Richmond eyesore property for sale again

By Janet Spencer

336 Burnley Street is on the market,  a Richmond eyesore property for sale again.

Currently listed with Haim Real Estate, the home is on approximately 777 square metres of land in the sought after Melbourne suburb. This is the third time in four years the property has been offered for sale.

The unsightly and very run down house was apparently suited to redevelopment.  It sold in 2012 for $1,621,000 and again in 2014 for $2,544,000.  Wow, that is capital growth!

The Age newspaper in Melbourne recently report that “Plans and permits have been approved to develop four townhouses on the allotment, one of which has to incorporate the 135-year-old house.   But, again, the homes were never built and the rotting home is back on the market, this time for $3 million.  If it is sold at this price, it would net the Vendors $22,800 for each month they had owned it.”

To discuss how this may impact your property sale of purchase and for independent advice on buying or selling real estate, contact Buyer Solutions +61 3 9816 8555 or email jspencer@buyersolutions.com.au

Buyers Advocate