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A renovated Melbourne milk bar sold for $5.1M, nearly $1M above reserve, to a young family.
A renovated former milk bar in Melbourne’s Fitzroy North sold for $5.1 million at auction, nearly $1 million above its reserve, featuring a central courtyard, timber finishes, and modern updates by architects Kennedy Nolan.
Bidding surged past $4.2 million with four young families and a couple in their 50s competing, ending with a young family as the buyer.
The vendors, relocating to Newcastle, plan to repeat their success.
In a separate sale, a nearby Edwardian home with a preserved shopfront sold for $1.13 million, about 15% over reserve, bought by a couple in their 30s.
Auctioneers noted strong buyer confidence despite recent rate hikes.
Un bar de leche renovado de Melbourne vendido por $ 5.1 millones, casi $ 1 millón por encima de la reserva, a una joven familia.