An immaculately-presented family home with elegant styling of yesteryear sold some $230,000 above its advertised price guide at auction on the weekend, surprising even the selling agent.
The three-bedroom brick home at 47 Bevington Rd, Glenunga, which had just one family of owners, was advertised with a $1.25 million price tag.
It ended up selling for $1.48 million, after attracting eight registered bidders, and was the highest-selling SA property of last week, according to CoreLogic.
Agent Matt Scarce, of Scarce Real Estate, said he understood the buyer had plans to eventually develop the site and development potential had been one of home’s main drawcards.
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It was set on a 1180sqm block and Mr Scarce said the sale price, which was “above expectations”, equated to about $1250 per square metre.
“It’s a fairly significant sale for the area – most people were seeing it as a land value opportunity as much as the home was quite neat,” he said.
“Square metre rates in the area have climbed significantly in the last few years.
“I feel a lot of it is to do with the Glenunga International High School zone – a lot of people are wanting to get into that certain zone – it tends to really increase numbers at inspections, especially on that side of Portrush Rd, where you can actually walk to school.”
Mr Scarce said the home had a 37.5m frontage, which could potentially be divided into two 18-plus metre frontages – a size “quite unusual for this area”.
The home featured wallpapered bathrooms, a timber kitchen with more spotted wallpaper, and formal lounge and dining rooms with floral curtains and large windows.
Hidden behind a typically Adelaide-style brush fence, it was also on a surrounded by gardens, with a Hills hoist-style clothesline out the back.
Mr Scarce said more than 100 groups inspected the property during its three-week auction campaign.
“The majority were developers – we did have purchasers looking for a single block to build a single home on a larger site,” Mr Scarce said.
“But 80 per cent-plus were interested in it because you could have two sites there.”
While the vendors were happy with the auction result, Mr Scarce said the sale was an emotional one as they had made many memories there over the years.
The auction itself moved quickly, he said.
“There were some people very serious about securing it – the price did climb quickly and we finished the auction in a reasonably short time.”
Glenunga sits about 5km east of Adelaide’s CBD in the prestigious Burnside council area and has a median house price of $1 million, according to CoreLogic.