“We appreciated Nicole's transparency in her approach as well as Kay & Burton’s presence in the South Yarra market."
Adam, Kay & Burton Client

A case study in the successful property marketing of 6 Avoca Street, South Yarra c/o Kay & Burton Partner Nicole Gleeson.

Property

This sprawling three-level Victoria house is a landmark in the neighbourhood. While the home’s period features are impressive, it’s the curved wrought-iron balconies on the two upper levels, both with generous bay windows, that slow traffic down, both vehicular and those strolling past. Named ‘Waterloo’, the grand Victorian, circa 1880s, includes four bedrooms, three bathrooms, two living areas and a study. On a 274-square-metre site, there are outdoor spaces, including a plunge pool on the middle level, and off-street car parking for two cars, the latter being highly desirable for this part of town.

The vendors, Alice and Adam, with two of their three adult children living at home, had considered renovating and opening up some of the smaller rooms. But during 2020, with COVID-19, they spent most of the year living and working from Mansfield and realised that they no longer required a large family home. “We obviously love being near all the restaurants and shops, as well as Fawkner Park and the Royal Botanic Gardens. And we will certainly miss the house, which is truly unique,” says Adam.

The estimated price range was given as between $5.8 and $6.3 million, with the result being well over that range.

Campaign

Nicole Gleeson suggested an Expression of Interest (EOI) for this property. She had some experience trying to sell this house 10 years ago and while there are numerous period features, she could see a few flaws: a couple of the bedrooms were smaller than the others (children always prefer having the same sized space), there were two flights of stairs and there’s no lift. So, the first inspection started on the 25 November and the last just before 16 December when the EOI closed. The property sold the following day.

Days on the Market

The house was on the market 22 days and sold on 17 December, one day after the EOI closed.

The Buzz

It has to be a transparent process for both the vendors and those interested. So, when an appropriate figure was ‘placed on the table’ to Alice and Adam, Gleeson would then go back to the others who were genuinely interested. There were 10 to 20 people through each inspection and close to 130 people at the end of the campaign. Despite three other competitive parties, it finally went to a local family who intends to open up some of the spaces and put in a lift.

Campaign Elements

Having the Avoca Street house on the cover of Domain in The Age was certainly appreciated by Kay & Burton, as well as the vendors. It also went into the Australian Financial Review that’s read by a national audience, together with a video made of the place. Kay & Burton’s digital database and social media platforms also proved to be beneficial.

6 Avoca Street, South Yarra

6 Avoca Street, South Yarra

6 Avoca Street, South Yarra

6 Avoca Street, South Yarra

The Vendors

The vendors, Alice and Adam, first met Nicole when they decided to sell their family home in Camberwell. And while Nicole wasn’t in a position to assist with that sale, given it was outside of her domain, the couple were both impressed with her openness and her honesty. And over the next few years, they met her regularly at various open-for-inspections in the South Yarra precinct in which they were looking. “Nicole would regularly ring us if she saw a house that she thought may have been of interest,” says Adam.

The Benefits

“We appreciated Nicole’s transparency in her approach. She certainly didn’t use the usual spiel such as ‘I have a buyer for your house’,” says Adam, who also appreciated Kay & Burton’s presence in the South Yarra market. “You could say that there’s a level of sophistication,” he adds.

Experience

Given the restrictions of COVID-19, fewer people were able to inspect the house. But these restrictions meant that the number of people simply wanting to see the house, rather than having an intention to buy it, was reduced considerably. There were four interested parties, some of whom came with their architects or builders and rather than a series of visits, these were carefully managed by Gleeson. “And we were updated daily, not just every week,” says Alice.

Top 3 Things

  1. Gleeson’s excellent communication skills and we liked the fact that a woman was selling our place in an industry that’s primarily led by men.
  2. The ability to secure front page coverage in the Saturday Domain magazine in The Age.
  3. We didn’t have to have the house spick and span all the time and were given plenty of time to arrange it well before people arrived.

 

For advice regarding your property, contact Nicole Gleeson on 0414 809 221 or via ngleeson@kayburton.com.au.

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