A local family purchased the four-bedroom home for $650,000 above reserve, beating two others for the stylish Edwardian residence.
A young family purchased a four-bedroom Albert Park home, complete with a pool and wine cellar, for $6.25 million during a rapid-fire auction on Saturday., sold by former AFL chief financial officer Ian Anderson.Faced with a large but reluctant crowd on the first Saturday of spring, Jellis Craig Port Phillip auctioneer Warwick Gardiner was forced to place a vendor bid of $5.2 million.
Jellis Craig Port Phillip auctioneer Warwick Gardiner at the auction of 102 Kerferd Road, Albert Park, which sold for $6.25mThey paid some $4.5 million more than what Anderson paid nearly two decades ago. It was one of 949 auctions scheduled in Melbourne on Saturday. By evening, Domain Group recorded a preliminary auction clearance rate of 65.1 per cent from 668 reported results, while 76 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.
“Given that the final two bidders already owned in the building, I think they were able to see the opportunity at hand,” Wilson said. Biggin & Scott Stonnington auctioneer Michael Tynan kicked off the auction with a vendor bid of $1.05 million. One party offered a bid of $25,000 before another put forward a $10,000 bid.
All four parties traded bids until the property sold under the hammer to the couple, in their 30s, for $163,000 above reserve, and some $1,249,500 more than what the vendors paid in 1983.He added that the buyers had been looking for a while and were thrilled to secure the single-fronted home in a prime location.
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