59 Devon Street EAGLEMONT

Comments on 59 Devon Street EAGLEMONT

This home is not advertised and has been bought off-market

Let’s start with Position on Devon:
1. It matches where you say you want to be.
2. It is in a highly regarded area (average $persqm v others in the surrounding suburbs)
3. It is close to the infrastructure most want – train, park, shops and so on. 

Property
Land
1. It is exceptionally large for the area.
2. Exceptionally flat over such a large expanse for the area (due to excavation)
3. South orientation which is a negative for light and sun warmth. 

Building
1. This is one of the single largest living spaces we have ever seen
2. The building is extreme in size in all aspects except garaging (that is just big)
3. Its design does mitigate the block orientation with regards to sunlight.
4. Maintenance and cleaning will be substantial – due to its sheer size.
5. It is grand – is it intimate – is that important. 

Price
1. Additional risk will be attached to price due to its record nature and a quick or forced resale in down markets will see it perform poorer than the average.
2. Its growth may not be as good as good investment homes that have a far higher proportion of land value as a % of price paid.
3. It will date – it is not a classic period home – the finishes will lose value over time.
4. As with now the homes genuine uniqueness will see (if well managed) a strong price and return if sold in an appropriate market, in an appropriate buyer to an emotional urgent buyer. 

Having said that our summary is – Contemporary, grand sized entertaining home unlikely to be repeated more than once a year in the area.