Talana in Hawthorn East for $10mil+

Posted on 25 Mar 2013, 3:18 p.m. in Abercromby's, Buying

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Introducing Talana, a beautifully restored period home in the prestigious Hawthorn East. Talana offers a resort style family lifestyle with six bedrooms and three bathrooms, a tennis court with golf driving nets, enormous dual-heated lap/leisure pool, and an extra fully self-contained, Boston Ivy-clad summer house.

Talana with its Federation Queen Anne design, is impeccable inside and out with incomparable plasterwork, stained glass windows and elaborate fireplace mantles and a beautiful red-brick façade. Designed by renowned 19th century architect, John Beswicke, the spectacular house sits on over an acre of beautifully landscaped, yet rustic grounds, with a sweeping driveway and four car garage, it exudes a relaxed country lifestyle, while being in the heart of the city.

Source and read more: Millionplus

4 Devorgilla Avenue, TOORAK

Posted on 17 Mar 2013, 3:28 p.m. in Abercromby's, Sold

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SOLD
It is late Saturday morning, the sky is grey and a few raindrops fall as a crowd of 60 watch the auction of this well-presented two bedroom Neo-Georgian home. Abercromby’s auctioneer Tim Derham goes through the ritual of presenting the relevant contractual points and highlights the many attributes of this renovated property that had sold fairly recently in the low twos. “A magnificent renovation” he sums up and it will be interesting to see how prices have held up in the last two years. However, the auction starts slowly. With no bids forthcoming, a vendor bid of $2,200,000 is lobbed to entice a buyer to come forward, and $25,000 rises called for. This works as two bidders emerge to compete to see who will be the new owner. Swiftly the price reaches $2,300,000 and then there is another pause, so Mr Derham goes in to consult. On his return, he states “it’s close, but not on the market yet” and just as he is about to pass it in and calls it three times, he’s offered two further bids of $10,000 and then it stalls at $2,320,000. Mr Derham goes in to consult for a second time, and on his return pronounces it “on the market”, and as there are no further bids it is bought by the last bidder.

9-10 Lisbuoy Court, TOORAK

Posted on 17 Mar 2013, 3:24 p.m. in Abercromby's, Sold

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SOLD
On a quiet tree-lined Toorak cul-de-sac a crowd of 60 wandered up to this pair
of maisonettes, which is a likely development site. Auctioneer Tim Derham’s
raspy voice carried well but made no initial impact on the observers after his
vendor bid of $3,500,000, as he was immediately forced to go through the motions
of having a break to consult. The three most interested buyers were roused by
the circuit breaker into brisk bids of $50,000 steps, until a bidder asked if
the property was on the market. After a mini-conference with the owners in the
driveway, it was declared on the market at $3,750,000. Mr Derham advised
boldness from the bidders, but the property found its price without too much
drama. Bought under the hammer for $3,840,000, a healthy $5300/m2 for the
vendors.
Source : Marketnews

Historic eastern star flaunts significant assets overseas

Posted on 12 Mar 2013, 3:36 p.m. in Abercromby's, General Interest, News, Selling

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Pollster and serial mayoral candidate Gary Morgan is about to list his historic East Melbourne mansion in George Street, which will be aimed at international buyers.

The chairman of Roy Morgan Research has picked a new home in the area, spending $5,155,000 to get a 14-room Victorian villa on Powlett Street about a fortnight ago.

Morgan had to pay $780,000 above the reserve to take ”Claverings” at the hotly contested auction.
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The two-storey Victorian he is selling was designed by famed architect Charles Webb in 1864 and is considered to be one of the best houses in East Melbourne.

The property at 193 George Street has seven bedrooms, two reception rooms, a drawing room, two studies, three kitchens, 18th-century marble fireplaces, marble floors and cedar doors. There’s also a coach house with a self-contained apartment.

