Ascot Vale

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Sydney and Melbourne’s auction results maintained their holding pattern at the weekend.
Sydney recorded a preliminary clearance rate of 65.9 per cent on Saturday, after 470 auctions and 310 reported results. There were 69 properties withdrawn from auction.
Melbourne's preliminary clearance rate was 62.2 per cent after 373 auctions and 235 reported results. There were 40 homes withdrawn from auction – including properties that had been listed in the renewed coronavirus hot spots.
<img src="https://www.urban.com.au/images/2020/7/6/CL%20JULY%207.JPG" alt="">
But the historic Ascot Vale home, Bolinda sold posted auction for $3.1 million.
It was Melbourne's top weekend result, pushing a $2,275,000 Brighton East sale into second place.
Bolinda had been listed initially with expectations between $3.7 million and $3.95 million in April.
But this expectation was reduced in May to $3.3 million to $3.5 million.
The historic Ascot Vale manor has had just three owners since it was built 136 years ago.
The four-bedroom home at <a href="https://www.realestate.com.au/property-house-vic-ascot+vale-133328186" target="_blank">43 Kent Street</a> last traded 57 years ago.
The Italian Renaissance style house is in need of some renovation.
It was owned for nearly six decades after being built for the McClelland family in 1884.
The family set up an artists’ group and later built the McClelland Sculpture Park and Gallery in Langwarrin.
Sydney's top sale was $4.63 million in Mosman. Six of the 14 registered parties bid for the four-bedroom house at 12 Windward Avenue that was for sale for the first time in six decades. 
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CoreLogic reported volumes were down week on week across the combined capital cities, with a total of 1,185 homes scheduled for auction. 
The lower activity which we have historically noted over school holiday periods, returned a preliminary clearance rate of 65 percent. 
This was higher than last week preliminary figure of 64.5% across a higher 1,485 auctions, which later revised down to 60.6% at final collection. 
Looking at results from the first week of July last year, a lower 953 homes were taken to auction with a success rate of 64% according to final figures.
Across Australia’s two largest auction markets, the lower activity across both cities saw the clearance rate improve.
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Across the smaller cities, Canberra continues to outperform in terms of success rate across the capital city markets with an 81.6% preliminary clearance rate this week. 
However this was down slightly on the final clearance rate last week with 84.4% of homes successful at auction across Canberra. 
Perth, where only a small proportion of properties are auctioned, continues to return one of the lowest clearance rates across the capital cities with only 22% of auctions clearing this week.
Ray White Group booked a preliminary clearance rate of 61 per cent on a week when the leading auction house had a reported auction market share of 31 per cent.
The average registered bidder number sat at four.
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j.ballantyne1990-6AQqhLzZaK

$3.1 million weekend sale in lockdown suburb Ascot Vale

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Bolinda at Ascot Vale, which has a long history in the arts, had been listed with expectations between $3.7 million and $3.95 million.
It is now seeking just $3.3 million - $3.5 million as their original price hopes were reduced.
The historic Ascot Vale manor has had just three owners since it was built 136 years ago.
The four-bedroom home at <a href="https://www.realestate.com.au/property-house-vic-ascot+vale-133328186" target="_blank">43 Kent Street</a> last traded 57 years ago.
The Italian Renaissance style house is in need of some renovation.
It was owned for nearly six decades after being built for the McClelland family in 1884.
The family set up an artists’ group and later built the McClelland Sculpture Park and Gallery in Langwarrin.
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Bolinda, Ascot Vale listing reduced from $3.95 million hopes

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A ground floor retail investment in Ascot Vale, Victoria has been sold for $935,000 to a local investor. 
The 131 square metre property at 202 Union Road, Ascot Vale has been leased to Flemington Financial Services Ltd T/A Bendigo Bank.
It returns $45,395 per annum plus GST on a four plus four year lease term, equating to a yield of 4.86% and building rate of $7,137 per square metre.
The property features an open plan reception/office layout, two partitioned offices, ducted heating and cooling, staff amenities and kitchenette.
It was sold by Craig McKellar of CVA.
It has 6 metre frontage to Union Road and rear access via The Parade.
Union Road is located under 5 kilometres from Melbourne CBD and is supported by an array of retail shops, cafes, restaurants and offices and is serviced by tram.
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Ascot Vale ground floor retail investment sold for $935,000 

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A local builder has spent $2.7 million in a post-auction deal on a rundown 1890s Ascot Vale stable complex.
Goodwood, at<a href="https://www.realestate.com.au/sold/property-house-vic-ascot+vale-127856114" target="_blank"> 42 Myross Avenue</a>, was once home to late harness-racing trainer and driver William “Bill” Davin for 60 years.
The property was quoted at $2.5 million to $3 million price guidance.
It sold to John Paul Kavanagh, and his wife Erin, who were reportedly the only ones to raise their hands at the auction of the 1336 square metre block on Whiskey Hill.
It comprised an original heritage-listed home and nine stables.
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The delipidated home overlooks large lawns and nine stables.
A string of harness-racing champions were housed in the stables, including eight Hunter Cup winners and three-time winner of “the Melbourne Cup of harness-racing”, the Inter Dominion, Our Sir Vancelot.
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Nelson Alexander Ascot Vale’s Michael Keogh secured the sale.<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/18/ascot%20vale%204.jpg" alt="">
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Bill Davin's rundown 1890s Ascot Vale stable complex sold

