5 Mena Ave, Cheltenham sold for $2.275m after 165 people turned up to the Golden Triangle auction, with Ray White’s Trevor Bowen saying the opening bid wiped out much of the competition.
A Cheltenham family home that drew a carnival-like crowd of 165 people sold under the hammer for $2.275m after an opening bid instantly wiped out much of the competition.
The four-bedroom, three-bathroom residence at 5 Mena Ave sits on about 776sq m in Cheltenham’s tightly held Golden Triangle.
Despite the huge turnout, only two bidders actually placed bids.
Ray White The Bayside Group’s Trevor Bowen said the home was quoted at $1.85m to $1.9m, with the reserve set at $1.85m.
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“The very first bid came in at $1.9m,” Mr Bowen said.
“So from the opening bid, the property was already on the market.”
He said 11 buyers didn’t bid because the price moved beyond where they saw value.
Mr Bowen said the turnout reflected the pull of the family pocket, including the home’s position in the Beaumaris Secondary College zone.
The kitchen at 5 Mena Ave, Cheltenham features 900mm cooking appliances, stone benchtops and a butler’s pantry, a key drawcard in the Golden Triangle family sale.
A “carnival-like” crowd of 165 packed into the backyard for the 5 Mena Ave, Cheltenham auction, where only two bidders ultimately placed bids, agent Trevor Bowen said.
“You’ve also got two train stations within about 1.5km, plenty of parks, and Southland nearby,” he said.
The double-storey home is about three years old, with the balance of the builder’s warranty in place, and includes multiple living zones, a ground-floor study and a large open-plan kitchen, living and meals area.
“It’s a prime family home in a prime family location,” Mr Bowen said.
Street view of the near-new double-storey home on about 776sq m, one of the bigger family blocks drawing summer competition.
A light-filled living zone, part of the multiple-living layout that appealed to upsizers at the $2.275m sale.
“You’ve got the size, the condition, the land, and the school zone, and those boxes are getting harder to tick.”
Mr Bowen said most of the buyers were upsizers.
The crowd surprised the vendors, particularly given the time of year.
“When they arrived about five minutes before the auction, they said it felt like they’d walked into a carnival,” Mr Bowen said.
One of three bathrooms in the home, reflecting the family scale buyers were prepared to pay for.
The main suite balcony with ceiling fan, a private retreat detail that helped sell the home’s ‘as-new’ appeal.
It was an easterly, windy day, and the auction was moved at the last minute to the backyard.
“It’s a west-facing yard and a double-storey home, so it blocked most of the wind,” he said.
The result exceeded the vendors’ expectations.
“They were happy to sell at $1.85m,” Mr Bowen said.
The dining zone within the open-plan living area, linking the kitchen to the alfresco and backyard.
“If it reached $1.9m they would’ve been thrilled.
“Of course, it kept going.”
He said some buyers in the crowd were disappointed they didn’t even get a chance to bid.
“That first bid alone knocked them out,” he said.
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