Home Truths Six

After a few weeks away from the Melbourne auction market whilst journeying in America, Home Truths is back with edition Six. Did you miss us? Saturday 14th of May was a horribly rainy, windy and suitably Melbourne-ish wintery day. Good day to be inside… not so much fun if you’re an estate agent or a hopeful buyer however. We review +39 as our restaurant this week (having lunch rather than brekky to shake it up a little) and feature three properties – two in Carlton and one in Thornbury. Enjoy!

Starting off in Carlton, Editor-in-Chief Iolanthe Gabrie (having just removed herself with regret from the hydronic heating).

Vibe: Will all this rain and wind cause a drop in clearance rates for Victorian Auctions? Will I succesfully complete today’s auction reviews without frostbite?

Wearing: Mimco beanie, Lorna Jane cupcake-pink fleece, Chanel Mademoiselle perfume.

Instead of breakfast this week, we thought we’d tantalize your palates with heavier fare – it is after all in keeping with the wintery blast that your tummies are yearning for something a little, well – heavier. We ventured to the CBD to +39 Pizzeria, voted as the best pizzeria of 2010 by The Age. Owned by the rather gorgeous Remo Nicolini (brother of Tony Nicolini of Carlton Espresso & D.O.C fame), this no-nonsense mildly industrial feeling restaurant pumps out the pizza lovin’. I cannot recommend this restaurant MORE as the perfect piping hot pick me up in between open for inspections. El husband had a Margherita (served by a suitably Eurovision-esque lovely waiter) which was cheesy and crowned with fragrant, fresh and un-torn basil leaves.

I enjoyed a Capricciosa (I know it sounds like a dull choice, given that +39 do an ‘Aragosta’  pizza topped with caviar and lobster… but the fragrant ham won me over!)

If this little piece of Italy can’t un-freeze the cockles of your heart after a loss at auction, well – there’s not much hope for you. Crispy, chewy and most importantly JUICY – this is an impressive pitstop on a Saturday.

Auction 1: 38 Rathdowne Street, Carlton

Time: 10:30 am

Agents: Nelson Alexander Carlton, James Keenan

Inset: Mark Verrochi taking names prior to the auction at 38 Rathdowne Street.

Punters: A very mixed bag of potential purchasers at this rainy-day auction. A smallish crowd of around 30, it appeared to mostly be young couples, or small families with one child.

Review: 38 Rathdowne Street is a contemporary townhouse-style property which is architect designed and features a raw concrete-style minimalist facade and quality modern kitchen. Quite compact but very attractive throughout, the home is perfect for a couple upsizing (or downsizing if you don’t mind a few stairs) and very close to the amenities of Carlton. Quoted at 700-770k by Nelson Alexander Director James Keenan and auctioned by Tom Roberts, the damp crowd were quite silent at the opening of the call. This was a trend Home Truths saw repeated at all auctions we attended today. Tom highlighted the excellent location, flexible accommodation and hydronic heating of the home to the buyers, but eventually had to call a vendor bid of 700k. After going in briefly to refer to the vendors, the home was passed in at 700k. Negotiations continued post auction, with the home successfully selling shortly after for 760k. This goes to show that simply because a property is passed in at auction, it doesn’t mean that a buyer isn’t lurking in the crowd or that a sale isn’t achievable.

Inset: James Keenan (holding notepad) and Tom Roberts rain-dancin’ the showers away towards a successful sale at 38 Rathdowne.

Auction 2: 106 Faraday Street, Carlton

Time: 11:00am

Agents: Nelson Alexander Carlton, Tom Roberts

 Punters: A true who’s who of the Carlton neighbourhood at this auction! About 100 metres from the previous auction at 38 Rathdowne Street, but a world away in terms of buyer demographic. Older buyers were coming through the home, which made sense in terms of price point for the house ($1.220 was the opening vendor bid) – but seemed incongruous with the actual layout of the residence which had extensive and very steep stairs. A limited time that an older person could reside in this home, methinks.

Review: What a magnificent home! This regal Victorian home gave your editor serious FOMO’s (fear of missing outs). Beautifully renovated throughout and with a very feminine sensibility, this home will make whoever claims it as their own happy for quite a while I daresay. Generous formal living room, beautiful marble kitchen with a Philippe Starck-ish vibe going on and proper-sized yard for entertaining. Upstairs two of the bedrooms were charmingly wall-papered in toile, adding to the cosy feel of the residence. In terms of position, you couldn’t ask for more. A quick hop to Brunetti, D.O.C, Readings and the supermarket, and very close to public transport on Nicholson Street. All these features made the buyer’s steely resolve to not put up their hands and bid the more puzzling. Tom Roberts (listing agent and auctioneer, a good combo) was engaging and determined, describing the detailed renovation the home had undertaken. American oak floors, marble lined bathroom etc. He also made mention of how he’d recently undergone a renovation and was now almost a part of ‘Renovator’s Anonymous’. The point made was that renovation is a challenge, and a ‘break even’ is not always immediately achievable. Despite his encouragement, Tom needed to call a vendor bid of $1.220 to get things going. After referring to the vendor briefly, the home was passed in at this level. It is currently available for private sale at $1,340,000.

