Is it time for Frankston?

Truly Exotic said:
I was at the auction as moral support for a friend of mine, I did think it was slightly underquoted, but thats nothing new for frankston.

I was however very surprised at the final price,

but not surprising it would have attracted professional developers, to amateur to mum and dad developers along with investors,

corner block, big block, existing house shabby, great location, close to frankston high school and within the zone,

I was expecting $600k max, or even high $500s, as someone did a fesa study in another thread, not sure where the value in it was except for a long term hold or land banking

edit:L you can still get 700-800 sqm blocks (buy it now) in similar streets for $500k so I think there was a bit of emotional bidding going on
Click to expand...

$712k !! unbelievable.

didn't make it to auction date, however went down to have a look- absolute prime block for a developer to move on it straight away..

@cadence, originally it was listed for $450k then a week or so prior to auction $480k. deceased estate
 
Hi

Only the front building of the Ambassador complex is going to be demolished and new townhouses put on the front part of the site only. Currently this front building has no residents as it is dilapidated and un-inhabitable.

The rear 110 or so individual units which is where the problems from lower socio-economic residents doing what they do best is happening will remain.

So who here is brave enough to purchase one of these new front apartments knowing full well the problems will still remain?

Regards,

alicudi
 
thanks Alcudi. You'd have to be nuts to buy luxury there. Shame they cant rebuild the whole site including the 110 units.
 
simtr said:
thanks Alcudi. You'd have to be nuts to buy luxury there. Shame they cant rebuild the whole site including the 110 units.
Click to expand...

Hi

To simtr: Your comment would be the best outcome for Frankston and I would like to see it happen sooner rather than later.

Considering each of the 110 or so rear units are separately titled it would need some type of compulsory acquisition to be implemented to have all owners to agree to sell to a single entity that would then be able to develop the whole site.

I wouldn't be purchasing one of these new luxury units..

Regards,

alicudi
 
Mcmahons rd was under contract but finance must of fell through. I used to live next door to that house. I think 495 is a steal. But i reckon it go for 480k
 
thanks neeko, I see your comparisons,

i also noted that in dec 2014, and jan 2015, petrie, stanley and dandenong road 600-700sqm block houses sold for $345, $350, $337k

so what do you guys see for this one?

http://www.realestate.com.au/property-house-vic-frankston-119425439


that being said, it does not surprise me that frfankston agents have the worst reputation in a long way,

they are advertising 627sqm, and in reality its 580sqm, and they refuse to change it

offers above $350k, what do you guys think its worth if it was 627sqm,

me thinks, 627sqm worth about $360k
580sqm worth about $340k

dodgy dodgy dodgy agents
 
Hi

I think what Neeko says about the property in McMahons road would sell for around $480k is right on the money.

In regards to the Nepean Highway property with fantastic views I would estimate somewhere around $1.1m. I do know someone looking at this very site and are considering demolishing the existing house and putting a new very large double storey on it. I think if anyone else purchases it the site will be turned into some nice townhouses.

Regards,

alicudi
 
TMNT said:
thanks neeko, I see your comparisons,

i also noted that in dec 2014, and jan 2015, petrie, stanley and dandenong road 600-700sqm block houses sold for $345, $350, $337k

so what do you guys see for this one?

http://www.realestate.com.au/property-house-vic-frankston-119425439


that being said, it does not surprise me that frfankston agents have the worst reputation in a long way,

they are advertising 627sqm, and in reality its 580sqm, and they refuse to change it

offers above $350k, what do you guys think its worth if it was 627sqm,

me thinks, 627sqm worth about $360k
580sqm worth about $340k

dodgy dodgy dodgy agents
Click to expand...

Yeah id have to say around 370k mark for queen st. Thats my thought. But who knows ey peeps
 
You must log in or register to reply here.

Similar threads

J
any body heard about this new mini suburb
Replies
11
Views
2K
newbietoinvstng
N
B
Victorian bushfire images - Morwell, Gisborne, Craigieburn, Riddell's Creek
Replies
7
Views
2K
Beanie Girl
B
T
Orica Deer Park development project
Replies
0
Views
1K
Teshy
T
fokas
How much is your pet worth (for the value of your house?)
Replies
3
Views
1K
james55
J
B
Seaford - Nepean Highway
2
Replies
21
Views
4K
Lord Shanghai
L
Back
Top