Singer Julia Stone’s unit sells for $925,000,
ARIA-award winning singer Julia Stone has sold her investment property in St Kilda East.
The unit went under the hammer for $925,000 on Saturday.
Interestingly, the buyer is another investor who plans to live in the property.
Stone is known as one half of the indie duo Angus & Julia Stone, alongside her brother.
In 2010, the duo won multiple ARIA awards for their acclaimed album, Down The Way.
Their third single, “Big Jet Plane,” received particular recognition and contributed to their success.
The two-bedroom, two-bathroom unit is located at 2/85 Westbury Street and has been beautifully renovated by the singer.
Since 2022, it had been rented out, making it an attractive investment.
The unit is situated in a charming small art deco building that boasts a modern style.
Marshall White agent Matthew Grima listed the property with a quoted price range of $880,000 to $940,000.
He mentioned that the auction began with a vendor bid of $890,000, setting the stage for competitive bidding.
Following this, there was a single bid of $900,000, which was a strong indication of interest.
Ultimately, the unit was passed in to the sole bidder, who then raised their offer by $25,000 to secure the home.
Grima chose not to disclose the reserve price, which remains confidential.
He commented on the features that buyers loved, such as the private courtyard and the renovations Julia had undertaken.
Additionally, he noted the period charm of the property, which adds to its appeal.
“Private courtyards of that size don’t come along often,” he added, emphasizing its uniqueness.
Overall, while it was a good result, he noted, “it’s not a showstopper either.”
The buyer intends to use the unit as a short-term investment.
However, they also plan to move in later, according to Grima.
This auction was part of a busy Saturday, featuring a total of 1,007 scheduled auctions.
In Frankston North, another property drew attention when it sold for $54,000 above its reserve price after an exciting auction.
The three-bedroom house located at 21 Honeysuckle Street boasted impressive renovations, attracting many potential buyers.
Notable features included double-glazed windows, ensuring energy efficiency and sound insulation for a comfortable living environment.
Additionally, the property offered central heating and refrigerated cooling, making it suitable for various weather conditions.
Moreover, the large garage came equipped with a pit in the floor.
This feature could be particularly useful for maintaining vehicles, adding to the home’s overall appeal.
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O’Brien agent Mark Bourke listed the property with a quoted price range of $585,000 to $638,000.
He noted that bidding began at $590,000, attracting significant interest with four buyers participating in about 40 bids.
“I believe we had around eight registered bidders,” he explained.
However, when they saw the bidding escalating, most of them disappeared.
The reserve price for the property was set at $620,000, creating anticipation among bidders.
Ultimately, the house sold to an owner-occupier for $674,000, exceeding expectations.
Bourke mentioned that one of the bidders was an investor.
“We’ve observed more investors entering Victoria from Sydney and Brisbane in the past two to three weeks,” he noted.
He added that despite the challenging land tax situation, investor interest has slightly increased.
In fact, investors now represent about 20 percent of buyers, compared to only 5 percent previously.
