Beautiful Black Rock

Some assignments go down in history as being particularly memorable for good reasons. Sometimes the journey is a long one with a fantastic reward at the end, and often our clients are an absolute delight to work with from the minute we commence our search.

This assignment was both.

Back in October we commenced our search for a challenging brief; an investment grade, easy-to-rent property in the glossy Bayside patches of Hampton to Black Rock… but it had to bode well as a future downsizer home for our duo.

We often challenge such briefs, because buyers can risk jeopardising their selection when they try to balance the home vs investment model. The only two times the balance can work is when either;

• the investor targets areas where they (themselves)are representative of the mainstream, target tenant, or
• the homebuyer accepts that they may need to compromise on some of their own wish-list items when selecting a suitable investment

In both cases, our buyers accepted the challenges and kept a level head throughout their search. Their requirements were realistic and attainable, however the popularity of their search criteria was always going to heighten the threat of competitive bidding. We consistently targeted rear-positioned, abundant-yard villa units in prime locations. Walking distance to shops and village remained a criteria of utmost importance, and quiet living, leafy streets, private yard area and large garden space was targeted each time. This set of criteria meant that over a six month period, very few properties actually made the grade. 

The first heartbreak struck late last year when this stunner in Red Bluff  Rd sold under the hammer. Boasting a modern renovation, fabulous entertaining space and glorious deck and yard, it stole more hearts than just our buyers’.

The perfectly-styled, rear villa unit in a block of eight sold under the hammer for $875,000, exceeding budget and leaving our buyers with slumped shoulders.

Once summer holidays passed and the market warmed up again, we were happy to find another eligible villa in the same suburb. Again this one offered a superb renovation and a great outdoor area. Bidding for our duo this time was a bit different. They knew how disappointment felt and were better prepared for the result. Missing out  this time wasn’t such a blow, and it gave way to a fresher approach with our search.

They made a critical decision to consider less ‘polished’ properties.

Accepting that the buyer demographic driving the strong results were those who also targeted the stunning renovations was the first step they took to increase their options and enhance their chances of success.

This gorgeous rear property in a block of just four came up and caught our eye… and while it was not offering a modern circa-2017 renovation, it was sound, neat, rent-ready and sitting on a generous parcel of land. 4/27 Third St Black Rock seemed to offer a lot in its current state, but also represented an exciting opportunity. Our clients had already excitedly plotted out how a rear decking arrangement could change the private back yard for their use, and the orientation and positioning of the bedrooms meant that every outlook was into a private yard. 

 

Villa unit layouts are often compromised when bedrooms look out into driveways or communal spaces, but this one was perfect.

Preparing for auction was the easy part. Preparing our buyers for heartbreak was not something I wanted to face. Luckily for us, the bidding was not as fast and as furious as we’d feared and we secured this beauty for them for $742,500.

We worked together on this assignment for just over six months. 

It’s days like this when we are reminded that the wait was worth it.

Wishing our wonderful couple some fantastic immediate growth, exciting options for renovation, and many fun years ahead in sunny, beachside Black Rock.