Former milk bar in Fitzroy North sells for $5.1 million at auction
“This house had everything you could want in a property,” he said. “I could have stood there longer than the auction and named all the features.”
A former laundromat and grocery store in the heart of Coburg sold at auction on Saturday for $1,130,000, almost 15 percent above reserve.
Updated three-bedroom Edwardian sits on a corner 105 Munro Streetand had a price guide of $900,000 to $990,000.
Baltic pine floors, wooden dining nook and pink details in the kitchen and bathroom stand out.
Barry Plant representative and auctioneer Jarrod Couch said there was “a bit of history in the building”, including work preserving the original store front, and the property was attracting interest.
Couch started with the seller’s bid of $900,000, and the bidding started in earnest at $910,000.
The former store on Munro Street has been converted into a work corner.Credit: Barry Factory
As bids rose in $10,000 increments, three bidders competed to easily surpass the $990,000 reserve. A couple in their 30s won the day to get their first home.
The sellers, who moved to NSW four to five years ago to retire, had recently been renting the house as an investment.
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“They have no plans to return to Melbourne and have decided it’s time to move on,” Couch said.
He said both auctions this year sold fairly comfortably, and more generally, buyers were not afraid of recent increases in interest rates.
“I think the sentiment among buyers is that they realize the last rate hike was a small drop in the pond,” he said.
