Fitzroy North

Home Truths Four

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Can you handle the truth? We’re back again for another Home Truths Melbourne roll of the dice on Saturday 9th April 2011, taking the temperature (ahem) of the local auction market and culture around property sales and buying. This week we have a diverse range of auctions, from a State Trustees number in Carlton North through to a tri-level townhouse in the depths of Brunswick. You voted for this week’s breakfast review (choices were Proud Mary, Birdman Eating and Cavallero), and we enjoyed a suitably delicious repast at Cavallero. We also enjoyed the company of Melbourne Property Manager extraordinaire Vicki Lekanis today, who answered our ‘One Hot Minute, My Breakfast’s Getting Cold’ questions about leasing and renting. Here’s this week’s Home Truths Melbourne.

Starting out in Carlton (La Mama, Courthouse Venue on Drummond Street), Editor in Chief Iolanthe Gabrie

Vibe: Enjoying the cool Tasmanian-style sunshine on a blustery Saturday. Sans Spirit of Tasmania heaving.

Wearing: Scanlan & Theodore Skirt, Threadless T-Shirt, Rubi Shoes, Tilkah necklace.

First stop of the day – Cavallero, 300 Smith Street in Collingwood.

I was so happy that you crazy Home Truths Melbourne kids chose Cavallero for our breakfast review, as I hadn’t been and the vaulted high ceilings and elegant ironwork front doors had been a-callin’ for quite some time. Plus, I was meeting my good friend and property manager extraordinaire Vicki Lekanis for the first of our Saturday morning ‘One Hot Minute, My Breakfast’s Getting Cold’ interviews. Double happiness. When I arrived at Cavallero I swiftly found a seat in the front window and was offered a coffee  – the soy latte came quickly.  

Nice dramatic iron door, huh? The soy latte was nutty and suitably strong…. giving me inspiration to peruse the extensive menu with artwork by Toby Pola on the back (below).

It was sweet sailing for me though, with not a rainbow vomit in sight!

The interior of Cavallero is elegant, with beautiful airy mahogany ceilings, plush padded booths and an outdoor courtyard. It is somewhat at odds with its central location on Smith Street (near Woolies and Gluttony) – it feels like Cavallero would be more at home on Gertrude Street which has become slightly more gentrified. However, it was full of fashionable young types which shows that a cultural change along main Smith Street is inexorably occurring.

Vicki and I ordered without ado, especially enjoying the Wind in the Willows quotes on the menu – a charming touch.

Check out these bad boys – baked eggs in a tomato sugo with fontina cheese, cavolo nero and sourdough bread.

Breakfast trifled with granola, yogurt and poached fruit. Winner!

Whilst nomming our way through these Cavallero treats ( Home Truths gives Cavallero a big thumbs up, go there before you start your next hunt for homes in Collingwood or East Melbourne!), Vicki and I got down to an interview focussing on her expertise in property management. Vicki is the Senior Property Manager for Caine Real Estate, with nearly a decade of experience in managing premium property in Melbourne’s blue chip neighbourhoods. Here are her words of wisdom.

Vicki Lekanis: ‘One Hot Minute, My Breakfast’s Getting Cold’ Interview

Home Truths:

 What is the biggest mistake tenants make in the leasing process?

Vicki Lekanis:

The biggest mistake is looking at too many properties and taking too long to apply. In many cases they might have seen a terrific place on a Friday, which will be leased by the time they get back to us with an application. Speed is important in application! Also, make sure to read texts of advertised properties carefully. Don’t assume that pool and gym amenities are part of the lease, nor the furniture depicted in advertising – clarify these points with your leasing agent. The best approach to leasing a property is to make a shortlist of five things your home must have, and focus on those items first in making your decision.

Home Truths:

What is the biggest mistake landlords make in the leasing process?

Vicki Lekanis:

I’d have to say the biggest mistake landlords make is choosing an agent based on their fee rather than their skill. I have clients that might be happy with my service but will want to argue over fees that might ultimately amount to the price of a coffee a week. Choose an agent that is relevant to the area, has a track record in their business, has a great team with suitably systems and processes in place and ask to see examples of their work – condition reports, routine inspections etc. There are lots of agents that will just do a ‘tick and flick’ form which doesn’t stand up in tribunals – a thorough agent will always make detailed notes for their landlords. Ultimately you will get what you pay for in property management services.

