KNOWN as an alternative to Yarra-ville or Footscray, Seddon usually plays second fiddle when it comes to the property market.
But the area came under the spotlight when real estate agent Hocking Stuart sold 21 Bell Street, Seddon, for $1.16 million.
The bluestone homestead, positioned away from the street, was built in 1874.
It’s restoration included tuck-pointed brown and cream contrasting bricks, slate roof, a heritage verandah and cellars.
The formal lounge has a marble fireplace, full-size chandelier and servant’s bell.
But renovation of the kitchen, ante-room and laundry was advised in the property’s advertising material.
Hocking Stuart’s director Edward Thomas said he had expected the three-bedroom house to sell at a good price.
“We expected to have people interested in the house and for it to sell over the million dollar mark,” Mr Thomas said.
The successful sale of the homestead had the potential to increase the sale of other homes in the area, he said.
“It’s certainly not going to hurt,” he said. “It could definitely assist … the area had had a really good run and a lot of public interest in the last couple of months.”
But Mr Thomas acknowledged there were not many bluestone buildings in the area that could drum up $1 million among investors.
“It is a bit of a one-off property,” he said.
“There is obviously a demand for this kind of property. There’s probably one that comes up every couple of years.”
