Griffith home sets suburb record by $750,000

A four-bedroom home at 13 Bass Gardens in Griffith has set a suburb record on Saturday at a swift and competitive auction that pushed the price to $4.05 million.

The previous suburb record of $3.3 million was set in October 2019 for the sale of 12 Bremer Street, with the new high surpassing the previous one by $750,000.

According to Allhomes figures, the property was last purchased in 2010 for $1.26 million.

The campaign was spearheaded by Blackshaw Manuka agent Mario Sanfrancesco, who was also the auctioneer on the day.

Sanfrancesco said the property had a “number of interstate and overseas inquiries”, with 118 groups inspecting the house. In the end, a young family outbid the three registered bidders.

“A couple of those interested parties had a fairly good run at trying to buy the property, which saw a reasonably competitive bidding process,” Sanfrancesco said.

While Sanfrancesco declined to comment on the final price, Allhomes understands the property sold at auction for $4.05 million.

Set on a 1207-square-metre block, the renovated home with its original facade and contemporary spaces was a big drawcard for buyers.

Sanfrancesco noted that the vendors had revamped the property six years ago with Terry Ring of Architects Ring & Associates. While they retained the front facade, as is required for heritage-listed homes, the inside of the home sported sophisticated and quality finishings.

“They brought the property back to life for a lifestyle that you would expect in 2020,” he said.

Nestled opposite Bass Gardens, the house features meticulously designed gardens that both complement and provide privacy to the house. Other highlights include stained-glass windows, high ceilings, spacious dining and living areas with an in-built bar, a gas fireplace and striking marble accents.

Outside is an infinity pool and spa which can be viewed from the property’s main living areas, an outdoor kitchen and entertaining area with a motorised Vergola and barbecue area. The surprise feature is the golf putting course on the lower ground floor.

In relation to the market, Sanfrancesco says buyers are purchasing homes with confidence, which he has seen with the number of high-end sales under his belt.

Sanfrancesco was also the agent behind the sale of 30 Mugga Way, Red Hill in November 2019 – the highest-value sale via auction in ACT history.

“I see that this year and certainly in the past few weeks, there’s been a continuation of the healthy activity that we had in the last quarter of last year running into Christmas,” he said.

“The confidence is back with purchasing property and, with the very low-interest rates, it is certainly starting to have an impact on the market.”

According to Sanfrancesco, there is also a “large depth of buyers looking for properties above the $3 million to $4 million range”.

“It’s the largest depth of buyers that I’ve had in the past seven years … a number of them are frustrated that they have not been able to purchase the right property,” he said.

“I think there is a lot of activity happening and it will continue at this pace.”