40 Hedderwick Street ESSENDON

Comments on 40 Hedderwick Street ESSENDON

This home has the potential to be a great-looking property from the street but, as the main picture depicts, it does appear a little neglected. This is simply an unrenovated home on a large block of land - but you only have to step outside to see that the backyard is really nice and that the workshop is quite palatial with a high quality bathroom. Does this make the property any more than land value in most buyer's eyes? The land is certainly bigger than average in the area and it does have a wide frontage. I think buyers will be confused about value here. I acknowledge the precinct is good, Mar Lodge has history and it is a sought after spot. There is however no heritage overlay that I could find, so my guess is that this may end up with a lovely big new home on it at some point in the future, with the workshop and the landscaped backyard a bonus. So, it's down to the mathematics to figure out the value of the land and work out how other buyers (or developers) may see this opportunity.