Real Estate

lifestyle acreage gifts vendors 105k annual gain over 12 years

Written by The ReReport

A LIMESTONE craftsman-built house with resort facilities has delivered a windfall for its Somerville owners of 12 years.
The 2.02ha property at 170 Jones Rd fetched $2 million prior to auction — $1.26 million more than the original 2006 purchase price.
This works out to a gain of $105,000 a year between sales.

Related: Former Coles family weekender aims for record price

Prized 1930s Mt Eliza gem on the market

The home is built for outdoor entertaining.

170 Jones Road SomervilleThe outdoor areas feature a spa, pool and a pool house.

“This was a horse property on a small acreage and did not last long on the market, selling after three opens,” Chrissy Kouvaras of OBrien Somerville said.
Ms Kouvaras sold the property both times.
“It was a rare listing and the buyer had asked for a private inspection and fell in love with it,” she said.
An unconditional offer of $2 million, which was at the top of the $1.85-$2 million price guide, was enough to seal the deal, Ms Kouvaras added.

170 Jones Road SomervilleThe charming interiors with a stone fireplace and high ceilings.

170 Jones Road SomervilleThe stunning kitchen will delight the entertainer.

The property with six bedrooms and four bathrooms had been scheduled for an October 13 auction.
The huge price gain was not a surprise to Ms Kouvaras, who said Somerville had experienced strong growth in recent years due to the opening of the Peninsula Link.
“There are many buyers coming from the city and bayside suburbs here who are attracted to lifestyle properties,” she said
This 170 Jones Rd home is nestled in a quiet location and features soaring cathedral ceilings, grand open-plan living area with a feature stone fireplace and a well-equipped kitchen.

170 Jones Road SomervilleA serene dam sits on the property.

The outdoor offerings range from fenced paddocks and stables to a huge shed, chicken coop, dam, children’s play area, pool and spa, and decks.
The pool house has a living and meals areas, two bedrooms and a bathroom.
The sale was just the fourth sale of $2 million and above in the suburb, sales records show.
In April, nearby 104 Jones Rd fetched $2.35 million, and in May, 19 Webbs Lane is understood to have fetched around the $4 million mark to set a price record.

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