Finance Property Stripey bathing box sets new record at Brighton beach

Stripey bathing box sets new record at Brighton beach

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The red and white striped bathing box set a new record. Photo: Nick Johnstone Real Estate
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Melbourne secured the nation’s strongest weekend auction success rate which included a record $337,000 auction price for a Brighton beach bathing box.

Bathing box 76B was a “surprise” purchase for his family by a grandfather of 10.

The red and white striped bathing box sold along with the neighbouring box, another recently built by the Bayside council, No.76C, which sold for $320,000.

“[This is for] my children and 10 grandchildren. We’ll spend weekends here,” he told The Herald Sun.

“There’s no better place than this.”

Both offerings, about 6x4m in size, had reserves of $290,000.

Auctioneer Nick Johnstone said both were required to pay GST on top of the purchase prices.

The previous highest reported price for Dendy Street beach was $326,000, achieved by box 85, which Mr Johnstone sold just before Christmas in 2016.

Box 60 sold for an undisclosed figure above $330,000 in 2017.

The council has built and auctioned one or two boxes a year since 2013 as part of a project to fill in gaps between the existing ones and raise money to better the beach.

Only Bayside residents and ratepayers can purchase the Brighton sand shacks.

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There are now more than 80 distinctive bathing boxes lined up on Brighton Beach. Photo: Nick Johnstone Real Estate
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At $337,000, the new owner could have bought himself a modest family home in an outer Melbourne suburb. Photo: Nick Johnstone Real Estate

Melbourne’s top notified sale was at Mount Eliza for $3.59 million.

The four-bedroom 1928 bungalow, set on 1250sqm, above the Moondah Beach bathing boxes, had been held for three generations.

Its stately lounge room came with intact period details that include decorative timber panelling and rarely encountered ceiling molds depicting native wildlife.

The home at 6 Kunyung Road was listed with $2.5 million to $2.75 million price guidance through Vicki Sayers at RT Edgar.

It did not come with a bathing box.

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The Mount Eliza beach mansion went for more than $800,000 over the guidance. Photo: RT Edgar
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Keeping with the theme, the Mount Eliza home overlooks bathing boxes. Sadly for the new owners, it doesn’t come with a box. Photo: RT Edgar
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The occupants will have stunning views from almost every room. Photo: RT Edgar
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Fancy a beach walk? It’s right outside the front door. Photo: RT Edgar

There were whispers of a $4.5 million post-auction sale at Brighton East, but the result was not formally advised.

Melbourne saw an increase in clearance rate and volumes with a total of 1326 Melbourne homes taken to auction, returning a preliminary clearance rate of 65.5 per cent, up on 63.6 per cent last week when a lower 914 auctions were held.

The sales included a record price at Cranbourne North.

Tulliallan, the Georgian-style mansion at 160 Wheelers Park Drive, fetched $2.35 million when sold to a Narre Warren South family.

There had been $1.8 million to $1.98 million price guidance for the six-bedroom, five-bathroom residence on 3200sqm of parklike grounds.

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This Cranbourne North mansion is so stately it has a name, ‘Tulliallan’. Photo: First National
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The agents described it as “imposing”. Photo: First National
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Apart from decadent luxury, the mansion is also a close drive to Xavier College, Monash University and Berwick train station. Photo: First National

Melbourne’s cheapest result was 11/3 Royal Av, Essendon North which fetched $215,000.

The price guide had been $200,000 to $220,000 for the recent $210 a week studio rental.

It last sold at $150,000 in 2006.

It was not the cheapest across the nation as there was a $185,000 sale in Adelaide.

The 1 Desmond Rd, Hackham offering has previously traded at $215,000 in 2009.

The double brick Hackham home was marketed as being in very average condition, so there was an opportunity to either renovate or knock the house over and build two properties.

Nationally the number of homes taken to auction across the combined capital cities rose this week, with a total of 2539 held, according to CoreLogic.

The higher volumes returned a preliminary clearance rate of 62.5 per cent. Last week, there were 1799 capital city auctions returning a 62.2 per cent final clearance rate.

More homes in Sydney went to auction this week at 805 compared to 551 last week.

Sydney’s cheapest sale was $366,000 at Lakemba.

The two-bedroom 2/61 Colin Street ground floor unit had traded at $299,000 in 2005.

As volumes rose across Sydney this week, the preliminary clearance rate dropped below 60 per cent for the first time since the first week of February.

The preliminary clearance rate showed 59.8 per cent, however this will likely revise lower as unreported results are finalised.

Some 74 offerings were withdrawn from Sydney auction.

They included a Canada Bay property associated with the family of the bankrupted property developer Salim Mehajer which was pulled from weekend auction.

The family’s Canada Bay investment property site has a rundown 1970s home at 555 Lyons Road West.

The auction sign had “withdrawn” slapped across the sign.

Canada Bay Council had rejected Mehajer’s plans.

Channel Seven reported the inner-west plot was bought in 2015 for $1.4 million but revised plans to build a multi-storey home with views over the Parramatta River failed to proceed after 22 neighbours in total objected to the development application.

“We’ve had an offer, but it wouldn’t be accepted,” Century 21s Fay Petrou told The Sunday Telegraph.

The property developer and former deputy mayor of defunct Auburn council rose to prominence in 2015 for his lavish wedding to now ex-wife Aysha.

Canberra’s top sale was secured pre-auction when $2.2 million was paid for 58 Sprent Street, Narrabundah.

Canberra returned a lower 64 per cent clearance rate.

Brisbane’s top sale was also a pre-auction result.

The renovated and extended 1900 Queenslander style home at 115 Elizabeth Street, Toowong sold at $1,715,000 through Adcock Prestige.

It had around 525 sqm living space.

CoreLogic calculated Brisbane’s clearance rate at 54 per cent.

Jonathan Chancellor is editor at large at Property Observer

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