Finance Property Warehouse conversion featured in Offspring sells well above reserve

Warehouse conversion featured in Offspring sells well above reserve

The Clifton Hill warehouse conversion sold for $305,000 more than reserve. Photo: Nelson Alexander Real Estate
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An inner-city warehouse conversion that featured in the television drama series Offspring sold at weekend auction in Melbourne’s Clifton Hill for $1.805 million. 

The 195 square metre space, styled by architect Grant Cheyne in the former 1890s Pitman Shoe Factory, sold $305,000 above its reserve price given three keen bidders.

The 6/37 Groom Street warehouse space included a 50 sq m outdoor terrace with district views.

The vendor – who paid $700,000 in 2004 – even threw in some furniture.

The Herald Sun reported the opening $1.505 million bid meant the property with exposed bricks, ceiling trusses and old original timber was on the market straight away. 

The apartment was the Offspring location where Geraldine, Dr Nina’s mother, hid out from her children and met her new beau.

Much-loved Offspring characters Nina and Geraldine Proudman.
Much-loved Offspring characters Nina and Geraldine Proudman. Photo: Channel 10
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The house made a cameo in four episodes in season six of Offspring. Photo: Nelson Alexander Real Estate
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The three-bedroom home was a popular buy. Photo: Nelson Alexander Real Estate

Falling auction volumes have contributed to the early April clearance rate remaining very strong.

This weekend, Adelaide joined Sydney and Melbourne’s hot housing markets as the three cities notched up auction success clearance rates of over 80 per cent. 

The last time Sydney, Melbourne and Adelaide all cleared 80 per cent was the Easter weekend in 2015, when lower volumes boosted clearance rates.

According to CoreLogic’s latest report, the national capital city preliminary clearance rate remains in the mid-high 70 per cent range for another week.

The preliminary results this week showed 78.1 per cent of the 2121 reported auctions were successful, up from 74.5 per cent last weekend and higher than the corresponding week last year when a 66.6 per cent clearance rate.

House price growth in March picked up to 19 per cent in Sydney and 16 per cent in Melbourne, CoreLogic said on Friday.

There were 2646 properties taken to auction, down from 3171 last week, when auction volumes reached their second-highest level so far this year.

Melbourne’s preliminary 80.6 per cent came from the 1007 reported auctions sold this week. 

A 1912 five-bedroom Canterbury offering topped weekend auction results selling for more than $500,000 over reserve at auction at $5.81 million, the top result across the nation.

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31 Mangarra Road, Canterbury features high ceilings, Baltic pine floors, timber detailing and leadlight windows. Photo: Marshall White
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The heated pool is a major selling point. Photo: Marshall White

The house on 1222 sq m sold to a Balwyn family with two children through Marshall White who were advising $4.7 million-plus. 

Three buyers battled it out for 31 Mangarra Road, which last sold for $860,000 in 1998, Domain advised.

Meanwhile, around $4 million was secured in Fitzroy in post-auction negotiations when Graeme Simsion, author of international bestseller The Rosie Project, and wife Anne Buist sold their home on Gore Street.

The couple transformed the derelict property into a five-bedroom, three-bathroom house with an internal tranquility pool, along with a striking spiral staircase leading to a ship’s prow library and a roof garden.

Agent Arch Staver passed the home in on a $4 million vendor bid and sold it post-auction for an undisclosed price.

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The Rosie Project author sold his Fitzroy pad for around $4 million. Photo: Nelson Alexander Real Estate
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The home is set over three light-filled levels, bordered by Japanese-inspired courtyards and an internal tranquillity pool. Photo: Nelson Alexander Real Estate

There were 1139 properties taken to auction across the city, decreasing from 1607 last week when the final clearance rate was recorded at 78.9 per cent.

One not selling was the Hampton childhood home of cricket legend Shane Warne, which was passed in on a single vendor bid of $1.5 million.

The spin king’s parents, Keith and Brigitte Warne, owned the now much-renovated home at 229 Thomas Street in the late 1960s.

The Herald Sun wrote the family owned the California bungalow until 1976 when it sold for $41,000.

In Sydney, the preliminary clearance rate of 80.7 per cent is up from 75.8 per cent last weekend, and also higher than the corresponding week last year, when a clearance rate of 69.8 per cent was recorded.

There were 1098 auctions held.

A house at McMahons Point was sold for $4.425 million making it Sydney’s most expensive auction sale over the weekend.

Located at 13 Victoria Street, the north-facing, freestanding terrace style property has an elevated setting with views of the city and harbour.

It was sold by Colin Morgan, insurer Zurich’s former Asia Pacific global life chief executive and his wife Louise.

The final sale price was $625,000 above the $3.8 million reserve after the bidding opened at $3.4 million.

McMahons Point
This McMahons Point property sold for close to $4.5 million. Photo: Stone McMahons

The preliminary clearance rate in Brisbane rose to 56.8 per cent from 173 auctions, up from 42 per cent last week from 196 auctions.

A two-bedroom house at Riverview, near Ipswich, sold for $222,250, the cheapest weekend result across the nation.

The 15 Station Road was a dual title 971 sq m property.

A house at Coorparoo sold for $1.565 million making it Brisbane’s most expensive sale.

Located at 79 Buena Vista Avenue, the 809 sq m property was offered for the first time in 40 years.

79 Buena Vista Avenue Coorparoo was Brisbane's top sale this weekend.
79 Buena Vista Avenue, Coorparoo was Brisbane’s top sale this weekend. Photo: ACRU Property

This week, Adelaide saw a preliminary clearance rate of 80.6 per cent, with 67 reported results across a total of 113 scheduled auctions.

A charming Leabrook bungalow sold for $1.6 million making it Adelaide’s most expensive weekend sale.

Located at 3 Godfrey Terrace, the three-bedroom sandstone family house sold at between 10 per cent and 15 per cent above reserve, according to Toop & Toop agent Tim Thredgold.

Perth’s clearance rate of 35.7 per cent across 43 auctions is up slightly from last week, while Canberra’s clearance rate was 76.3 per cent across 66 auctions.

A besser block built house set against a bushland backdrop at Deakin sold for $1.455 million making it Canberra’s most expensive.

Located at 22 Galway Place, the 1073 sq m property was designed by architect John Scollay and sold in its original condition.

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This Canberra home offered contemporary flair with a flat roof, and besser block construction. Photo: Luton

Jonathan Chancellor is editor-at-large at Property Observer.

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