Renovation pays off: Kedron home sells for almost $1.2 million at auction

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A transformative renovation has paid off big time for the owners of a Kedron home after it sold at auction for almost $1.2 million.

The renovation certainly impressed buyers, with 60 groups inspected the property at 50 Mellor Street throughout the selling campaign and 11 registering to bid.

A crowd of about 50 showed up to watch the morning auction, many of them neighbours keen to see the result.

Bidding started at $950,000 but quickly rose over $1 million, and with a rapid exchange of bids the property sold for $1,197,000 under hammer.

Selling agent Sonya Treloar said it was a great result.

“When you get such a popular area and a beautifully renovated home you expect results like that,” she said.

Auctioneer David Treloar agreed and said unique, quality properties would always fetch a higher price.

Seller Tania McAlonan and her husband were delighted with the price.

“I was an emotional wreck this morning,” she said.

“I’m thrilled with the result.”

The couple spent six years and $450,000 on the renovation, transforming the existing two-bedroom cottage into a stunning five-bedroom, three-bathroom residence.

Ms McAlonan said this had been the couple’s first major renovation, and they hadn’t yet decided if they wanted to tackle another large project or do something smaller.

“We were doing it on our weekends, it evolved into a major project,” she said.

They ripped the whole roof off and replaced the tiles with Colorbond, but ended up living under tarps for a week due to storms.

As well as re-roofing the property they raised the cottage, adding downstairs entertaining spaces and bedrooms.

For buyer Gabby Corfe, it was the calibre of the renovation that kept drawing her back to inspect the property.

“Last Saturday, I made the decision [to buy], after visiting for the third time in a row,” she said.

As well as loving the Hamptons-style renovation, Ms Corfe said the quality of the overall build was another attraction.

“They spent equal attention to detail on both levels,” she said. “It’s essentially two homes in one.”

The family of four will move in upstairs, and Ms Corfe’s mother will also move in downstairs, which comes with a separate kitchenette, bathroom and living space.

She said they had also tossed up the idea of buying to renovate or rebuild, however the only changes they’ll make to this home will be putting in a pool where the shed currently stands.

Start of video transcript

Rachel: We’re at 50 Mellor Street in Kedron. The agent is Sonia Treloar and the auctioneer is David Treloar. We’ve got 11 registered bidders and quite a crowd today. So let’s see how this auction goes.

David: Good luck to you. Who’d like to be the pioneer bidder. Start us away where you will buyers.

Bidder 1: David, $955,000.

David: Know your value, you’ve done your homework. Good strong bid. Buyers don’t let that blow you out of the water though. It’s certainly a bold play for the keys. $950,000 the bid’s there, bid an offer at $950.

Bidder 2: $970,000

David: Seventy, $70 now, $70 bid an offer, at $70 it is. At $70 now where do we go from there. $70 the bid, bid an offer at $70 do we say a million. $970 now bid offered. $970,000. At an even $1 million dollars, good bidding, outstanding real estate, a million it is.

Bidder 1: $1,010,000.

David: A million and ten. Ten we’re rolling, tens if you will. $1,010,000 now bid an offer $1,010,000 it is.

Man: $1,152,000 now.

David: One, one fifty two. Doing my job for me sir. You can come to all my auctions. $1,152,000. 52 now. Now you can offer 52, I’ll shout you a coffee how about it? $1,152,000. Second time of calling one million, $1,186,000.

Bidder 1: I’ll give you one more, $1,187,000.

David: Eight seven. 93 it is. 93 now. $1,193,000. $1,193,000 it is. It is going. Sold. Congratulations.

Rachel: There you have it. 50 Mellor Street in Kedron sold for $1,197,000. Thanks for watching the Domain live auction brought to you by ME Bank.