26 Seddon St, Ivanhoe VIC 307926 Seddon St, Ivanhoe VIC 3079Price: $1.635m
I’ve know Daniel for years. He’s a highly successful Director of multiple companies with 3 primary school aged kids. His priority after working 70+ hour weeks was to set his family up in a perfect home.
He found this site in an ideal pocket of his favourite suburb. What could he ultimately build on it though, given zoning, trees, slope, and multiple street frontages?! What is the block worth?
I completed the required analysis on the property, with feedback from my arborist and town planner. I put together a few rough mud maps showing the types of setbacks, tree protection zones, and slope considerations they’d need to be aware of. And, I examined local area trends and sales, and spoke to a couple good local agents to determine fair market value.
The vendors were originally seeking circa $1.80m; it passed in at auction with a vendor bid of $1.730m; 6 weeks later and there had been no offers. I smelled a pending price adjustment, and the selling agent (who I know pretty well) confirmed that’s what he was about to recommend. Before anybody knew, we offered a firm $1.635m unconditional. Accepted.
Daniel and his wife have since built a remarkable family home. He says good things about our service: “We’d been looking for a block to build our forever family home. The help Andrew provided in determining the site’s market value, assessing the design constraints, and negotiating the purchase (at $100k less than we were willing to pay!) proved invaluable. Quality service.”
Prestigious suburb, quiet court, ideal family living
653m2 corner with vegetation and slope
Tired but rentable
$1.635m
up to $1.710m
Private Sale 6 weeks post-auction
3 months
$700 /week
2.2% gross
House $1.955m | Unit $0.722m
5.0% p.a. over last 10 years
Luxury class, corner, quiet court, city views
Below market value, flexible design options, hard to overcapitalise
Model new home potential
37 months from purchase to move in
confidential
confidential
confidential
confidential
confidential
Family Home N/A
$0.820m
$2.000m
$1.100m
$0.900m
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