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Essendon homeowner makes quick $565K gain after surprise offer

Real estate & property news
26 February 2024
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Queensland buyer succeeds at second auction after failing at the first on the same day

An offer too good to refuse has seen a homeowner sell 123 Bradshaw Street, Essendon (pictured below), just a year after they purchased it.

The three-bedroom, one-bathroom house on 858sq m in a coveted street changed hands for $2.665 million, Barry Plant Essendon agent Walter Mahch said.

123 Bradshaw Street, Essendon - Facade

The seller, who paid $2.1 million for the house in original condition in March last year, gained more than $500,000 in just 13 months, according to sale records.

The off-market sale resulted from the agency’s extensive database of buyers that reached beyond its local market.

“A prospective buyer contacted us to look to buy a house opposite the park on that street,” Mr Mahch said.

“We approached the homeowner and they were happy to take the very good offer, and the deal was done.”

The house located opposite Buckley Park also has Bradshaw Reserve down the road, and is near schools and Keilor Road shops and cafes. The street is touted as among the best in the suburb, with several properties selling above $2 million.

Meanwhile, a buyer from Queensland, who was the underbidder at an Essendon auction on February 17, went on to win at another auction in nearby Essendon North later that day.

The 137A Roberts Street, Essendon (pictured below), auction drew two online and two onsite bidders, according to Barry Plant Essendon agent Natalie Drazic.

The near new three-bedroom townhouse on 179sq m had street frontage and featured quality high-end finishes. 

137A Roberts Street, Essendon - Facade

“There was strong interest as the property was just four-years-old, in a popular school zone, and near trams and amenities,” she said.

It had a reserve price of $1.09 million and sold for $1.15 million. A buyer’s agent won the auction for the buyer who is house-sitting in the suburb.

“The underbidder from Queensland then went on to bid online for 2/15 Duffy Street (pictured below), which sold for $905,000 from a reserve price of $870,000,” Ms Drazic said.

The modern three-bedroom, two-bathroom townhouse is zoned to Buckley Park College, and has good access to Keilor Road and North Essendon shopping precincts, plus public and private schools.

215 Duffy Street, Essendon North - Facade

The Barry Plant Group had a healthy 78 per cent clearance rate for the week ending February 17, with 38 sales from 49 auctions.

Real estate & property news
26 February 2024
Save Article

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