First time offered in 35 years

Posted on 19 Sep 2013, 5:21 p.m. in Abercromby's, Just Listed, Selling

0672-jwpm-27_linlithgow.jpg

27 Linlithgow Road, TOORAK

First time to be offered in 35 years this classic Tudor style 1940’s duplex, in this highly sought after tree lined street, is to be sold as one. Both dwellings offer comfortable three bedroom accommodation with bright entertaining spaces and formal zones, ripe for renovation. Very close to excellent schooling and parks, waking distance to Toorak Village, Kooyong shops and train station. Land 750 sqm approximately. Future possibilities could suit redevelopment S.T.C.A

Inspection Times: Sat 21st Sep, 3:00pm-3:30pm

Property Agents:
Jock Langley 0419 530 008
Tim Derham 0438 332 844

Bought : 10 Yarradale Road Toorak

Posted on 19 Sep 2013, 5:12 p.m. in Abercromby's, News, Sold

24789-10yarradaleroadtoorak-1.jpg

A crowd of 80 or so are comfortably gathered in the backyard of this 1930s home.
Seated on the outdoor furniture and behind trees many look more prepared for a
drink with an umbrella sticking out of it then they do for an auction. A vendor
bid of $4,200,000 is casually lodged by auctioneer Tim Derham… read more

Still grabbing headlines

Posted on 19 Aug 2013, 10:44 a.m. in Abercromby's, News

pp-toorak-2_729-620x349.jpg

A 1930s property, designed by architect Marcus Martin, has gone on the market in Toorak with expectations of $4.8 million-plus.

The property, at 10 Yarradale Road, was featured in Australian Home Beautiful in 1937 – the year after its completion. For the past 15 years, it has been the home of Judy Ward, a former PricewaterhouseCoopers partner, and her late husband, Philip Molyneux, a former chairman of Equity Trustees.

The two-storey house has multiple living spaces including a dining room with attached marble-topped bar opening to a courtyard, separate study, and four bedrooms around a central first-floor retreat.

Amid the Edna Walling/Robert Boden-designed gardens is a solar-heated swimming pool with cabana and a treehouse.

Jock Langley, of Abercromby’s, has the listing. It goes to auction at 11.30am on September 14.

Source : The Age/Domain/Aug 16-17/Private Property.

Outstanding With Scope To Recreate Your Toorak Dream!

Posted on 23 May 2013, 2 p.m. in Abercromby's, Selling

macmaster.gif

3 McMaster Court, Toorak is currently available for private sale. The property will be open on Sat 25th May, 3:00pm-3:30pm.
We thought we should give you prior notice in case you know of anybody keen to move into the surrounding area. Should you have any queries about this property, or any other real estate matter please do not hesitate to contact:

Jock Langley 0419 530 008
Tim Derham 0438 332 844

4 Devorgilla Avenue, TOORAK

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

12516-4devorgillaavenuetoorak-2.jpg

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

23051-9-10lisbuoycourttoorak-1.jpg

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

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.

Global prime: the real costs

Posted on 18 Feb 2013, 4:54 p.m. in Abercromby's, News

1c0c3fe2-6821-4dc0-9b42-52e7de68a8ca.jpg

How much do outsiders really pay in world cities?

A 4,000 sq ft townhouse in Brooklyn   The notion that a high net worth individual can swagger into any city in the world and buy a property with few obstacles to overcome has taken a knock recently.
Singapore has hit foreigners with higher duty, while those buying top-end London homes will soon face a hefty annual charge. Similar measures are in place or under debate elsewhere as governments try to deflate market bubbles or ensure everyone – yes, even the wealthy – pays more tax to pay off budget deficits.
We have analysed eight world cities where HNWIs congregate. Using data from property consultancy Savills, based on the purchase of notional £2m pieds-à-terre, it is clear that buying processes vary widely but one common denominator exists: ownership is less straightforward and more costly now than in the recent past.   Then we deserted rigorous research and instead blended subjective views on climate, lifestyle and reputation to award star ratings to our contenders.

1. SHANGHAI
Foreigners may buy only one home for personal use, so long as they have an employment contract or past tax record. One further property may be bought for investment.
A buyer pays a deposit of up to £52,000 for a home above £1.02m; after 15 days, 30 per cent of the agreed price is paid and a sale and purchase agreement signed. The buyer may then seek a mortgage from a Chinese bank but agents say most international deals are in cash. The purchase must be agreed by the Shanghai Real Estate Transaction Center. Buyers pay up to £60,000 stamp duty but have no ongoing ownership taxes.   “The Chinese growth story has helped push up prime residential prices 10.8 per cent in 2012 and 42 per cent over five years. This is despite government policies to cool the market,” says Nicholas Holt of Knight Frank.

2. HONG KONG
Residential prices are sky high and so are transaction costs. Legal fees on a £2m apartment would be £3,255 and the purchaser’s share of estate agency fees £20,000. Another big cost is 15 per cent stamp duty on foreign purchases – £300,000 on a £2m property.
Different taxes apply if properties are bought and sold rapidly: this can push stamp duty to 20 per cent. An annual tax is levied, calculated as 8 per cent of notional rental value, whether or not the property is occupied; for a £2m home this is £2,500.   The Index of Economic Freedom league table based on 10 free enterprise criteria puts Hong Kong at the top but the housing market has been hard to tame.   “Low interest rates, limited supply and abundant liquidity create perfect conditions for a bubble. It’s hoped buyers’ stamp duty will curtail rapid rises. Sought-after areas include the Peak and Southside on Hong Kong Island, parts of Kowloon and the New Territories,” says Savills’ Simon Smith.

3. SINGAPORE
Outsiders buy without restriction only on Sentosa Island but require consent, considered case-by-case, anywhere on mainland Singapore. Since December foreigners permitted to buy must pay an extra 10 per cent duty in addition to the sliding-scale purchase levy.
This means buying a £2m property incurs £359,000 in duty plus £1,900 in legal fees. If it’s sold within a year there is an extra 16 per cent seller’s stamp duty. The annual occupancy charge – whether you occupy the place or not – is £5,140.
Singapore has avoided recession, despite weak manufacturing performance. “Prices are expected to remain firm despite cooling measures [thanks to] high liquidity and savings, a low-interest environment, strong balance sheet of developers and a very stable social and investment climate,” says Darren Wang of Cushman & Wakefield real estate consultancy.

4. MELBOURNE
Overseas buyers wanting an existing home must win hard-fought consent from the Foreign Investment Review Board. But they can buy brand new homes with relatively few restrictions, or buy vacant land or an established property to demolish and replace with a new one subject to planning consent.
Stamp duty on a £2m home would be £110,000 and another £7,000 covers administrative, legal and survey fees. There are no ongoing occupancy taxes.   “Toorak, Hawthorn and Camberwell [affluent suburbs] are popular with foreigners. We’re seeing commercial sites demolished to make way for residential towers sold offshore, principally to Malaysian, Singaporean and Chinese,” says Clinton Baxter of Savills.

propertychart4.jpg

Source and read more : Financial Times

Recent Posts


Categories


Tag Cloud


Article Archive

Show more...