Inset: Janine Ballantyne and Tom Roberts mid-auction at 106 Faraday Street, Carlton

Auction 3: 317 Raleigh Street, Thorbury

Time: 1:00pm

Agents: Barry Plant Northcote, Luke Brizzi

Punters: Definitely a neighbours peeking fest, with what seemed like a crowd of mostly Nonnas, Nonnos, Yia Yia and Papous making up the crowd. There were several serious-looking parties in the mix however, with this substantial residence suitable for a young family or alternately a savvy developer looking to knock down and build townhouses. The amount of choice on the market has certainly affected the rate of activity at auctions currently, including the amount of active punters showing up.

Review:

Inset: Luke Brizzi encouraging the crowd to put their hands in da air like they just don’t care.

I’ve got a soft spot for Raleigh Street in Thorbury, having been a previous neighbour on the street. Thornbury and Preston still represent relatively good buying for first-home owners and young families who’d like a little yard without having to go all the way to Tarneit. It’s got great amenities such as the Station Street shops, and High Street is full of young up and coming businesses and cafes. 317 Raleigh Street has lots going for it, most noticeably its substantial land component of 600 sq metres odd. The residence itself is an 80’s style brick veneer with both front and rear yards, several bedrooms and formal and casual living areas. It’s in good nick, but probably needs a little further updating. Totally livable, however. Auctioneer and listing agent Luke Brizzi made the most of the location and amenities in his pre-call patter, and highlighted the convenient situation of the property. Despite encouragement, Luke needed to kick things off with a vendor bid of $800,000. After referring briefly to his client inside, he then passed the property in. Strangely enough, the very thing going for the home (ie excellent land and potential for development) is probably the thing that holds it back. The home is sizable – the land even larger – but the sale price of the home (now available for private sale at $1,065,000) precludes it from appealing to first home owners or starter families. Most likely a developer project ahoy, as the home has a driveway making it perfect for a set of townhouses. Watch this space!

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Home Truths Five

Welcome to Home Truths Five. It’ll be a mini-Home Truths this week, as your editor is off on an overseas sojourn this week. We’ll be back in two weeks at full power though, peeps. We focus our brekky review on Birdman Eating on Gertrude Street, Collingwood this week and feature a Carlton Auction. Enjoy – and hang in there for a couple weeks until we return!

Starting off in Carlton on an unseasonably warm morning, Editor-In-Chief Iolanthe Gabrie.

Vibe: I’m gonna hug me some Disney Princesses in Disneyland next week.

Wearing: Lorna Jane top and jeans, Napoleon Perdis makeup

After a record-smashing run around the Tan, Home Truth’s Iolanthe felt hungrier than hungry. In a mildly violent, ‘i’m ready to eat my arm’ off kinda way. This called for a suitably carbohydrate-fuelled brekky, the kind I just knew that hipper-than-thou Birdman Eating on Gertrude Street, Collingwood could provide. I had some amazing home-made crumpets when I was in Hobart recently at Salamanca Market’s fave Tricycle cafe, and was excited to find a similar offering at Birdman this morning.

Gosh, isn’t fresh cold butter melting on home-made crumpets mouth watering?

The crumpets were crisp on the exterior and yeasty and chewy on the interior – served with generous pats of butter and leatherwood honey my hunger was satiated. Birdman Eating was pumping with a wide range of customers, older folks breakfasting with friends, parents with babies (kids are most welcome, with eggs with soliders and cocoa pops are on the menu), cooler-than-cool Molly Ringwald types with Boy George hats. The breakfast menu is extensive, with baked eggs done in a number of ways popular on the menu, as well as wintery treats like Welsh Rarebit and vanilla baked ricotta. Big thumbs up, I’ll be coming back as soon as possible (post Disneyland extravaganza).

 

Finished off with a long macchiato that was savagely acidic to start and nutty to finish. Kind of like Pauline Hanson, but much nicer!

Auction 1: 24/100 Queensberry Street, Carlton

Time: 11:00 am

Agents:Hocking Stuart, Ben Harrison 0430 457 234 or bharrison@hockingstuart.com.au

Inset: Facade of Cento, 100 Queensberry Street L-R: Young Ben, Scott McElroy, Ben Harrison.

Punters: The property was secure and very spacious – this fact coupled with the quality of size attracted a more mature clientele. No first home owners here! Older couples, and not a huge crowd – perhaps 25 or 30?

Auctioneer and Hocking Stuart Carlton Director Scott McElroy calling a fast and competitive auction.

Review:

24/100 Queensberry Street is a spacious three bedroom apartment, located on the third floor of a secure Piccolo construction built development. This is a building that is located near Lygon Street and close to North Melbourne – the area feels a little University-like and not particularly romantic. The interior of the apartment makes up for any lack of location, with three full bedrooms, the master suite with its own bathroom. The living room was very well naturally-lit, and there was the benefit of a large terrace balcony too. Hocking Stuart Auctioneer Scott McElroy made much of the building’s quality Rothe Lowman architectural design and Piccolo  build (they have recently undertaken The Garden House development, opposite the Royal Exhibition Buildings on Rathdowne Street) and the crowd responded generously, with an opening bid called almost immediately at 900k. Bidding was between two parties who went hammer and tong in a brief (although very productive) war of 25,000 raises. Before we knew it, Scott called the property on the market at $1,100,000 – it eventually sold under the hammer for $1,180,000. A swift and happy auction, and a very relieved buyer – this is a long term home in a perfectly sized inner-city development.

*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.