‘Consumers are again’: 5-time mayor sells Cheltenham residence for properly above value hopes

A Cheltenham abode bought for $140,000 above the vendor’s value hopes at its Saturday morning public sale.

The four-bedroom home in Melbourne’s southeast at 22 Booker St had a reserve value of $1.425m and a $1.35m-$1.45m value information, however it was offloaded for $1.565m below the hammer.

Vendor Ron Brownless, who was five-time mayor for the Metropolis of Moorabbin and Metropolis of Kingston, he and his spouse have been celebrating the public sale consequence with pals, neighbours and locals with a glass of champagne within the yard.

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“We’ve decided, and we’re proud of the brand new patrons,” he stated.

“They’ve obtained a younger household, and I believe it’s nice. It’s a household residence.”

Mr Brownless stated he’d lived within the residence for 51 years and have become concerned with the group within the Eighties.

“This home has lots of these reminiscences … we had plenty of conferences right here at residence,” he stated.

“(We’ve) a stunning yard that we get pleasure from with natives and a few of them have come from citizenship ceremonies we did.”

He added that he had loved mowing the lawns within the yard because it was the place he used to meditate and make choices.

“We had a cricket pitch within the center for the children to play cricket that’s gone, and we’ve simply planted it right into a backyard,” he stated.

Buxton Mentone director Wesley Belt stated the public sale went “off its head” and the home bought to a younger household with two youngsters relocating from a Southbank condo, with the underbidder solely having seen the abode that day.

The public sale started with a vendor bid of $1.35m and was shortly adopted by a $1.4m bid from the group of onlookers.

Presents rose in $5000-$10,000 increments till the property bought.

Mr Belt stated he had bought two properties for properly above their reserve costs below the hammer already this 12 months.

“We’ve reached the height of the rates of interest … the client quantity we’ve had within the final 12 weeks has, no exaggeration, quadrupled,” he stated.

“The patrons are again.”

He added that there have been lots of first-home patrons out there on the lookout for household properties priced between $1m-$2m.

Sitting on a 782sq m block, the residence has three dwelling zones and double storage.

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sarah.petty@information.com.au