Albert park garage sold for $645,500

Discussion in 'What to buy' started by # 1, 18th Feb, 2020.

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  1. # 1

    # 1 Well-Known Member

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    Last edited by a moderator: 19th Feb, 2020
  2. TMNT

    TMNT Well-Known Member

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    new owners said they want to turn it into a home,

    didnt know you could actually build a house in albert park on a width of a garage....

    would council even allow it?
     
    Last edited by a moderator: 19th Feb, 2020
  3. Bunbury

    Bunbury Well-Known Member

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    It seems extravagant but remember that Albert Park is the most expensive suburb in Melbourne per square metre. The garage was about $14,000 per sqm.

    This place is 149 sqm and went for $20,268 per sqm.
    https://www.realestate.com.au/sold/property-house-vic-albert+park-132390186

    Remember, hipsters would love to own a quirky laneway garage so they could brag about it while they're getting their beards trimmed.
     
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  4. turk

    turk Well-Known Member

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    This was owned by an old mate and he is pretty happy with the result.
     
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  5. # 1

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  6. # 1

    # 1 Well-Known Member

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    Was he the plumber guy? Yes I bet he's happy with the result, also a good time to sell.
     
  7. # 1

    # 1 Well-Known Member

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    A house up the road at 62 Page St set a record at the time (Sept 2019) for $3m

    https://www.realestate.com.au/sold/property-house-vic-albert+park-131788794
     
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  8. Bunbury

    Bunbury Well-Known Member

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    Maybe the purchaser had some planning advice considering he is a developer and it is zoned nrz??

    This triple story + roof top terrace home is around the corner on 64 sqm and sold as vacant land for $1,300,000 in 2016 and then sold after completion for $2,650,000 in 2017.

    Property Report for 88A Richardson Street, Albert Park VIC 3206

    * The Land Registry lists 32 Little Graham at 50 sqm rather than 46 sqm.
     
    Last edited: 18th Feb, 2020
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  9. TMNT

    TMNT Well-Known Member

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    if I could build for $500k, and get a gorgeous house for $1.2m in albert park,

    id buy that in a heartbeat
     
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  10. Perthguy

    Perthguy Well-Known Member

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    Big IF though
     
  11. TMNT

    TMNT Well-Known Member

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    definitely! for $500k, it would have to be pretty basic,
    not sure if that is even possible with recent price rises
     
  12. Perthguy

    Perthguy Well-Known Member

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    There are also town planning considerations. Would your proposed dwelling be approved by council? Could be risky
     
  13. TMNT

    TMNT Well-Known Member

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    I am surprised that a dwelling the width of a garage would even be approved by council, especially multiple stories, but as the article says , it was purchased by a developer, so I assume they know what theyre doing

    I will be keeping an eye on it!
     
  14. turk

    turk Well-Known Member

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    Frontages to workers cottages in inner Melbourne were often a 1/4 Chain in width(16.5 foot or 5 metres)
     
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  15. TMNT

    TMNT Well-Known Member

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    back then yes,
    this looks about 5m in width too
     
  16. turk

    turk Well-Known Member

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    Yep and now trendy inner city pads are 5 metres in width:)
     
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  17. Perthguy

    Perthguy Well-Known Member

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  18. MTR

    MTR Material Girl Premium Member

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    Anyone remember this iconic home from Grand design show, Surry Hills, Sydney lane way, 44 sq mtre
    Due to location, size etc a challenging build

    Small House sells for big money
     
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  19. TMNT

    TMNT Well-Known Member

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    [​IMG]

    wait! so you got to step on the dining table to get upstairs/access the BDR

    surely not.....
     
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  20. # 1

    # 1 Well-Known Member

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    One of my favourite streets in inner Melbourne would be Richardson St in Middle Park. I think it was in the 90s when I went to an auction here for a single fronted Victorian house and the block was about 5m wide. A guy pulled up mid auction in a new black Porsche and started outbidding everyone. The house eventually sold to him for 250k which was a huge amount back then, today it would be worth closer to 3m.

    [​IMG]