wanting to buy it for an investment — more for residential than commercial use — as well as a couple of first-home buyers.”

Competition between two young couples failed to get the Richmond townhouse of Jameka jockey Nick Hall to its reserve price.

Jockey Nick Hall’s pad at 1A Benson St, Richmond, also failed to sell at auction.Source:Supplied

The two-bedroom townhouse appealed to the young professional market.Source:Supplied

Marshall White, Hawthorn, agent Andrew Gibbons said post-auction the reserve price for 1A Benson St was $1.295 million and it remained on the market.

The two-bedroom property had proved popular with young professionals but was passed in at $1.1 million and an offer of $1.14 million was made shortly after.

“The interest has been steady. Richmond is sort of a little bit slow at the moment in some places but it’s been well received,” Mr Gibbons said.

“Richmond is always vibing with young professional couples, double income, no kids, and that’s sort of pulled back a bit. Prices are still going well. We’ve got quality buyers, not quantity.”

with Charlotte Durut

scott.carbines@news.com.au

Originally published as Blue belle’s red hot auction