Buyer’s advocate Greville Pabst snapped up four of the five Gatwick apartments on The Block in 2018 for his clients.
And after showing more than 250 groups the The Oslo, there’s nobody more qualified than the Greville Pabst Property Advisory director to dish out the inside scoop before auctions this weekend.
Here are the expert’s predictions on who will win The Block:
MITCH AND MARK
“The feedback is most positive for Mitch and Mark’s party house and the main reason for that is it arguably has the best position in the group of terraces because it is the most north-facing. Investors have really liked that they’ve sacrificed an upstairs bedroom for an entertainment room. They can see people visiting from interstate enjoying that area and the dining table on the terrace that Mitch and Mark have created. It’s the house with the most personality, some wow factors and it would rent for more money than the others.”
JESSE AND MEL
“From a residential angle, Jesse and Mel’s is the most desirable. It’s quite conservative in its approach and a lot of the risk has been taken out of the style. Jesse understands real estate and is trying to appeal to a wider market. It’s quite a sophisticated house with dark cabinetry in the kitchen, a feature wine cellar in the hallway and the tiled wall in the courtyard. It appeals to a wider demographic from investors, families and maybe downsizers as well.”
DEB AND ANDY
“This one seems to have attracted a lot of attention. It has the best kitchen with that fantastic atrium, which is quite clever because as the middle house it could have been the darkest. They’ve really understood what buyers are looking for, like having that large study space. It has whitewashed walls and timber features that make the house inviting to buyers. But I’ve also had some say it feels more like a Sorrento beach house and some buyers expect more from a luxury premium home. The terrace actually extends further north than the others, giving them a really good view of the CBD. I think this one would work really well as a rental too.”
TESS AND LUKE
“A lot of people like this one and it’s the only townhouse that has a formal dining room at the front. The square kitchen bench has been something that some buyers love, while others say it’s a lot of cleaning. It has a dark, luxe feel and it’s the only one with a spiral staircase in the courtyard to the retreat. This could be a quiet achiever and it could even win The Block, depending on the reserve set.”
MATT AND EL’ISE
“This is probably the one that people are considering the entry-level home. It’s got a bit of a country feel. From a property point of view it runs fifth in the rental return race. However, last season at The Gatwick the one I thought was least attractive ended up winning, so it all depends on the day.”
WILL THEY ALL SELL?
“The market is strong at the moment, with a clearance rate above 75 per cent on a regular basis. We are getting three or four bidders at auctions and there’s been positive growth. We’ll need those conditions to be able to sell five high value properties at auction in one row, because it’s a difficult ask. I think we need a pool of registered buyers of at least 10-15 on the day to create the competition and stop the auctions from stalling. I have two registered buyers at the moment and I’m working on a third. It’s hard to say, but registrations have been late in previous years and it always seems to come home strong.”
Mr Pabst is using the mobile app Gavl to communicate with bidders who can’t be at the auctions on the day. He said that included a registered bidder in London who was interested in the properties.