A regal street named for a regal chap, George Street East Melbourne is a private idyll rich with historic property, tightly-held by those fortunate enough to call it home. An island of quiet running between Clarendon and Hoddle Streets, George St is as famous for its grand mansions as it is for its modern library and popular George Street cafe.
In the past financial year, few properties have transacted along George Street. A flush of stately homes (173, 175 and 178 George) sold achieving outstanding results in line with their rarity, and a number of one-bedroom apartments at 29 George Street also exchanged hands.
I was pleased to be involved with the record-setting sale of 2/109 George Street – an attractive ground-floor two bedroom apartment in a boutique block which sold for $1,022,000 under strong competition. With interest rates low and asset-rich investors seeking to move closer to the city, the next six months will be critical for any vendor seeking to achieve a premium result for their George Street property. Below, please find all the sales results achieved along George Street for the past financial year.
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Sales for Financial Year 2013-14
9/29 George Street: 1 bed, 1 bath, 1 car $485,000
16/29 George Street: 1 bed, 1 bath $461,000
17/29 George Street: 1 bed, 1 bath UNDISCLOSED
18/29 George Street: 1 bed, 1 bath UNDISCLOSED
19/29 George Street: 1 bed, 1 bath $460,000
6/32 George Street: 1 bed, 1 bath $610,000
7/37 George Street: 1 bed, 1 bath $440,000
1 & 8/101 George Street : Studio Apartment and Reception $199,000
7/108 George Street: 1 bed, 1 bath, 1 car $465,100
2/109 George Street: 2 bed, 1 bath, 1 car $1,022,000
1/187 George Street: 2 bed, 2 bath, 1 car $652,000
173 George Street: 3 bed $2,550,000
175 George Street: 3 bed, 2 bath, 2 car $2,075,000
178 George Street: 4 bed plus additional apartments to rear $6,350,000
188 George Street : 6 bed, 4 bath, 2 car UNDISCLOSED
193 George Street: 6 bed, 7 bath, 5 car UNDISCLOSED
*Anthony Gattuso Auctioneer has gathered this information to provide an interesting document for readers and subscribers. Information contained herein is gathered from a range of sources including but not limited to; local press both virtual and hardcopy, Valuer General Information & Agents own investigations. All efforts are made to verify the information provided. The information is not to be relied upon or used in dealings with third parties and people should make their own investigations regarding their own property or personal circumstances. Opinions and observations offered should not be treated as fact.