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Two St Kilda agents have helped “The Block’s” Jimmy and Tam to a staggering million-dollar profit in this year’s rendition of the hit renovation show.
The 1950’s Palm Springs-inspired home sold for a massive $4,256,000 – a staggering $966,000 over reserve.
Delivering contestants Jimmy and Tam the highest sale price over reserve also meant the pair were crowned series winners – netting them another $100,000 in prize money and making them the first-ever “The Block” millionaires.
St Kilda’s Michael Townsend and Josh Sterling were the agents behind the sale of 360A New Street, Brighton: A five-bedroom, four-bathroom home that boasts a double garage and pool.
McGrath’s chief auctioneer, Scott Kennedy-Green, was responsible for the property’s auction, and therefore, the eventual sale price that was almost a million dollars over the reserve.
He praised the “premier” position of the home, noting its two street frontages and rear-lane access: “It was definitely a superior product across the board with a special renovation and attention to detail that made it a standout,” he commented.
He considered the sale “a testament that well-presented properties will always have the edge”, especially given the recent challenges facing the Melbourne market thanks to the COVID-19 pandemic.
“Selling to the only owner-occupier of the current Block series, the property outclassed its competition,” the auctioneer concluded.
From the perspective of the St Kilda-based agents, marketing a property such as the Brighton offering during COVID-19 was a “challenging” prospect.
Mr Stirling said they were very nervous as to the impact COVID could have had on the eventual sales of all properties on this year’s series: “But we were confident that the standard of this year’s houses was the best in the three years we have been involved with The Block, and this result shows that quality will always prevail.”
“Jimmy and Tam were passionate about their renovation and our ultimate purchaser fell in love with what they created,” he continued.
Mr Townsend added that the lockdown meant the pair had to focus on one-on-one buyer inspections – a silver lining in many ways, as “this helped us totally target buyers and personalise our interaction with them”.
“The competitive bidding at ‘The Block’ auction clearly demonstrated the confidence in the Melbourne market, particularly the Brighton bayside market, for both investors and owner-occupiers.”
McGrath founder and executive director John McGrath said it had been a pleasure to have represented Jimmy and Tam.
While considering the overall standard of all houses produced on “The Block 2020” as “extraordinary”, Mr McGrath said, “We felt Jimmy and Tam produced one of the best renovations in the history of The Block, and well-deserved winners.”
“We’re absolutely delighted to be involved again with ‘The Block’, which has gone from strength to strength every year since its inception,” he added.
It’s the second time in three years that the St Kilda team has delivered a series win to contestants of “The Block”, and the seventh time McGrath Estate Agents has been involved, with Mr Kennedy-Green undertaking every auction for the group.
All in all, it’s the fourth time McGrath has received the top price, and the third time the agency network has been aligned with a winning couple.
ABOUT THE AUTHOR
Grace Ormsby
Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.
