24 Maleela Avenue BALWYN

Comments on 24 Maleela Avenue BALWYN

24 Maleela is a beautifully renovated family home in one of Balwyn’s better precincts.
 
Position Macro: Maleela is one of Balwyn’s better streets and that in part is due to most of the homes being bigger blocks (we have had involvement in buy/selling at 9 and 17) and location to schools, in particular Camberwell Grammar.
 
Tram at the end of the street is good, but train is distant – not major as tram runs past Burke Road Connection (into many other suburbs), past MCG for footy and into the city. For many Asian-Aussie the tram also runs the other way to Box Hill. Freeway to the peninsula is a plus.
 
Within the Heritage Precinct Reid Estate and you can see that this has been a successful overlay in keeping the character of the past – 1930’s.
 
Position Micro: Some road noise, discernible outside the home on entrance and in the backyard is not so much a general issue – as most buyers would not be affected – but specifically some sensitive souls may not like it – but my best guess is even they would not be annoyed by it after a while. No noise was apparent to me when inside the home – although again the master bedroom will need some secondary checking as its largely glass and unsheltered by buildings between from road noise.
 
Across the road – being a large block of land, currently a nursing home, but sold and looking to be developed (in VCAT process at time of writing) IS AN ISSUE that needs to be understood as to what can go there and how that may interrupt life for several years and capital growth in the long term if it is perceived by future purchasers to be an eyesore. This for me is the only key negative of this home and it may not be a negative, but it may be – you need to make an informed decision.
 
Property Building: On first impressions this is a grand home – a classic late 1920/30’s with a beautiful façade, lovely front plantings and plenty of space for cars without going into the basement garaging.
 
Within the house, quite simply but hopefully no less dramatically on the impression I am trying to leave with you – it works. In our rating you will see that we could not fault the proportions, the sizes, the flow, light, connections (within and to the outside), transactions, separations for small and large, younger and older families – its perfections in flexibility and when you see that BE was the lead architects then you know why – they have the DNA for beautiful, practical and well-built residential work over a long period of time (*meaning we know them and have bought their building before and recommended them, we have no financial connection with them).
 
Let’s just say everything for a modern family is there now and will continue to be that way for decades to come. We have been harsh in our marking of 3 levels with not lift – but there is provision for a lift, should you want to put one in.
 
Downstairs you float inside and outside and upstairs you have a sense of expanse with the views. Bedrooms are sensational and good separations and parents wing and lots of storage. As the second level is setback from the first level you see flat parts of the lower roof – not a plus – but for me easily solvable with river stones.
 
Property Land and Outside: So, the size at over 1300sqm is well above average and this allows good setbacks from front of street and side neighbours – however a potential weakness is its irregular shape at the rear – I say potential for the way it has been landscaped and protected with plantings – which in my mind negates the issues of crops into and irregular shape backyard – there is no BS in my comment in that I actually really like the feel and do not see any element of compromise.
 
Price – the 3^rd P that sets this an A-grader or a potential A-Grader.
 
Its big attractions are beautiful renovation of a large house, with nothing to, well located to many key eastern public and private schools all on a big land size. Perfection and it is…..but perfection with an unknown (across the road).
 
Is this $10m on a strong day with lots of interest….. it may be thought of…….but we are in a weaker market  and it does feel like something 9 something. For it to be in the 8s that is possible, but our best guess will fall with solid interest over the 9, rather than under it.