Beachfront Foy Lane, Chelsea, townhouse sold for $2.1 million
RAIN failed to dampen buyer interest in a beachfront townhouse at 2A Foy Lane, Chelsea, that fetched $2.1 million at a recent auction.
The result for the luxurious property was well above the reserve and a record for a townhouse in the suburb, Ray White Chelsea director John Shore said.
“We would have been happy with a $2 million result for the property located on a 300sq m block,” Mr Shore said.
SEE SUBURB PROFILE CHELSEA
The October 22 auction drew a crowd of 50 and three bidders. An owner-occupier from Dandenong edged out two locals for the keys to the prestige home. It featured bay views, three bedrooms, a large study, two living areas and an atrium.
The wet weather also caused the auction of 21 John St, Mordialloc, to be held indoors where strong interest sent the price soaring to $1.925 million.
It was the top price for a house in the suburb this year, Hodges Mentone auctioneer Andrew Plousi said. It eclipsed the previous top sale of $1.65 million for 12 James Lane earlier in the year, according to CoreLogic figures.
SEE SUBURB PROFILE MORDIALLOC
“We had price expectations above $1.8 million and the bidding started at $1.5 million,” Mr Plousi said.
“The buyer came from Bentleigh and had been looking to move into the area for the schools.
“The underbidder from Mulgrave was also keen to relocate because of the schools.”
The house was built in 2000 and an extension finished in May this year. The four-bedroom home was in an elevated spot and featured stunning views of the bay and beyond.
It also offered indoor and outdoor living spaces, a kitchen and a large dining zone plus a spacious balcony for elevated outdoor entertaining.
Another standout result that weekend was for nearby 122 Chute St. It fetched $890,000 under the hammer.
Mr Plousi said it had been expected to sell for just over $800,000. There were four bidders for the three-bedroom home.
“A young couple living around the corner bought the place and will be upgrading,” Mr Plousi said.
Hodges Mentone had a 100 per cent clearance rate that weekend, selling all eight properties.
“It was a super Saturday for us and the market has been the best so far this year with plenty of buyers still trying to get into the area,” Mr Plousi said.
“Stock levels are rising as we are now in the prime selling season. Sellers are getting good prices because out-of-area buyers are prepared to pay higher prices and we have seen prices rise 10-15 per cent in the past year in some areas.”