Home Truths:

Are open for inspections on Saturdays necessary for property management?

Vicki Lekanis:

I find that in East Melbourne lots of  our younger, professional clientele find coming to open for inspections after work the most convenient for them. When we do open for inspections on Saturdays, we don’t usually get the crowds of potential tenants we experience mid-week. I am all about doing open for inspections during the week and getting the property leased for the landlord before the weekend arrives.

Home Truths:

What is one unexpected thing that has come from your work in property management?

Vicki Lekanis:

I have to say that everyone you meet is a prospective client, and I’m finding at the moment my biggest referrers are my tenants! Agents often forget about tenants are simply think they’re annoying, always asking for maintenance. My philosophy is that you should treat all clients the way you’d like to be treated – you’ll never know where your next business is coming from.

Auction 1: 763 Drummond Street, Carlton North

Classic hawthorn-brick styling on this elevated Carlton North terrace.

Agents: Woodards & State Trustees, Danny D’Orazio

Time: 11:00 am

Punters: What a blustery and oddly mild morning –  the very substantial crowd is testament to Melbournian’s natural love and curiosity of the auction process. Lots of neighbours present having a chat… it did appear that there was a quite a bit of browsing at all the auctions we attended today. The feeling of the auction didn’t have that high-charged ready-to-do-business vibe. This particular home would be suitable for those wanting to renovate or extend, but we didn’t see many developers in the crowd either.

Rapunzel, Rapunzel… let down your hair! 763 Drummond Street’s next-door neighbour is the Albanian Australian Islamic Society. What a tower!

Review: 763 Drummond Street is located in a premium section of Carlton North, very close to the Rathdowne Village and other amenities. The home itself was elegantly elevated, guaranteeing any future owner years of enjoyable evenings with a cup of tea on the balcony surveying their kingdom. The interior of the home needed substantial work, but the size of the land was impressive with room for expanding the living space if necessary. The home was auctioned by Danny D’Orazio, representing the vendors who were State Trustees. Danny called a strong auction, impressing upon the crowd the benefits of the residence and its suitability for renovation. He also made it clear that a State Trustees auction meant business, and that his clients were committed to selling the property. The crowd remained silent, and Danny called a vendor bid of $800,000 – noting ‘even the council would buy it for that!’. There was one natural bid from the crowd at $805,000 before Danny called a second vendor bid at $900,000 and passing the property in. We hope that this beautiful home finds an owner to restore it to its former beauty!

Woodards’ Auctioneer and Listing Agent Danny D’Orazio giving a shout out to the crowd.

Auction 2: 30 Ryan Street, Brunswick

Agent: Jellis Craig, Simon Shrimpton on 0411 889 577

Time: 12:00 noon

Punters: Ryan Street is a narrow locale hidden behind the bustle of Nicholson Street, and it was looking mighty quiet at this open for inspection until 10 minutes before the auction. All of a sudden lots of prams wheeled out of nowhere and there was a good crowd of families looking for their next home! No renovators here, or newbie buyers – solid family investors were afoot.

Auctioneer and listing agent Simon Shrimpton encouraging the family crowd to raise their hands.

Review: I haven’t seen a house represent such good buying for a loooong time. And by ‘represent good value’, I mean that it ticks the suitability box for its key demographic – family buyers. Relatively new, this tri-level townhouse was built to a good quality and features three bedrooms, two bathrooms and a divided living area, plus parking for two. What more do you need if you want to live near the city and public transport – and all at the very reasonable quote range of $660,000 to $700,000? Simon Shrimpton called an engaging auction to a pretty chilly crowd – he really knew his stock and mentioned the potential rental of the property being $580 – $630 per week, also playing up the benefits of the home having no body corporate fees. Simon also mentioned a recent sale on Ivory Way (very nearby, part of the same development) which was an identical townhouse that sold for $717,500. Despite inspiring banter from the auctioneer, no bid came forth from the crowd causing Simon to call a vendor bid at $660,000. Simon then encouraged the crowd to ‘have a good think about what you are doing here today’ before making the auction rules clear regarding the benefits of being the highest bidder. The property was eventually passed in at $680,000 and is now available for private sale at $710,000. Have you got one or two kiddiliwinks? Make sure to check out this gem and move into a comfy family home – it’s just near CERES too!