Jock Langley of Abercromby’s is believed to be targeting international buyers in a sales campaign that will run until late April. Nobody associated with the property wants to talk price, but industry sources say the starting point is likely to be about $10 million.

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‘I won’t sell if I don’t get the right price,” Mr Morgan tells Private Property. ”I think when people see it they will realise it’s one of Melbourne’s best homes.”

Source : Domain March 9, 2013

New Chinese laws drive investors to Australia

Posted on 11 Mar 2013, 3:42 p.m. in Abercromby's, News

Proposed restraints on real estate ownership in China could be great news for the Australian property market, according to the head of one major group.

Last week, the Chinese government announced a series of proposed restraints including stricter enforcement of capital gains tax on home sale profits and the imposition of higher deposits for the purchase of second homes.

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WAN Houses of the Year Awards

Posted on 6 Mar 2013, 3:53 p.m. in Abercromby's, News

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Every year World Architecture News (WAN) run a series of major international competitions to celebrate and expose the latest and most innovative design from all corners of the globe. The winner of the 2012 WAN House of the Year Award has just been announced, and with all the inspiring design we see today, there is no surprise that it was an incredibly difficult decision.

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The WAN House of the Year Award celebrates the most innovative and creative solutions for single-family houses, which are all judged on their originality, innovation, sustainability, context, and most importantly their ability to fulfill the client brief.

The winning entry for the 2012 award, came from Sforza Seilern Architects, for their Gota Residence in East Africa. The home is set among the wild and harsh African landscape, perched atop a dramatic granite cliff. Inevitably, the natural beauty of the area and breathtaking views dictated and inspired all elements of the winning design. Large cantilevered roofs protrude from the dramatic granite cliff, creating a spacious and gutsy design.  Almost all materials used throughout were sourced locally on site making for an incredibly harmonious design that was responsive to the immediate surroundings. This, combined with the originality and attention to detail, were the true winning elements of the design.
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MARKET UPDATE: MARCH 2013

Posted on 6 Mar 2013, 3:49 p.m. in Abercromby's, Market Updates

The 2013 residential market has jumped out of the blocks. Large numbers at our open for inspections and multiple bidding at our auctions. With confirmed low interest rates and the stock market increasing by 17% since November 2012, we have seen a lot of confidence from buyers and vendors meeting their expectations.
Several top end sales we have sold “off market” include:

• 21 Denbigh Road, Armadale.
• 17 Union Street, Armadale.
• 114 Vale Street, East Melbourne.
• 21 Vincent Street, Glen Iris.

We have some quality luxury and lifestyle homes on the market including:

186 Burke Road, Glen Iris.
23 Wangaratta Street, Richmond.
348 Bay Street, Port Melbourne.
20 Normanby Place, Richmond.
4 Devorgilla Avenue, Toorak.
9& 10 Lisbuoy Court, Toorak.
70 Sutherland Road, Armadale.
150 Finch Street, Glen Iris.
45 Lyndhurst Street, Richmond.
12 Davis Avenue, Kew.
• “Sunnyside” George Street, East Melbourne.

To learn more about the market or to discuss your property needs – whether it be buying,selling or renting – please feel free to contact us on 9864 5300.

Rental Market Update

Posted on 6 Mar 2013, 3:43 p.m. in Abercromby's, Market Updates, Renting

The 2013 rental market remains tight, with Abercromby’s seeing an increased demand for large family homes within Stonnington & Boroondara.

Our vacancy rate of 2.1% remains significantly lower than the average vacancy rate of 3.6% recorded for inner Melbourne during the month of January according to REIV data.

Whilst demand is strong, we are finding that tenants are becoming increasingly particular about the condition of rental properties. By maintaining your property in good condition and attending to any outstanding repairs, you are more likely to attract a quality tenant, who pays on time and treats the property like their own.

Should you or anyone you know have a home that fits the above parameters or would like more information on our property management services please contact Myles Crowhurst on 98645353 or 0433916155.

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