“Monique seems to know every inch of East Melbourne, and what people are looking for, which helps enormously."
Virginia, Kay & Burton Client

A case study in the successful property marketing of 16 Webb Lane, East Melbourne c/o Kay & Burton Senior Sales Consultant & Auctioneer Monique Depierre.

This large three-bedroom townhouse in East Melbourne benefited from not only having two separate living areas, but also a study area on the first floor. Approximately 220 square metres in area, this red brick home, part of the Yarra School redevelopment, is only a stone’s throw from the CBD, with Yarra Park at the end of the street and just minutes away from the Bridge Road shopping precinct. With only 15 townhouses fronting Webb Lane, it’s an unusual development so close to the city. And for those looking to purchase a home in this precinct, the price guide of between $1.86 million (based on the sales result of a neighbouring townhouse a few months prior) and $1.98 million was a point that would attract interest.

Recently renovated, 16 Webb Lane features high-quality fittings and fixtures, handmade tiles in the bathrooms and a sophisticated kitchen with Miele appliances (a grill and five gas hotplates). On the downside, the townhouse was bound by busy Punt Road to the east. However, the vendors had triple-glazed the windows as part of the renovation. There is also secure parking for three cars.

Campaign

The first open-for-inspection was on 2 October and at this point, with COVID-19 restrictions, private inspections with one group at a time was the norm. Monique opened the townhouse for inspections considerably more than the times specified for those who expressed interest. Apart from the two large property boards, one on Punt Road and the other in Webb Lane where the front door is located, the only advertising was through the digital via realestate.com, domain.com.au and kayandburton.com.au. 

Days on the Market

The East Melbourne property went onto the market on Saturday 2 October and sold on 23 October - 22 days on the market.

The Buzz

Those interested in 16 Webb Lane included a fairly broad demographic in terms of ages -predominantly 40 plus - from younger professionals wanting to be close to the city for both work and recreation to older couples, empty nesters scaling down from their family home. Many came from Kew, Hawthorn, Eaglemont, Ivanhoe and Doncaster. There was also interest from those living in Richmond and keen to move to East Melbourne, but were facing particularly high prices. “We would have had about eight interested parties, with two of these determined to buy the property,” says Monique, who opened the auction with a vendor bid of $1.86 million before selling for $2,065,000, setting a new benchmark for these townhouses. “Most of the interested parties really didn’t get the opportunity to bid, with the winning bid from an older couple who had been living in the country and wanted to be closer to their family,” she adds.

According to Monique, those who inspected 16 Webb Lane loved the timeless and elegant interior. They also appreciated the convenience of having Yarra Park at the end of the street. On the downside, some were concerned about being adjacent to Punt Road and being part of a body corporate (with the other townhouses and apartments). Some also weren’t thrilled to have an apartment above them. “But they could see how quiet it was inside and it was the perfect ‘lock-up and leave’ property.

16 Webb Lane, East Melbourne

16 Webb Lane, East Melbourne

16 Webb Lane, East Melbourne

16 Webb Lane, East Melbourne

The Vendors

John and Virginia had leased out their property as they live on Victoria’s Morning Peninsula and had no plans to use this place once it was vacated. “We first met Monique eight years ago. She just casually remarked that if you decide to sell let me know, following up with a lovely note to us,” says Virginia.

Experience

The couple’s experience of engaging Monique was extremely positive. “There’s her wonderful attention to detail. We never felt pressured. John and I always looked forward to her feedback after every inspection, usually a call at the end of the day. Everyone loved the study area, but she also pointed out the concerns, such as people not having direct access to their cars, having to go outside and via communal stairs,” says Virginia, who, with John, was pleased with the price that was achieved. “Monique seems to know every inch of East Melbourne, and what people are looking for, which also helps enormously."

Top 3 Things

  1. Monique is so committed to her job – it shows – she’s extremely thorough.
  2. We also found her helpful to prospective buyers which is unusual.
  3. Monique is so stylish. We both have a fashion background - Monique was a buyer in Paris and I worked for Vogue so there was also a synergy from the start.

For advice regarding your property, contact Monique Depierre on 0407 881 327 or via mdepierre@kayburton.com.au

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