Auction Pitstop: Milkwood, 120 Nicholson Street Brunswick East

 

A journalist can get very thirsty on a run, so we stopped off at the quaint and very ‘Brunswicky’ Milkwood. What a tiny cafe, bursting with happy afternoon munchers. We enjoyed a Phoenix organic lemonade before going on our merry way. Home Truths will plan a breakfast outing here in the future to try some of the delights on offer at Milkwood. This particular part of Brunswick is really enjoying a re-birth with lots of edgy and quaint cafes and arts spaces opening up.

Look at that sweet white-washed interior, stocked high with treats and denizens of Brunswick.

Gee, it’s almost like you’re right here with us drinking organic lemonade, friend.

Auction 3: 214 McKean Street, Fitzroy North

Agents: Nelson Alexander, Peter Stephens

Time: 1:00pm

Punters: What a mixed bag of lollies here. The home had a mix of qualities, but had no distinct buyer demographic as such. It needed extensive internal remodelling, although it had a first-class location and some very charming internal features to enjoy. Ultimately the kind of home an investor might purchase and put a tenant into as-is (an addition to a super portfolio perhaps?) or a owner-builder might move into and do work on stage-by-stage. Probably not enough ‘meat on the bone’ for a professional developer to consider.

Review: This little home was in a superb location in Fitzroy North – just around the corner from Queen’s Parade and amenities, but also located on prestigious McKean Street. Nestled amongst many imposing and grand terraces (and a church!) this  little one bedroom house is the ugly duckling amongst black swans. Auctioneer Arch Staver made much of this ‘ugly duckling’ factor, highlighting that buying the least attractive house on the most prestigious street was ‘investment buying 101’. The house had been strangely remodelled into a one bedroom with walk-in-robes, a generous slate-floored living room leading to a very charming kitchen (with cellar for wine, collection of John Farnham EP’s etc) and cute courtyard. Quite livable as is, but ripe for a renovation. The auction punters were very cagey, with nary a hand raised in the air despite Arch’s encouragement. A vendor bid was called at $650,000 with rises requested at $10,000 a time – to no avail. The home was passed in on a vendor bid and is now available for private sale at $700,000.

L-R: The charming listing agent Peter Stephens and Arch Staver, sharp Auctioneer.

And so ends Home Truths’ journey throughout Melbourne’s auction market. We hope that you enjoyed the ride and picked up some trends from our reports. Remember – in a weekend where properties pass in, there is always a great opportunity for an intelligent buyer to negotiate a home for a fair price. Get to it!

See you next week, Home Truthers!

*Home Truths Melbourne has gathered this information to provide an interesting document for readers and subscribers. Information contained herein is gathered from a range of sources including but not limited to; local press both virtual and hardcopy, Valuer General Information & Agents own investigations. All efforts are made to verify the information provided. The information is not to be relied upon or used in dealings with third parties and people should make their own investigations regarding their own property or personal circumstances. Opinions and observations offered should not be treated as fact.

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Home Truths Two

/ iolanthegabrie / 1 Comment

Hey. We’re back again for round two. Home Truths Melbourne was a hit last week, with more hits than we ever expected for the premier posting. Thanks to those who voted in the poll, Depot de Pain on Rathdowne Street was the winning brekky venue which is duly reviewed in this Home Truths – keep your eye out for a new poll each week. In this week’s Home Truths we feature four auctions in Melbourne’s inner-north from the 26th of March, 2011. Can you handle the Truth?

Starting out in Carlton North. Editor-in-chief Iolanthe Gabrie.

Vibe: Jeggings and croissants. Mais oui!

Wearing: Windsor Smith clogs. Tilkah Dynasty earrings. Bettina Liano Blouse.

You voted, we attended. Prior to beginning our auction run (along with it seems half of Melbourne, the auctions were all very well-attended today), we supped at the new Depot de Pain (voted by you!) located at 693 Rathdowne Street Carlton North. Right in the heart of the Rathdowne Village, this little gem is nestled not-so-far from popular Belki and almost directly opposite Curtin Square. Beautifully decorated throughout with a range of different seating possies (looking over Rathdowne, nestled in an antechamber or looking into an internal courtyard), Depot de Pain will suit anything from a big croissant-fest with girlfriends through to a cautious first date. Francophiles rejoice – even their welcome will warm your tummy. Checkout the front door image below. Charmant, n’est-ce pas?

