118 Westbourne Grove NORTHCOTE

Benefits

Higher positional potential for long term growth
Growth above average metro in last decade
Excellent land content as proportion of price
Good rental prospects
Lower risk established look

Concerns

Requiring significant additional cash to purchase price
Other properties in the street could be a negative issue
Negative privacy issues
South facing rear (negative light issues)
No separate laundry
Mal James
Mal James
0408 107 988
[email protected]

Comments on 118 Westbourne Grove NORTHCOTE

There is a lot to like about 118 Westbourne if you're into projects - especially period home projects where you can add value and change the overall homes sense.

At the moment you have a façade that is hard to see anybody not liking - you have a street presence that says this is a home of substance and a land size and street frontage (two) that would encourage and then allow a serious renovation (STCA) to bring out the best in this home.

Your work would be three fold.

Firstly, besides the obvious removal of the out of date internal Mediterranean influence (being kind), you would look to rework the flow of the home, add wet areas (another bathroom/ensuite at least) and for me, think through how you improve the balance between east rooms (under sized proportionally in width) - the hall and the westerly rooms which are of good size - all while working around a roof line that you would have to respect from a council point of view and want to respect from a street aesthetic point of view.

Secondly, the rear yard, garage and laneway (that is on title but not for your exclusive use). Dirt removal - incorporating the laneway? Maximising yard space while allowing for an expanded home foot price for greater internal living areas, are all issues requiring thought.

Thirdly upstairs - how do you best maximise views, keep council happy and add significant value to the home emotional and financially within an acceptable budget?

All good thoughts and in my opinion all with good answers.

Overcapitalise - hard to see you doing it if you keep within normal bounds and the initial buy is at an acceptable price - there is history of completed sales in the high $2m.

The area will have some high density issues as time goes by, but it is hard to see your views being completely shut out and this home is amongst friends of similar attributes. Buyers may also wish to make enquiries in relation to the tennis courts on the other side of the road towards High St.

I like what is there - if you do to then maybe next step is some architectural input to confirm before you start the purchase process.

This home has been rated as a Major Renovation, therefore all points in relations to rooms have been left as neutral.



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James Buy Sell works across Melbourne’s top-end property market to help our clients make smart real estate decisions.

4
Bedroom
1
Bathroom
2
Parkings
519sqm
Land Area
Floor Plan Agent

Sold - 10:30 AM Nov 21 2015

Quote $1,750,000

South Facing

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Advice that Matters

James Buy Sell works across Melbourne’s top-end property market to help our clients make smart real estate decisions.