Fusion home in Northcote sets a price record for suburb

The sale of 11 Mitchell Street, Northcote, has set a suburb price record. Photo: Supplied The glistening, modern extension at the rear of 11 Mitchell Street, Northcote, which sold for $2.82 million on Saturday. Photo: Supplied
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The owners of 11 Mitchell Street in Northcote created a surprising home that fused period and contemporary. Photo: Supplied

The winter market continues to see properties with outstanding selling features draw multiple bidders.

An impressive fusion of a polychrome brick Victorian and a cutting-edge two-storey glass and steel rear extension delivered $500,000 over reserve.

Some 350 people saw three local families wrestle for the five-bedroom house at 11 Mitchell Street, Northcote. The winners paid $2.82 million, against a reserve of $2.3 million.

Hocking Stuart auctioneer Sam Rigopoulos​ said this was a record price, both outright and per square metre, for the suburb.

Another polychrome brick Victorian, on just 130 square metres, had been held for the last 60 years.

It offered the only slot in tightly held Princes Hill apart from one other property which was asking $5 million-plus. Interestingly, the niece of the first owner of the tiny, 112-year-old two-bedroom terrace at 361 Pigdon Street said on Saturday that during the Depression, 12 people were living there.

At auction, five out of nine interested parties put their hand up. Woodards’ Quentin Hinrichs sold it for $973,000 against a “conservative” reserve of $800,000.

In Hampton a first-home buyer with her parents fought off four investors for the keys to a two-bedroom, first-floor apartment, close to Hampton Street’s shops and station. She had to ante up $753,000 to Hodges auctioneer Stephen Wigley for 15 Foam Street. The reserve was $680,000.

The sale of a “war service” home with three small bedrooms, built economically on a generous 722 square metres, showed the surging interest in demolition for multi-unit development in Preston, Coburg and North Coburg, said buyers advocate Bruce Renowden. Four bidders, all developers, heard 19 Belgrove Street, Preston, was on the market at $730,000 and they took it to $810,500 for Barry Plant.

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