Miles off and racing
THE home of long-time Melbourne Cup race caller Greg Miles galloped $210,000 past its reserve yesterday.
The five-bedroom house at 51 Cole St, Williamstown, set a strong start to the summer property market.
Sweeney Estate Agents director Wayne Sweeney (pictured inset) started the auction with a call for a twohorse race — asking for a Winx or a Makybe Diva to lead the pack — and that’s what he got.
Two bidders quickly broke free of the pack, leaving one behind and two in the barriers with the bidding rising so fast they were out of the race before they’d even started.
In front of a crowd of close to 100 the home thundered past its $2.5 million reserve, the top of its pre-auction advertised range, and kept going until it reached $2.71 million.
Mr Sweeney said he’d had an inkling the auction could be set to bolt, with some recent strong results in the area.
“Quality location never changes, no matter the market — good or bad,” Mr Sweeney said.
“We had one recently that had a similar result and you just know which ones are going to rock and roll — and this one certainly rocked and rolled.”
And while Miles is used to making the call for the race that stops a nation, for the race that stopped his neighbourhood he was more than happy to leave it to a professional.
The result also showed while the market had been reined in over the past few months there was still some life in it.
“Th “The market k is i a bi bit fl flat at the moment, but we were hoping a home like this would cut through the doom and gloom,” Miles said.
After 20 years at the house, he and his partner are downsizing.
“This is a five-bedroom house and that’s too big for us,” he said.
The pair has bought an apartment off the plan with views to the bay on the south side of Williamstown and will move there soon.
The buyer was a local looking to upgrade and had appreciated the location and quality of the property, Mr Sweeney said. A QUAINT Surrey Hills shop fro front with an impressive home extension had no buyers willing to bid at its auction yesterday.
However, a $1.21 million sale was notched after two parties entered into post-auction negotiations for the fourbedroom offering.
An impressive figure compared to the $27,000 the vendors paid for the property at 224 Mont Albert Rd in 1977, according to CoreLogic data.
A crowd of 40 gathered in front of the property, one of only three 1910 shop fronts that remain on the leafy street.
The Agency auctioneer Peter Kakos called for the first bid of summer for the “work from home” pad.
“A little bit of TLC and you’ll get this property accompanying Melbourne’s finest,” Mr Kakos said.
A young couple who plan to update the home and one day use the shop won the keys.
Vendors Peter and Glenda Smith purchased the property to house their antiques store in the ’70s. The sale was a poignant moment for the Smith family who were selling due to Glenda’s early-onset Alzheimer’s.
“We are selling to pay for nursing home fees and start the next step for my dad,” daughter Rebecca Peachey said.
“We have lots of fond memories there; it’s been a well-loved home.”
Retired Melbourne Cup race caller Greg Miles has sold. Pictures: JAKE NOWAKOWSKI