A highly unusual listing for a property in Brunswick has surfaced with a bang, after being held for 53 years by the same family, and caused a stir throughout Victoria and even farther. The object of sale is a 99-year-old dwelling which consists of two adjacent Victorian cottages, located at 2 and 4 Frith Street, Brunswick VIC 3056.
The auction will be held on December 6, and both cottages will be sold as one because they are on the same title. The recommended price range is between $1.888 million $2 million. The vendor, who will be 100 years old on December 4, is considered to be the oldest landlord in Australia. The cottages in Brunswick have turned into a classic example of landlords holding onto their property for a long time in Melbourne’s north inner area, which is usually hard to buy into.
The cottages’ proximity to Sydney Road, along with the University of Melbourne, makes them attractive to investors as well as families. The story is also indicative of changing property trends in Melbourne, whereby emotionally held homes are now being forced to adapt to the modern market.
A rare Brunswick twin cottage sale ends 53 years of ownership.
How Does This 99-Year-Old Home For Sale Reflect Long-Term Ownership Property Trends?
The sale of the 99-year-old home for sale is a sign that the market for long-term property ownership in the inner suburbs of Melbourne has been shrinking. The Megas family, who initially bought the houses in 1972 after arriving from Greece in 1958, were the last owners.
They had a steady flow of tenants for over 50 years, and most of them were either families or university students. The properties were under the supervision of the same local agent for almost five decades. This is, no doubt, a rarity in the current fast-paced housing market. The family was not looking for high rent; rather, they aimed at getting fair rent, which in turn guaranteed stable occupancy.
Every year, before new tenants arrived, they would paint and refurbish the properties. Such tales are becoming increasingly rare as short-term investment cycles take over the market. This listing in Brunswick is a reminder of the great history of generational housing stewardship.
A Rare Brunswick Property Listing With Deep Emotional Value
Alexandra Megas calls the sale bittersweet because, although the family never resided there, they still cared for the homes. Megas’ parents had seen the cottages as indicators of safety and chance. The vendor, now living in a nursing home, has not cut off the emotional bond that still ties them.
The cottages recently received a makeover in the form of fresh paint, new kitchens, and modern bathrooms. However, the goal was not only to make a good impression but also to continue the care. The family wishes the incoming property owner to appreciate both the estate’s past and its place in the community. Thus, the sale has turned out to be more than just real estate, as it marks the end of 53 years in Brunswick’s housing saga.
Megas calls the sale bittersweet as emotional family ties endure despite absence.
What Makes This Long-Term Ownership Property A Strong Investment Opportunity?
- The property with long-term ownership provides an opportunity of dual investments through two distinct cottages.
- Every cottage consists of two bedrooms, an open-plan kitchen, a living room, a dining area, and a private yard.
- The comprehensive listing mentions four bedrooms, two bathrooms, and one parking space.
- Earlier, both houses were able to generate rental returns of around $700 per week each.
- The arrangement guarantees strong demand from investors who are looking for dual income streams.
- It is also perfect for living with multiple generations of families, with the option of privacy and closeness.
- One title ownership gives the chance for future redevelopment, subject to the approval of the council.
Strong Market Position Within Brunswick’s Property Landscape
Brunswick, the suburb, does not hesitate to show its strong points of lifestyle and connectivity, thus continuing to draw buyers’ great interest. The median house price being $1,227,500, established by the most recent Domain House Price Report, reflects such a scenario.
The advised range of $1.888 million to $2 million is in line with the premium heritage stock. The site is well accessible to the tram network, culinary delights, theatres and other cultural venues.
The demand for properties in Brunswick is mainly due to the suburb’s popularity with professionals and students who, as a consequence, are contributing to both owner-occupier and investment demands. This Brunswick listing is in line with the growing interest in heritage properties that provide character and future flexibility.
Brunswick attracts buyers as the median price reaches $1,227,500.
Will This 99-Year-Old Home For Sale Become A Multigenerational Haven?
Agent Lisa Roberts from Belle Property Carlton considers the homes to be ideal for multigenerational living. She points out the possible scenario of parents staying on one side and grown-up kids on the other. The arrangement keeps the privacy of both sides while still allowing for close family intimacy.
Such housing configurations are gradually becoming the solution to the rising housing problem across Melbourne. The duplex-style layout also appeals to investors or buyers who are looking for dual occupancy investment strategies.
The auction scheduled for December 6, which is two days after the vendor’s 100th birthday, is already emotionally loaded. The family envisions the final sale to be a monumental gift that symbolises a century of resilience and care, thus marking it as the milestone gift.
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FAQs
Q1. What are the distinguishing features of this Brunswick property listing?
Two Victorian cottages have been held by one family for 53 years and are being sold by a 99-year-old vendor.
Q2. What is the suggested price range?
The properties have a listing price of $1.888 million to $2 million.
Q3. Would investors be interested in this 99-year-old house for sale?
Definitely, the two cottages were rented at around $700 each per week earlier.
Q4. Is it possible to use the property as a multigenerational house?
Absolutely, the two cottages are designed to accommodate multigenerational or dual living arrangements.
