Knockout blow fails in battle of the dads in Fitzroy North
A huge opening bid failed to land a knockout blow and led to a strong sale for a Fitzroy North townhouse.
After a whopping first bid of $1.48 million, which was above the reserve for 522 Napier St, the contest was reduced to mostly $2000 rises.
“The first bid put the property on the market immediately as the reserve was $1.45 million,” Nelson Alexander Fitzroy agent Marek Olech said.
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Bidding for the four-bedroom townhouse eventually reached $1.628 million to give the Sydney owner-investors almost $180,000 beyond their reserve.
The auction was also a battle between two fathers acting on behalf of their children. A third bidder bowed out early in the contest for the multi-level home in excellent condition and in a park-side position.
“One father was bidding on behalf of his daughter as her husband was at work,” Mr Olech said.
“He bid confidently and they were determined to buy the property and they did.”
The couple will relocate to their first home from nearby Parkville.
The underbidder was present on behalf of his son who had left for Ireland prior to the August 17 auction.
The new owners had earlier looked to buy in Richmond but decided to inspect the townhouse when it listed, Mr Olech said.
“There are not too many such quality townhouses on the market,” he said.
The home has a rooftop terrace with spectacular, uninterrupted views of the city skyline and also has a well-appointed kitchen and living and dining zones with balconies.
Meanwhile, a compact Edwardian home from the 1910s sold for $1.922 million with three bidders in Northcote.
The renovated and extended 21 Stafford St home on just 363sq m sold well above the $1.85 million reserve. The vendors paid $309,000 for it in 2000.
“The street is tree-lined and sought after and no renovated homes have sold there in the past five years,” Jellis Craig Northcote agent Lee Muddle said.
“The new owners are a local family with two children who wanted to move into a house that did not need renovating.”
The buyers who missed out on the property were families from nearby Fairfield and Carlton North.
The location is sought after, being in the Northcote High School zone and near Fairfield Village.
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