Sale of the cen­tury

Sunday Herald Sun - - Real Estate -

FOR the first time in al­most a cen­tury, this Glen Iris home was suc­cess­fully sold un­der the ham­mer.

The prop­erty, known as Koon­warra, de­fied the soft­ened mar­ket and sold for $150,000 above re­serve.

The four-bed­room house was built in 1921 and af­ter an un­suc­cess­ful auc­tion cam­paign in 1932, it was kept within the fam­ily and passed down through the gen­er­a­tions.

Yes­ter­day’s sale was the first time in 97 years that con­tracts for the prop­erty were ex­changed.

Ven­dors Ann and Geoff King, who had lived in the home for 50 and 82 years re­spec­tively, said they were ex­cited and ap­pre­hen­sive in the lead-up to the auc­tion.

“(The house) was ev­ery­thing we ever wanted,” Mr r King said. “It’s well lo­cated, spa­cious and has a very big garage for me to build boats and all sorts of things.

“It’s a nice, av­er­age lo­cal­ity, not like Toorak or any­thing.”

The cou­ple are down­siz­ing to a prop­erty nearby.

The auc­tion was slow to start, with Jel­lis Craig auc­tion­eer Iain Carmichael be­gin­ning pro­ceed­ings with a $3.6 mil­lion bid. The first gen­uine bid was placed at $3.62 mil­lion by the even­tual buyer.

Af­ter a short break, an­other bid­der joined the ac­tion and the $3.7 mil­lion re­serve was reached. The ham­mer fell at $3.85 mil­lion to a young fam­ily from Rich­mond that plans to ren­o­vate and make it a longterm home.

They trumped a fam­ily from AFL su­per­star Lance “Buddy” Franklin has kicked an off­sea­son goal, sell­ing his Don­vale home un­der the ham­mer for $1.415 mil­lion.

The Hawk-turned-Swan lived at the four-bed­room prop­erty at 14 Wood­hall Wynd for a short time be­fore mov­ing to Syd­ney in 2013.

His fa­ther, Lance Sr, moved in af­ter his son’s de­par­ture.

It was a slow start to the auc­tion, with three con­sec­u­tive ven­dor bids be­fore two par­ties booted up the price in $1000 and $5000 in­cre­ments.

Af­ter a half­time break, the prop­erty was called on the mar­ket at $1.4 mil­lion and sold five bids later.

The buyer was a Chi­nese the Glen Iris area with sim­i­lar hopes.

Mr Carmichael said Dor­ring­ton Ave homes were hotly con­tested thanks to the street’s sin­gle dwelling covenant.

“It means there haven’t been units built, which is an at­trac­tion be­cause there’s no de­vel­op­ment around,” he said.

“These homes are re­ally few and far be­tween so they haven’t been hit with the gen­eral soft­en­ing of the mar­ket.”

Mr Carmichael said it was rare to see a home held by one fam­ily for so many decades.

“Gen­er­ally 30 or 40 years is long,” he said. woman who did not want to be named. She said she had no idea about the prop­erty’s foot­ball his­tory.

“This is my first pur­chase in Aus­tralia, I only moved here two weeks ago,” she said. “When I stepped into the house, it im­me­di­ately felt like home.”

Dur­ing the cam­paign, Franklin and his wife, Miss Uni­verse Aus­tralia win­ner Jesinta, bought a house in Perth. The lat­est $340,000 in­vest­ment in Yanchep will be Lance Sr’s next home. IT was a fam­ily af­fair in Hawthorn as two sis­ters bid on be­half of their brother at a pop­u­lar auc­tion.

The el­e­gant Vic­to­rian drew a crowd of more than 100 as two de­ter­mined par­ties vied for the keys.

De­spite 14 back-and-forth bids, the four-bed­room home did not hit the ven­dors’ re­serve, pass­ing in for $2.145 mil­lion.

But it took just half an hour for Lisa and Kate, who did not pro­vide their sur­names, to win the keys for $2.185 mil­lion.

The sis­ters from Kew said they bought the home for their brother, who lives over­seas.

“It’s a pe­riod-era home by the park — they don’t make them like this any more,” Lisa said.

Their brother plans to use

Jel­lis Craig, Ring­wood, di­rec­tor Wil­liam Lyall said Franklin’s fa­ther had me­men­tos of his son’s foot­balling tri­umphs at the Don­vale house.

“The rum­pus room up­stairs was wall-to-wall, floor-to- the house as an in­vest­ment prop­erty.

He trusted his sis­ters’ judg­ment and did not in­spect the prop­erty be­fore pur­chase.

Jel­lis Craig Hawthorn’s Ge­ordie Dixon said the house had been pop­u­lar with down­siz­ers, fam­i­lies and pro­fes­sional cou­ples.

“Hawthorn West is a highly sought-af­ter pocket and it’s still ceil­ing mem­o­ra­bilia,” Mr Lyall said.

“Rang­ing from Buddy’s un­der-18 and state rep days in WA, through to All-Aus­tralian things and pre­mier­ships with the Hawthorn footy club and a get­ting a strong re­sponse in the mar­ket,” Ms Dixon said.

But it was not all smooth sail­ing in the sub­urb, with an­other Vic­to­rian at 100 Power St pass­ing in af­ter no bids.

The fam­ily home is owned by ad di­rec­tor Mark Mol­loy. It is now up for pri­vate sale with a sug­gested price of $2.2 mil­lion. lit­tle bit of Swans stuff in there as well.”

While more than 60 peo­ple came to stick­y­beak yes­ter­day, the footy sou­venirs were al­ready re­lo­cated.

Mr Lyall said the Franklins, who live in Syd­ney’s Rose Bay, had sold be­cause it was un­likely they’d move to Mel­bourne “any time soon”.

CoreLogic shows Franklin bought the house for $863,500 in 2008, the same year as his first flag with Hawthorn.

Ann and Geoff King sold their Glen Iris fam­ily heir­loom. Pic­ture: AN­DREW HEN­SHAW

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