A whole street is up for sale in Yarragon after a group of long-time neighbours in Ambrose Court decided to sell up together.
Five homeowners have banded together to sell almost an entire street in Yarragon.
The West Gippsland neighbours are offering up five of the six properties on Ambrose Court for a premium price of $3.135m under one massive listing, hoping to appeal to a residential investor.
The sellers include the owner of an investment property, a family of a deceased estate and residents who’ve been living in the quiet cul-de-sac for decades.
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Yarragon neighbours Barbara Jackson, Catie Johns, Richard Polmear, and Helen and Barry Bates are offering up the unique opportunity to purchase a five homes on the same street. Picture: Mark Stewart
The massive listing features five brick houses.
The vendor of 5 Ambrose Court, Richard Polmear said the owners had discovered by chance they were all interested in selling up.
“We knew the deceased estate would come up one time or another and I had already been considering a move too,” Mr Polmear said.
“But then when I heard the tenanted property was also planning to sell, I thought why don’t we try selling as a court?
“I knew Melbourne neighbours sometimes got together to offer their properties combined for a premium price, and we thought we would see what the market offered.”
The combined offering spans a total of 6100sq m, featuring four three-bedroom homes and one four-bedroom property on a larger block with vacant land, ready for development.
6 Ambrose Court is one of the five properties.
The total land holding spans 6100sq m.
If the vendors achieve their asking price, the sale will soar past Yarragon’s $395,000 median house price, according to realestate.com.au.
Mr Polmear said the impending sale had caused “mixed emotions” for the residents, who had looked after each other’s properties over the years.
“We know that the place is going to change now, but it might be the time for us to move on,” he said.
The houses date back to the 1990s.
The larger block also offers up empty land ready for development.
Elder Real Estate’s Jackie Shearer said the unique listing had already generated some interest in the individual properties and as a group.
“It will be a great opportunity for a residential investor who wants houses all in the one area for long-term capital growth,” Ms Shearer said.
The regional suburb’s median house price had jumped almost 50 per cent in the last five years alone, according to realestate.com.au.
Ms Shearer said the properties offered strong rental returns and a prime location.
“Yarragon has got some strong demand,” she added.
“It just needs the right buyer. We’ve called it a unicorn — it’s something that doesn’t come along very often.”
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