The $2.5m Art Deco estate at 13 Aberdeen Cres, Essendon, has split buyers between keeping its old-school Italian charm or starting again.
A prized $2.5m Essendon Art Deco estate has sparked a fierce buyer battle in blue-chip Mar Lodge, with camps split between sending in the bulldozers or saving its old-school charm.
The home at 13 Aberdeen Cres in Essendon sits on 844sq m in one of the suburb’s most tightly held family pockets, where buyers are paying for land, location and the chance to create their own version of a prestige home.
Matthews agent Rick Langdon said the property had quickly divided the market.
RELATED: New Vic retail hub’s plan to stop $277m spending leak
‘What the hell’: MRR call flips $1m contest on its head
Costco wins approval for $74m Melb megastore
“Some of them are coming through thinking, ‘bulldozer’,” Mr Langdon said.
“But others have come through and said they would be very happy to leave the kids up here, live in the home and work out the next stage from there.
“It has been a hard split.”
Mr Langdon said the home was best understood as an “in-betweener”, rather than a straightforward knockdown or fully finished family home.
“We are classifying this as an in-betweener,” he said. “It is not like some of the other properties around here where every board is gone and it is 100 per cent knockdown.
“It has a bit of both.”
The entrance sets the tone for the Essendon home, with a classic old-school feel that gives buyers something to work with.
The kitchen has serious old-school Italian family-home vibes, the kind of space buyers could update without losing the home’s character.
The three-bedroom home has Art Deco ceilings, multiple living zones, a central bathroom, large backyard and an oversized garage with workshop, kitchenette, bathroom and a studio above.
The rear set up has become one of the property’s biggest selling points, giving families the chance to use the extra space while they work out whether to renovate, extend or rebuild.
Mr Langdon said many buyers were already doing the renovation maths as they walked through the home.
“A lot of people have said they would cut off the old extension and do a new architectural extension out the back,” he said.
“That gives them the chance to keep the character at the front and then create something more modern behind it.”
He said Mar Lodge remained Essendon’s prestige pocket.
“For out here, it is the most prestigious area,” Mr Langdon said.
“It runs from Buckley St up to Keilor Rd, with all these little through streets, and it has always been regarded as the best area.
“It is a strip of family homes.”
The oversized garage set up gives the Essendon estate a major bonus, with space for a study, studio or teenagers’ retreat.
The lounge room shows off the home’s Art Deco ceiling, one of the character features buyers are weighing up whether to save.
Mr Langdon said buyers were drawn to the confidence of buying into an established family-home pocket.
“You can buy this property with confidence, knowing they are not going to build three or four townhouses across the road,” he said.
Asked whether the home could be considered a blank canvas, Mr Langdon said that was exactly the appeal.
“It is a blank canvas,” he said.
The large backyard is where buyers could make the biggest move, with room for a modern extension, family entertaining zone or full rebuild.
“You are not buying someone else’s renovation. You can come in and decide what you want it to be.
“That is what we have said from the start: room to renovate, rebuild, or just brag.”
He said the home needed money spent on it, but buyers would not have to take on the whole project immediately.
“Oh yeah, obviously it would need a renovation,” Mr Langdon said.
“But at the same time, it is quite liveable. You would not have to move in and do everything straight away.”
Mr Langdon said the long-term owner had a lot of pride in the home after living there for 35 years.
“He has a lot of pride in what he has done here and a lot of memories,” he said.
“But at the end of the day, once the property sells, it comes down to dollars and cents.”
The garage includes extra space above, adding flexibility for families while they decide whether to renovate, extend or rebuild.
The dining area leans into the home’s old-school Italian charm, giving the property a lived-in family feel rarely found in new builds.
He said the property would suit a buyer trying to enter Mar Lodge below the price of a fully renovated family home, then improve it over time.
“It is a great opportunity for someone who wants to get into an entry-level property in the area, where they can come and live here for a handful of years before they need to do anything,” Mr Langdon said.
“If you moved in here, you would stay here.
“You could move in as a young family. I would not have a problem with my kids living here now.”
The property is being with a $2.5m price guide.
Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox.
MORE: Wild loo roll photo sends house listing viral
Young couple wins three-way tussle for Newtown home
‘Can’t fix it’: Ch9 secret Block act emerges
david.bonaddio@news.com.au
English (US) · 