MORNINGTON LAND WITH VIEWS TIPS $1600sqm – FLINDERS NO WATER VIEWS – NO WORRIES – STOKES STREET EXCEEDS $3.5M

Home / whats on / MORNINGTON LAND WITH VIEWS TIPS $1600sqm – FLINDERS NO WATER VIEWS – NO WORRIES – STOKES STREET EXCEEDS $3.5M

MORNINGTON LAND WITH VIEWS TIPS $1600sqm – FLINDERS NO WATER VIEWS – NO WORRIES – STOKES STREET EXCEEDS $3.5M

A larger sample size of peninsula property was auctioned over the weekend with some excellent results recorded across the district.  3 from 4 Frankston properties sold, Mount Martha’s and Rye’s offerings sold out; 10 Beleura Hill Road Mornington tipped over $2,000,000 and 18 Stokes Street Flinders sold just shy of $3,600,000.

 Dean Phillips of McEwing Partners hosted the auction of 10 Beleura Hill Road Mornington on Saturday afternoon.  I always enjoy an auction conducted by Dean; he’s a natural born performer delighting in the auctioneer’s stage. McEwing Partners Chelsea Gibson; the lead agent and currently on maternity leave with a new baby due any day, turned up to see this baby change hands. Dean did mention that he wanted somebody in attendance to drop a bundle; not Chelsea.  A few shook their heads, I laughed out loud and the young kid standing next to me asked his Dad “I don’t get it; what does he mean?”

Essentially a 1213sqm (approx.) landbank opportunity.  The existing home needs a makeover or pushover with most suggesting the latter.  This piece of dirt is all about position and with dual access and dual addresses; both Beleura Hill Road and Craigrossie Road, a perfect elevation creating 180-degree views of the bay and Mornington harbour it’s a pot of gold at the end of the rainbow.  Interestingly the seller’s great grandparents were the original owners, changing hands a few times before coming full circle.

Starting with a vendor bid of $1.5Million 4 bidders were on the hook.  The bidding moved in $5,000 increments to $25,000 and back to $5,000. At $1,850,000; the property was on the market, 2 bidders dropped off; the remaining 2 genuine parties offered a further 21 bids before the sale contract hit Deans hand. SOLD $2,010,000.  This result sets a benchmark for land value in this blue-chip location.  Over $1600sqm its tipping into Sorrento and Portsea land prices.

18 Stokes Street Flinders was always going to sell; a large crowd of 60 folks braved the weather and it was just a case of how much and where the competition was coming from.  Andrew Hines of Kay & Burton Flinders was at his artful best, offering a vendor bid at the lower end of expectation and receiving a genuine bid of $3,025,000.  About to pass the property in; a second bidder entered the race and it was game on. Andrew took a further 29 bids in varying increments of $25,000 – $20,000 and $10,000 lots before announcing the home on the market at $3,500,000.  A tense few minutes, one seeking phone instructions and 16 bids later the hammer came down at $3,590,000. A professional display of auctioneering that got the right result for this stunning home.

Next weekend is shaping as the one for first home buyers, downsizers and investors. 24 scheduled auctions, Frankston hosting 5 and a few very interesting prospects in Blairgowrie, Safety Beach, Somers and Sorrento.

Our weekend auction listing is updated every Wednesday.  Feel free to drop back and have a look at what’s on offer. 

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