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A local developer has snapped up a development site for $3.33 million in Melbourne's Ascot Vale in a private sale through Savills Australia. 
The <a href="https://www.realestate.com.au/property-residential+land-vic-ascot+vale-201784898" target="_blank">147-149 The Parade</a> property sold at a robust land area rate of $2,060 a sqm. 
The 1617 sqm property, zoned General Residential 1, is close to shops and public transport.
Improvements include a single level, residential duplex.
The sale was negotiated by Savills’ Julian Heatherich, Jesse Radisich and Benson Zhou.
Heatherich said the location had easy access to Melbourne CBD and with its three street frontages was very attractive to developers.
"This is an ideal site for both townhouse or apartment development and that was acknowledged by the very high level of enquiry from developers looking to capitalize on the demand from both investors and owner-occupiers," Heatherich said.
The vendor was a local investor.
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Developer snaps up Ascot Vale site in Melbourne for $3.33 million through Savills

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A fully restored 19th century, six bedroom property in the Melbourne suburb of Ascot Vale listed for auction with a price guide between $2.1 million-$2.3 million, now has a $2.55 million asking price.
The 1012 sqm late Victorian-era residence at <a href="https://www.domain.com.au/75-maribyrnong-road-ascot-vale-vic-3032-2013523824" target="_blank">75 Maribyrnong Road</a> was originally built in 1887.
It was last traded back in 2010 for $2.1 million.
Ascot Vale is an inner-city suburb located 5 km north-west of Melbourne’s CBD. The home sits upon Rothwell Hill, within walking distance to the station and trams, as well as the Puckle St precinct and Union Road cafes.
The area’s median house price rose above $1 million in May this year. 
Architecturally designed, this property combines Italianate heritage and contemporary restoration. It offers three bathrooms, formal lounge, library, wine cellar and a basement garage with a gym.
Family living areas include a renovated kitchen with all-European appliances, stone surfaces and timber cabinetry. Bi-fold doors open up to an alfresco deck, highlighting the landscaped gardens.
Upstairs contains three bedrooms and a luxury bathroom that is enveloped by a balcony with views to the northwest.
A five bedroom residence at <a href="https://www.realestate.com.au/sold/property-house-vic-ascot+vale-125174282" target="_blank">8 Anderson Street</a> sold for $2.1 in May 2017.
The home is listed by Jellis Craig selling agent Simon Mason.
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Victorian era residence listed in Ascot Vale

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A heritage-listed city fringe building in Melbourne's Ascot Vale built in 1880 has been sold for $1.8 million.
The commercial property, 403-405 Mt Alexander Rd, Ascot Vale, on the corner of Mt Alexander Road and Bank Street was built for the English Scottish and Australian Chartered Bank and designed by architects Terry and Oakden.
It is one of only ten Gothic style banks in Victoria.
The building has nine main rooms and a period-style bathroom with claw bath, hydronic heating in each room and a paved backyard which can accommodate parking for up to 4 vehicles.
Anthony Carbone of CVA said the sale represents a substantial building rate of $6,315.79 per square metre.
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jonathanchancellor-7SQnKwU6yx

Heritage-listed Gothic corner building sold

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Pockets of two Melbourne suburbs, Thornbury and Ascot Vale have been pinpointed by Wakelin Property Advisory as having long-term investment potential. 
An “undervalued precinct” is typically a section of a suburb where there were certain attributes that meant there was more potential for growth, Jarrod McCabe, of Wakelin Property Advisory, said. 
The pockets should have all the characteristics underpinning demand and growth, not just one attraction such as relative affordability compared with the neighbouring suburb, he said.
A case in point is Ascot Vale, which has good access to the city by trains, trams and roads.
“Union Road has a really good village atmosphere; it’s really gentrified noticeably over the last five to 10 years, and has got a real variety of shops, cafes and restaurants,” Mr McCabe said.
“Proximity to Union Road and the train station are very important, so the Rothwell Hill section … is highly desirable; particularly towards the northern-end to Maribyrnong Road.”
There were also some very good pockets just west of Union Road, but buyers wouldn’t want to go too far west because it was further away from public transport and cafes, he added. 
Parts of Thornbury where the house median is still in the mid-$900,000s, compared with Northcote’s $1.05 million median could be worth a look by investors, especially areas close to the High Street village and train line near St Georges Road. There were opportunities towards Merri Creek, but be cautious of industrial areas, he suggested.
In comparison to undervalued precincts, Mr McCabe compared ”hot spots” to the property investment equivalent of “the latest fad diet” seen on the cover of women’s magazines. 
He said a hot spot was typically an entire suburb experiencing short-term price growth, and had only a few characteristics for consistent strong performance. 
“What will happen is you’ll get growth in the short term, while whatever new infrastructure or industry is being put into the area,” he said. “But once that becomes the norm, most likely the capital growth will revert back to its previous performance rather than continuing to be a high performer," Mr McCabe said.
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