Home Truths was warmly welcomed by owner Christopher Vivian, who chatted us through the impressive menu (available in addition to an array of Willy-wonka-esque patisserie and quality baked breads). We chose to imbibe a long macchiato and a croque monsieur, although Christopher recommended the Oeuf Hollandaise en Croutade with sides as their hero breakfast offering. The croque was delicious – a great mix of slightly piquant cheesy interior with a crisp buttery exterior.

All this luscious smoked-ham and Gruyère cooked to golden perfection in french clarified butter. Be still my beating heart. Literally.

Other things you might not know about Depot de Pain is that they also supply their delicious breads to Le Parisienne on Lygon Street, and that they are related to the excellent French Fantasies in South Yarra. This is a lovingly designed mecca to both quality breads and beautifully executed french foods, and replaces the gap in the Carlton North market now that Bagatelles has closed. Christopher also has a pantry of premium quality smallgoods which you can use to whip up your own french fantasy. Ahem.

Auction 1: G15/264 Drummond Street, Carlton ‘Rosso’

Agent: Hocking Stuart, Ben Harrison 0430 457 234

It’s a bit clockwork orange inside, with expensive-looking light fittings and long shi-shi corridors. Glamma!

Time: 10:00 am

Punters: This part of Carlton is right near the hub of Lygon Street (aka Brunetti, Readings & The University of Melbourne), so it’s a safe investment bet. As such there were a healthy mix of investors and owner occupiers vying for the home. Very cool-looking fash-forward bidders!

Review: This was a one-bedroom apartment, located to the side of the block. It had no views, and diffuse light through warehouse windows to the laneway. I personally really love Rosso, with its hushed corridors and designer fittings. The apartment had access to a fairly large courtyard which could certainly be dollied up with an outdoor setting and plants… but it did have some privacy issues. The kitchen was scandinavian-chic blonde wood, and there was a full walk-in-robe in the bedroom. Sweet.

The auctioneer was the experienced Carlton Hocking Stuart Principal Scott McElroy. (Inset below)

Scott had great starter banter, really illustrating the benefits of Rosso as a development. Unusually for a contemporary development, Rosso has very low body corporate fees. (Rosso means red in italian, and is not a colloquial aussie nickname in this instance.) Scott made mention of the ex-warehouse’s former incarnation as the location of University Press, as well as its great potential for investment return from the many students who lease in the area. The auction was opened up quite swiftly at 360k, and continued upwards in rises of 10k with little encouragement necessary. Scott was strong in dialogue, and continually refused to break down the bids to 5k or 2.5k until necessary. The property had three bidders, and pulled up at 400k where it was passed in and negotiated. The property sold for $420k.

Slightly blurry, although a lovely happy photo of Ben Harrison – the listing agent for this property. He’s not doing the Time Warp.

Auction 2: 26 Grant Street, Fitzroy North

 Agents: Chambers Real Estate, John Costanzo

Time: 11:00am

Punters: This home on superbly large land was also opposite the Edinburgh Gardens, which meant that the punters at this auction were mostly family purchasers and requisite neighbourhood local yokels. There was also one really cool little boy who had a Ben 10/Power-Rangers outfit on who seemed to be bidding furiously.

The image above was next to the Contracts of Sale and Auction Rules, and was a lovely reminder to the buying public about the legacy nature of this home. It had been in the same family for a long time, as evinced by the wedding photo taken outside 26 Grant Street circa 1950’s. A charming touch.

Review: This home was very well loved. It was a three bedroom home, but every room was immaculately and girlishly furnished (lots of roses!). You could really tell it was the end of one era and the beginning of another for this home. Perfectly located opposite the Edinburgh Gardens and near a gigantic fun-looking playground, it is also near the heart of Queens Parade and its bevvy of niche shops. John Costanzo called a brisk and efficient auction, making the most of the home’s 350 square metre land size and location. There were three key bidders throughout the duration of the call, which started off swiftly with an opening bid of 1.1 million. Rises of 10k continued upwards as the value of the home rose to 1.4 million before being called on the market. The bidding was so fast at one stage, John’s arms were flying and he acknowledged he was ‘doing the Macarena’. The home eventually sold under the hammer for $1,605,000 – a princely sum.

