Kew house: Pakington St property sells big in just four days
A century-old Kew house with a modern twist has sold in just four days, for hundreds of thousands of dollars above expectations.
The price achieved in the speedy sale of 83 Pakington St is officially undisclosed.
But it’s understood to have soared well past the $3.2-$3.5 million advertised range, to sit closer to $4 million.
Oster and Co director Dave Oster said five families rushed in to tour the five-bedroom Queen Anne house during its brief stint on the market, with one putting in an offer the vendors couldn’t refuse.
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Mr Oster said the buyers were upsizers who already lived in Kew, and who had been drawn to the property’s closeness to prestigious schools including Trinity Grammar and Xavier College.
Its substantial 1196sq m block was also a winner, featuring a pool, basketball court, lush lawn, a covered alfresco deck and a triple carport.
And the house itself was “a perfect blend of modern and period styles”, due to a restoration and extension by award-winning architect Craig Rossetti that was completed about five years ago.
Mr Oster said the original rooms featured a rare combination of pressed-metal ceilings and walls that “would have been so expensive” at the time, along with Baltic pine floors.
The large open-plan meals and living area was stylishly contemporary, having expanses of glass, including multiple skylights, and a marble and stone kitchen with a butler’s pantry.
A parents’ retreat occupys the entire upper level, featuring a balcony, ensuite, walk-in wardrobe and study.
The latest CoreLogic figures show houses in Kew took an average of 34 days to sell in the year to April 30.
The suburb’s median sale price slipped 18.2 per cent in that period, to $1,887,500.
Mr Oster said the market had been “soft” up until the federal election was decided, with buyers acting cautiously due to the uncertainty it presented,
“The banks were also making it difficult (to lend),” he said.
“Now, there’s not a lot of quality stock on the market to choose from and buyers have got more confidence.”
Mr Oster said while auction was the preferred sale method of many agents in the area, he preferred to list properties for private negotiation.
“Doing things differently works,” he said.
“I didn’t wait four weeks to auction it — if you’ve got a lot of interest, why wouldn’t you sell it in a couple of days?”
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