Park Orchards dream villa: ‘You could literally be in Tuscany’
A Park Orchards vendor is hoping a new campaign — coupled with improving market conditions — will breathe fresh life into his hopes to sell a Tuscan villa-style home, first listed over a year ago.
Since going on the market on June 1 last year, the lifestyle home at 9-11 Arundel Rd has had a price guide of $3-$3.3 million revised down to $2.6-$2.8 million, pushed up to $2.95 million and is now listed at $2.9-$3.19 million.
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Fletchers Manningham director Nick Fletcher said he was hopeful the home could still capture attention on the market.
“Our pitch to the vendor was ‘there’s been some good results over the last few weeks’,” Mr Fletcher said.
“Across the board we’ve seen a bit more buyer engagement and a few more transactions and certainly some more activity at open-for-inspections, which is reflected ultimately in some sales and decent results.”
Lavishly styled in an image of Italian decadence, the glamorous five-bedroom home, dubbed “La Vignetta” or little vineyard, contains its own boutique vineyard, with Spanish marble floors and a hand-sculptured stone fireplace inside.
The vineyard is made up of chardonnay and shiraz grapes.
“You stand on that balcony and looking to the north, you could literally be in Tuscany,” Mr Fletcher said.
“It’s a unique offering, especially with the vineyard.”
He said the multiple price changes the property had since entering the market were a reflection of the market downturn.
“We expect there to be not as much activity second time around, but we’ve got a few people we’re expecting to come along (to the open-for-inspection),” Mr Fletcher said.
Vendor Tony Micelotta said in September 2018 he and wife Julia created the home in 2011 as a getaway for friends and family, but with his daughters getting older it was time to move on.
The median house sale price in Park Orchards is $1.48 million, with the median time spent on market at 33 days, according to CoreLogic figures.
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