Beautiful old facade of home opposite 26 Grant Street, Fitzroy North. A reminder of the history of this unique area.

Auction 3: 20 Rutland Street, Clifton Hill

Agents – Nelson Alexander, Roland Patterson

Time: 12:00pm

Punters: It was like a Ramones convention at this cutie-patootie extra-wide single fronted home. So many Generation X’s you couldn’t swing a cassingle of Teen Spirit. The price quoted on this two bedroom residence with good-sized courtyard area was $550-600k which is at the lower end of the scale for a quality property. Perfect for a young couple or single person.

Review: Rutland Street is sequestered away on ‘the other’ side of Hoddle Street, past Schots home furnishings. The streets are quaint, but it’s a little isolated. This home was located opposite a rather sizable block of 70’s era housing commission flats, and the road finished up at the freeway. That said, the council had provided substantial sound-reducing walls to cut down on noise pollution. As auctioneer Arch Staver aptly pointed out ‘You should buy this house because it’s cheap’. Arch encouraged buyers to bid, and a bidder swiftly stuck their hand in the air at $480,000 for an opening bid. Arch graciously accepted, and noted that bids at that level made him feel like they’d ‘turned back the clock’ and stepped back to a property market from a decade ago. Several bidders pushed the property to 606k where it was announced on the market, before finally selling for 645k. A swift, engaging and professional auction which was enjoyable to watch.

Auction 4: 60 Curtain Street, Carlton North

Agents: Nelson Alexander, Peter Stephens

Time: 1:00pm

Punters: This was an older crowd, full of local faces from previous auctions in the area. It appears that the whole neighbourhood was out to see this Carlton North icon go under the hammer. As the home was a unique offering, I can’t suggest it appealed directly to any one demographic.

The interiors of The Cotton Mill, 60 Curtain Street were awesome. They had a definite Grecian vibe going on, with weathered copper heads on dramatic doors in the living zone. Very God of War (Playstation 3 Game, image above) inspired in aesthetic.

Review: 60 Curtain Street (also known locally as The Cotton Mill) sits grandly opposite Curtain Square, a unique brick building that looks like it’ll last another few hundred years guarding over the park. What a space! Definitely a niche-purchaser product, as the home is over three stories with stairs of varying degrees of difficulty on each. But so rich with history, and a home well-lived in. The ground floor had a unique living zone with ‘God of War’ style decorations, bathroom and a contemporary kitchen. Upstairs was another living area with glowing floorboards and park views, plus a separate study or third bedroom. Tom Roberts (auctioneer) spoke further about The Cotton Mill’s history, and noted that it has been a place that Paul Kelly and Archie Roach had recorded music. He spoke of the current owner’s love of the house, as he had purchased the home for the first time in 1982, sold it in 1989 – before repurchasing it again later. How Elizabeth Taylor–Richard Burton a love affair!  The auction itself was unfortunately quite silent, with Tom Roberts doing his very best to try and engage bidders in the process.

A live opening bid was underwhelming at $1.00 million on the knocker, which was swiftly followed up by a vendor bid at $1.1 million. The property was eventually passed in (after a brief vendor referral) for $1.2 million. It is now privately on the market for $1.280. Grab it while it’s there if you have a spare $1.28 million hanging around as this is a unique home, just waiting for an equally unique buyer to come along.

Well, that’s the end of Home Truths Two. If you’ve got any property coming up you’d like our journos to review, tell us in advance by emailing info@rubyslipper.com.au Also, make sure to vote in each week’s poll. This week lets you choose which Carlton Auction Home Truths attends.

We hope that you also enjoy the new Vitalsigns page with weekly Victorian Auction Stats, and hold tight for the upcoming Agentsays page. The best of Melbourne’s estate agents telling all!

See you next Saturday!

*Home Truths Melbourne has gathered this information to provide an interesting document for readers and subscribers. Information contained herein is gathered from a range of sources including but not limited to; local press both virtual and hardcopy, Valuer General Information & Agents own investigations. All efforts are made to verify the information provided. The information is not to be relied upon or used in dealings with third parties and people should make their own investigations regarding their own property or personal circumstances. Opinions and observations offered should not be treated as fact.