25 Hawthorn Grove HAWTHORN

Comments on 25 Hawthorn Grove HAWTHORN

There are numerous appealing aspects to this home that potential buyers will consider, but most may initially be discouraged by a certain obvious disappointment. However, this drawback is precisely what could make this home an advantageous purchase.
 
Position
The home's location is undoubtedly outstanding, both in terms of the street itself and its overall presence. Hawthorn Grove would undoubtedly feature in the Top 10 discussions of every Melburnian and the Top 3 discussions of every Hawthorn resident. It has held its position as a distinguished boulevard for over a century. While technically not in Grace Park for some, it is widely regarded as the best in Grace Park by others.
 
The only drawback concerning the location is the presence of apartments to the northwest, however, these apartments are manageable (with planting along the west & north fences) and can be viewed as a positive aspect, as they contribute to the home's affordability for those with renovation skills and an eye for resale potential. More details on this will be discussed later.
 
The price of the home currently feels fair. It may not generate interest at $7.5 million, but under slightly different market circumstances, it could attract competition over $9 million.
 
Property
However, it is the property itself that deserves attention, as it holds great potential. The home is single-level and situated on a spacious plot of land, with the added benefit of rear access and a small townhouse. The facade of the home is truly impressive and captures attention.
 
Consider the remarkable features of the property and focus on its positives. The home possesses the qualities necessary to become a grand residence. Rather than being a grand dame without a skirt, it can be transformed into an elegantly dressed and classy lady. Embrace the concept of "less is more" and envision the home's greatness. Nevertheless, we shouldn't ignore the obvious issue, or rather, the elephant located at the rear.
 
The following are not mere improvements or enhancements but fixes to neutralize, mitigate, and enhance 25 Hawthorn Grove:
 
Perhaps in the future, one could consider purchasing the adjoining property. However, there is no immediate need to do so, as the current footprint can work effectively with some minor adjustments that completely transform its overall appearance.
 
One major issue is that the kitchen faces the wrong direction. It should be reoriented to face east or positioned it to the east end of the current space with a mudroom for direct access from the east garden car parking, This would align the home and create a seamless flow from the generous hallway into casual living spaces and onto a beautiful garden. This could also allow for a kids' bathroom and powder room in the vicinity of the current pantry & WIR area and the current bathroom to become the ensuite for the Main bedroom.
 
Additionally, the positioning of the pool is unsatisfactory, as it seems like an afterthought and draws attention to the rear units. Consider relocating the pool (if you want one) to the main garden area and transforming the current pool space into a herb garden or outdoor sanctuary. Even with Winter Sun plantings can block an undesired rear view without restricting light.
 
To further enhance the property, I would suggest creating a connection between the rear building and the gardens at the front. This connection could exude a rustic country feel and garden atmosphere – allowing easier car movement to a point halfway down the block – via initially some “carport” like garden structure probably not requiring council approval – but not 100% sure.
 
Additionally, the "brick mass" at the rear would benefit from a rustic vine treatment. The rear townhouse is an exceptional option that many families searching for a multigenerational living concept would appreciate—it's a winner. Embrace this feature and forego the idea of underground garages, as they would likely be a significant and unnecessary project.
 
After implementing these minor changes, the property can be customized to suit individual tastes. For families with two older teenagers, one could occupy the front area while the other resides in the rear, repurposing bedrooms as sitting rooms. On the other hand, if you have younger children, the current setup is already suitable for fostering family closeness.
 
We genuinely love this home, would keep it single story, focus on some architectural input for rear living spaces and if you’re fortunate enough to buy then enjoy for possibly decades and it's hard to know where “noticeably better” exists in Melbourne.
 
The above is Property and Position – what about the 3rd P – Price.
 
When something is AAA it's always harder to pin a price down – especially as you go up the food chain $ wise. The only rider on 25 is the unknown of the units behind – will that place a ceiling on things? My best guess the more I look at this is; no or not really. I think the best way to consider 25 is to think of it as some buyers do on south facing rear Grace Park homes – some don’t like them and won’t bid, but those that do, still go hard to get what they want.
 
I think you need to test and be prepared to consider a possibility it could go below $8m – if interest is limited AND also think about the strength of the Grace Park/Hawthorn Grove market, it's ready to move-in and this home has bonuses not just an issue over most – eg rear building, on the crest of Hawthorn Grove (the best says past sales), north and the façade – that is a powerful façade, so it could go circle $9m.
 
What past sales says it’s under $8m.
- 62 Kinkora -south facing rear, needed a major reno, quoted in the $5m, 4 bidders, we were an underbidder
- 51 Hawthorn – better finishes – smaller land size - $6,400,000 – single bidders – we were an underbidder, two deals back. 

What past sales says over $9m is a possibility if the likely competition occurs:
- 34 Hawthorn Grove -same land size, weaker side of street, better finishes - $11.725,000.
- 55 Hawthorn Grove – less land size, 6 years ago and different type - $8,565,000 we were an underbidder.
- 44 Hawthorn Grove - same land size, weaker side of street, weaker finishes - $8,015,000  we were an underbidder and quote was in the $6m’s – same agent, 4 bidders.
- 41 Hawthorn Grove – smaller land size and we bought for circa $8,000,000. 

There is multiple evidence to say – let's try and get it under $8m, strong competition says you may be over $9m and let's stop at $10m because we could do better – we just don’t know when that would though.