‘On the next adventure’: Renovators sell inner-city Edwardian for $1,385,000

A two-bedroom Edwardian in Richmond, directly across from Bicentennial Park, sold for $1,385,000 at auction on Saturday – $65,000 above its reserve.

The home at 20 Parkville Street sits in a row of red-brick terraces looking onto the park. It maintains original exterior features such as tessellated tile paths and stained-glass windows, and has an updated interior featuring high ceilings, open-plan living and new appliances.

It had a price guide of $1.2 million to $1.32 million, and a reserve of $1.32 million.

Jellis Craig Richmond agent and auctioneer Luke Schickerling said strong bidding opened at $1.2 million, the bottom of the guide, and went up quickly in $10,000 increments before hitting $1.32 million and being declared on the market.

From there, three potential buyers continued to trade bids until the home sold to a young couple, who Schickerling said were new to the Richmond area. The vendors were renovators, who he said were now “on to the next adventure”.

He said the property had performed well, and there were more people bidding than he would have expected just a few weeks ago, as the market was starting to warm up for spring – traditionally the peak period for auctions in Melbourne – and fewer properties were coming up for sale than expected.

“We have the lowest stock levels I can recall in recent memory,” Schickerling said.

The property was one of 598 scheduled to go to auction in Melbourne this week.

In Brunswick, a warehouse conversion apartment – in the same building known to be the home of Nina Proudman in the TV series Offspring – sold for $1,126,000 at auction, soaring $126,000 above its $1 million reserve.

The light-filled two-bedroom apartment at 210/1-3 Dods Street , complete with quirky egg-yolk yellow central bathroom, expansive open-plan living, dining and storage areas, and a north-facing view to Brunswick’s churches and rooftops, had a price guide of $950,000 to $1 million.

Nelson Alexander Brunswick agent Janine Ballantyne said auctioneer James Pilliner opened bidding at $970,000, before four bidders pushed it easily past the $1 million mark in $10,000 increments.

From there, the bidders winnowed down to three to take the price up to $1.1 million, and then down to two as the increments grew smaller and the auction came to a close. The buyer was a professional moving into the area.

The vendor had decided to upsize within Brunswick after 21 years in the stylish apartment.

“[It’s] price-sensitive, but if people can see value, they will engage,” she said.