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One-bedroom house sells for $1 million in remarkable North Melbourne auction

One-bedroom house sells for $1 million in remarkable North Melbourne auction

28 Jun 2017 simpson 0 Comment

A RARE one-bedroom house in North Melbourne has fetched $1 million in its first sale since 1979.

The price was a whopping 50 times the $19,750 figure last achieved by 8 Baillie St 38 years ago, according to CoreLogic records.

W.B. Simpson & Son auctioneer Richard Simpson said eight bidders fought for the Victorian terrace, which occupies a 133sq m block near the corner of Arden and Curzon Sts, pushing it $160,000 past the vendor’s reserve price.  Mr Simpson said an investor won the keys and planned to rent out the property for the time being.  The seller had lived in the house for some time before moving to the country and also renting it out.

Mr Simpson said the property was on the market at $840,000, and six bidders drove the price to $900,000 from there.  Two new parties then jumped in and remarkably took the price to its seven-figure finishing point in 100 $1000 bids.

Click here for full story from Herald Sun.

 

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