104 Kemp Street, Hamilton South
An auction in Hamilton South pulled in a huge result on Saturday and set a new suburb record in the process when it sold for $4,050,000.
We spoke with selling agent George Rafty from First National Newcastle City about the result.
The property: A renovated four-bedroom, three-bathroom on a 720 square metre block with high-end finishes and a pool at 104 Kemp Street, Hamilton South.
Agent and agency: George Rafty and Joe Olsen at First National Newcastle City.
What was the auction guide price? $3.5 million to $3.8 million was the guide.
How many registered bidders were at the auction? We had three registered bidders.
Where were the potential buyers from? Two were local and one was from interstate. It was a local buyer who won the auction. They were renting in the area and have been looking for the best part of two or three years and as soon as this home came online they fell in love with it. Throughout the campaign we had around 50 groups through over four weeks.
Was the result of $4,050,000 a surprise? The result slightly surpassed our expectations but we thought that with this house if anything is going to go for $4 million, we could see this house potentially achieve that figure. The vendors created a home where there is nothing left to do. It is all high-end finishes and it looked amazing. It was a great outcome. It's a Hamilton South record for a residential sale and it's a beautiful home that deserves that price.
Why was this property special? Not in any particular order but the block size, the location, the north-facing backyard and the fact there is nothing left to do was the key. You could walk into a beautiful home and not have to do a thing to it. Kemp Street is a sought-after location near The Junction. The fact you had a 720 square metre block north facing and with a pool and such a magnificent home, all of those ingredients put together are the reason it achieved the outcome that it did.
What renovations had been done to the home? The house was completely renovated and it was all high-end finishes. The owners had replaced all of the whitegoods including two Gaggenau stoves which would cost about $8,5000 each to replace. In the garage, it had an infrared sauna and it has been converted into a gymnasium.
How did the auction unfold? The auction was very quiet to start with. I believe we had a vendor bid of $3.7 million within our price guide and then the next bid was $3.75 million and then it went to $3.8 million, then $3.85 million and $3.9 million and then $3.95 million. The next bid was $100,000 which the other party couldn't get to over that $4 million. The last bid basically stopped the auction and they were successful. The vendors are very happy that the people who bought it got it. They actually rang me afterwards and said, 'We are so glad these people have our house'.
