Real Estate

Retro Hawthorn pad scores top dollar in marathon auction

Written by The ReReport
As seen in the Source link, written by on 2018-12-16 06:58:05

A freestanding unit at 2/72 Wattle Rd, Hawthorn, sold under the hammer.

A marathon auction for a retro Hawthorn pad has produced an early Christmas present beyond the seller’s expectations.

The 1970s family-sized unit at 2/72 Wattle Rd pushed $63,500 past reserve to sell under the hammer for $1,683,500.

Four families vied for the keys at a lengthy auction where 53 bids were raised across nearly 40 minutes.

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The retro unit sold for $1,683,500.

It was owned by one family for nearly 40 years.

A young couple with a newborn eventually won the bidding war.

The Agency director Mark Sproule said he was astounded by the interest in the “Hollywood-style” home, which had not been on the market for 38 years.

“It’s a very surreal place, with tonnes of natural light, soaring ceilings and a very leafy environment,” he said.

“When you’re at the property you have no idea you’re in urban sprawl.”

Parts of the home are like a “time capsule” from the 70s, Ms Clayton said.

There are four-bedrooms in the family home.

Vendors Jim and Vicky Clayton sold the family heirloom on behalf of their parents Ken and Helen, who died last year.

The siblings said they were very happy with the result.

“We’re glad to get it sold before the market takes a break over Christmas,” Mr Clayton said.

A young family won the keys against three other bidders.

The home was like a “time capsule” from the 1970s, with a timber kitchen and high vaulted ceilings, Ms Clayton added.

“My dad was a teacher, and we moved here in the 90s after living in school accommodation,” she said.

“It felt completely different here, and my parents loved having an entertainment area in the backyard.”

It sold $63,500 above reserve.

The family made a seven-figure windfall from the sale, with CoreLogic data showing they purchased the home for $128,000 in 1980.

Mr Sproule said Melbourne’s downturn had not affected all homes in Hawthorn as much as other areas thanks to its popular schools and quality public transport.

The Wattle Rd unit, which was directly across the road from Glenferrie Primary School, also had low-maintenance appeal for young families, he added.


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