A COWES’ property, described as ‘a rare find’ and a ‘memory maker’ by O’Brien Judith Wright Real Estate auctioneer, Stavros Ambatzidis, when he put the premium location on Lovers’ Walk up for sale on Saturday, January 27 was nonetheless passed at a final vendor’s bid of $4 million.
MORE than 120 people turned out at the eagerly anticipated auction on site at 5 and 7 Charmandene Court, Cowes, a property on two titles, with two houses spanning approximately 1698 square metres with north-facing frontage to Western Port Bay, a short stroll from town.
However, while there was a significant amount of interest prior, and on the day, including possible buyers on the phone, there were no public bids and it was left to Mr Ambatzidis to make the play with an initial vendor’s bid of $3.8 million, inviting $50,000 rises, but there were none.
“I’ll start the bidding at $3.8 million. Who wants to take it up? There should be a Mexican wave of hands go up at that price. This is about the time when you’d like to see a few flies buzzing around.”
Mr Ambatzidis had said earlier that the Lovers’ Walk area of Cowes was the most tightly held in the town, with good reason, offering the opportunity to take a short stroll to the hustle and bustle of town, or stay home away from all that right on the beach.
“The last time this was offered was in 1979, and I’d expect the Collingwood and Carlton supporters to remember the VFL grand final that year, when Wayne Harmes famously knocked the ball back into play for Ken Sheldon to kick the winning goal.”
For the record, Mr Ambatzidis is a Richmond supporter.
But, still there were no hands, and he ultimately passed it in with a further vendors’ bid of $4 million.
However, it seems likely that the property will sell within days.
Principal of O’Brien Judith Wright, Greg Davis, said there had been four offers made after the auction which were “close to the reserve” and he expected to conclude a sale within days.
