49 Hanby Street BRIGHTON

Comments on 49 Hanby Street BRIGHTON

49 Hanby has been on the market for an eternity! Why?

Price is why?

The market sees little or no value in the home - it's a block of land to most and we have rated it as such.

Why? The floor plan is awkward and not easily fixable due to roof lines and stair position - as well the quality we would describe politely as basic.

A very well located block of land being Hanby St which is on the cusp of the Church Street precinct and all things trains, shops, cafes that is Church St.

Hanby St is also on the fringe of the Were St precinct and prices $4m, $5m and above show it is well regarded as one of Brighton's better streets.

As well, it's walking to both private school precincts in South Road and the Crescents - is it Brighton Beach primary or Brighton Primary - equidistant from this address.

So location is Brighton A.

Home C and Position A! What about the land. There again it has its plusses and minuses. Good frontage and size and yes some overlooking but plantings can solve that. The issues with the land are some slope and some tapering at the rear - slight detractors from the value of the land but not really deal breakers - we see the land as B.

So really Hanby St is an ABC on its physical characteristics.

So is it a good buy? In our opinion, it could be. Its position is brilliant - so if you are looking for an entry level home of this size in central Brighton and you are happy to live in this home, then say at land value this makes sense - a lot of sense. If you are looking for a premium block to build a new home then it needs more new diligence.

If you sell in the future as is, then buying at land value and selling at land value is about as good as it gets for most residential buyers, as all you need is the market to work for you.