161-year-old South Yarra church conversion listed for $1.19m-$1.3m
Behind the austere facade of this 161-year-old bluestone church in Melbourne is a chic home with a price tag that’s bringing out the buyers.
The designer conversion at 1/435 Punt Road, South Yarra, has been listed with hopes of $1.19 million to $1.3 million – the sweet spot for young professionals chasing a coveted inner-east lifestyle.
Over three bright levels, with three bedrooms and two bathrooms, the property is well-known to locals, standing prominently on one of Melbourne’s best-known main roads.
Twin turrets, leadlight windows, timber-lined cathedral ceilings, columns and generous proportions reflect its history as a Wesleyan Church, built in 1864.
The church was carved into seven dwellings in the mid-1990s.
“We’ve had really good interest in this one,” agent Michael Tynan of Biggin & Scott Stonnington says. “It is iconic. Everyone who drives past it knows the building.”
Tynan says younger buyers have mainly been in the hunt. Downsizers have been less in contention because of the multilevel floor plan.
“For young professionals, and young families, to get this kind of accommodation, especially at the price point, it’s really good value,” he says.
The property was renovated about three years ago, when the vendors bought it.
The new-look interiors include a crisp kitchen with stone benches and a breakfast bar, a large, open-plan living and dining zone with blonde wood floors, a hotel-style main-bedroom en suite with dual vanity and heated floors, and ambient, accent lighting throughout.
The vendors are from New Zealand, and the property has been a much-loved base for their children while they were studying at university. It has served its purpose, and they are ready to sell, Tynan says.
The address is zoned for South Yarra Primary School, which has pulling power in the market.
“It is something people are drawn to when they are purchasing in the area,” Tynan says. “They make sure that they’re in that catchment zone. It has sway, especially with young families, or young professionals looking down the track to start a family.”
The property goes to auction on September 6, on the books of Tynan and his colleague Adrian Feranda.
Tynan says interest rate cuts this year have reignited confidence and urgency in the market.
“There’s also the talk of interest rates coming down further, so buyers are saying, ‘Well, we’ve got to get in now, or we may pay a better or a higher price,’” he says.
South Yarra has long been an attractive suburb for its restaurants, nightlife, proximity to the city, the Yarra River and the Royal Botanic Gardens.
Toorak Road is buzzing with young people living in apartments, and Chapel Street remains one of the iconic boulevards of Melbourne.
Some of Melbourne’s landmark homes are located in South Yarra, where the record house price of $36 million was set on Marne Street in 2018.
The benchmark is being challenged by a current $38 million mansion listed at 28 Marne Street, in the verdant Domain precinct.
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This elegant family home has two major design names attached to it – original architecture by Wayne Gillespie, and a custom update by Rob Mills.
A cool warehouse conversion is hard to find in South Yarra. This stunning example has a New York feel, metres from Chapel Street and Toorak Road.
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