The sound of the contract hitting the auctioneer’s hand was music to the ears of the buyers of a Richmond warehouse apartment, who are celebrating their purchase at Golden Plains music festival.
Shortly after they outlasted one other bidder to secure 107/28 Tanner St, interior designer Jen and her architect partner Nic, who didn’t provide their surnames, said they were off to the Meredith Supernatural Amphitheatre for the sold-out event.
They paid $911,000 for the two-bedroom, first-floor pad in a coveted converted warehouse complex. The figure was $71,000 above reserve.
Nic said they’d fallen for “the location, character, high ceilings and warehouse vibe” of the property. The St Kilda-based couple planned to renovate it.
In front of a 50-strong crowd, they kicked off the bidding at $830,000 and held off another party with a $5000 knockout bid at the end.
CoreLogic records show the property had previously sold in mid-2013 for $748,500.
Biggin & Scott Richmond agent Talia Besser said the sellers had listed it after buying another home further out from the CBD.
She and Biggin & Scott director Andrew Crotty had recommended they auction on the Labour Day long weekend to stand out from the crowd, Ms Besser said: “We’re the only auction in Richmond today.”
Just 199 homes were scheduled to go under the hammer citywide this week, according to CoreLogic, down from 1039 the week prior.
Advantage Property Consulting director Frank Valentic said he would generally suggest avoiding auctioning on a long weekend, but conceded “if you’re interested (in a property), you’re still going to turn up”.
Mr Crotty said 28 Tanner St was “the best warehouse complex in Richmond”, with all 40 apartments “fitted out individually … by owners” when the building was converted in the early 2000s, and tightly held since.
“You’re not buying anything cookie cutter,” he said.
Apartment 107 offered 105sq m of internal space plus an 18sq m courtyard, a study and striking factory windows.
The Richmond and Abbotsford market was picking up, Mr Crotty said, with his agency also achieving sales at five from six auctions last weekend.