A Brighton tennis court and adjoining vacant block are for sale with jaw-dropping $16m+ price expectations.
The property at 5 Kent Ave has been listed with a $7. 65m-$8. 395m asking range.
Marshall White Bayside director Matthew Pillios said the owner was hoping to achieve a combined sales price of about $16. 5m for both allotments, which measure almost 2220sq m in total.
The vendor was no longer using the courtroom and had decided to “test the market”, he added.
“Most purchasers have been looking at it to buy a single block but some have been wanting to buy both and build an amazing compound, ” Mr Pillios said.
“It’s one of the rarest opportunities in Brighton Golden Mile history, since I sold a vacant block at 23 Seacombe Grove for $22m last year. ”
The “Golden Mile” is a colloquial name for the Brighton area bordered by St Kilda St, Head Saint, Brighton Yacht Club and the beach, which includes several luxurious houses and tree-lined neighbourhoods.
Bayside Council has approved a planning permit to build a “rock star” triple-storey, six-bedroom mansion featuring a six car-garage and gym on one of the blocks, with an interested buyer welcome to take on the plans for themselves.
“I reckon it would re-sell for $20m if someone buys and then builds the house, ” Mister Pillios said.
He said most of the interested purchasers were from Brighton and Toorak, with “current buyer interest at $7. 4m-$7. 5m” for one of the blocks.
The property has street frontage of about 20m and extends back about 55m.
It is close to the beach, the particular Bay Trail, North Point Pavilion, parklands, schools and Martin St Village’s cafes.
The Middle Brighton marina and famous Brighton bathing boxes are located slightly further south.
Mr Pillios said that although January was traditionally a quiet time for real estate, he had already sold two other Brighton listings this month, including a circa-1900 house named “Kalimna” at 25 Normanby St for about $6. 7m.
The new owners were planning to retain the five-bedroom abode’s heritage facade plus update the inside, he said.
Approved plans for the home include the addition of a home cinema, four-car basement garage, gym, pool and spa.
A five-bedroom house at 1 Dawson Ave sold for just below $6m to a developer planning to build “two unbelievable townhouses” designed by Martin Friedrich Architects on the 779sq m site.
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