St Kilda West one-bedder with rooftop terrace tops 2017 high-water mark
A rooftop terrace helped raise the bar for St Kilda West’s unique Belleaire apartment complex yesterday.
Set between the beach and Albert Park Lake, the one-bedroom property at 15/3 Cowderoy St sold for $605,000.
In a positive for the market, the figure eclipsed the $596,000 high-water mark set by it’s twin, No. 17, near the peak of the city’s last property boom in September, 2017.
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But despite more than 100 inspections, the deal was done in post-auction negotiations after just three bids from two bidders stopped at $550,000, short of the reserve.
Hocking Stuart auctioneer David Wood said three other buyers were in the crowd, but the keys had gone to the buyers who really wanted it.
“It sets a record for the building as well,” Mr Wood said.
“And it does show that unique property in great areas is still getting really good buyer interest.”
Yasmin Lenzie-Smith and Ryan Morris, plus their 3-year-old pug Bosley, were thrilled with the result.
“We are popping the champagne,” Ms Lenzie-Smith said.
Despite the soft auction, and softer market conditions they were always confident they would sell yesterday.
“Being so close to the beach and Albert Park, we are in such a desirable area,” Mr Morris said.
But the pair will be sad to leave their home of 3.5 years.
“It’s going to be sad to say goodbye, we’ll miss our neighbours the most — they’re our friends now,” he said.
Property Mavens buyers advocate Freya Myles acted for the buyers and said they were happy to put an end to a six-week hunt for their first home.
“The rooftop plucked at their heart strings intensely, and so did having the proximity to St Kilda’s amenities,” Ms Myles said.
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Given the location and unique features, the apartment was an A-grade offering and a rising price over the past three years showed it could dodge future market woes, she added.