Hampton Residential Record – A Closer Look

COMMERCIAL
02-Feb-2018

At the end of 2017, Melcorp Commercial closed a deal as fit for champagne cork-popping and fireworks as any New Year’s bash. The cause for celebration? Setting a record for residential real estate in Hampton.

The property – 43 Crisp St. – hosted an expansive family home on 1652 square meters. At triple the size of the average Hampton block, this standout property was expected to fetch a noteworthy sum.

Melcorp Commercial’s Paul Jones had a bigger goal.

 

Breaking Records

While price details remain confidential, Paul Jones was able to confirm that the property was sold within the previously quoted range of $8 million - $10 million.

Off-market interest from developers inspired the vendors to place the property on the market. Melcorp Commercial applied their skills and expertise to make a sale that establishes a higher ceiling for the suburb.

According to data from CoreLogic, 43 Crisp Street’s sale now takes the record from previous holder 31 Holyrood Street which sold for $7.8 million in 2016.

Hampton History

Hampton was home to market gardens in the mid-1800s. It grew to be a place of respite and revelry due to its beautiful bay and proximity to beaches.

Originally known as Retreat, after the Retreat Hotel at Picnic Point, the area came to be called Hampton following the name of the beach and other landmarks – all named in honour of local market gardener Dyas Hampton.

Garden market subdivision in the 1930s gave way to rapid development. From there, the locale grew into the Hampton we know today.

Suburb Stats

  • Established: 1850s
  • Population: 13,391
  • Size: 4.0 km²
  • Distance: 14 km from Melbourne
  • Postcode: 3188
  • Median Age: 42
  • Median House Price: $1.9 million +

A Modern Marvel

Today, Hampton is known for its boulevard of shops, panoramic views and beautiful surrounds. Beachside verdancy gives rise to coastal cliffs complemented by eclectic fine dining and all the metropolitan amenities we expect from a premiere Melbourne suburb.

Highly sought after, Hampton properties receive roughly 46% more visits per site than the Victorian average.

Hampton’s median house price of $1.94 million places it as one of the top suburbs in Victoria.

Luxury & Lifestyle

43 Crisp Street was bundled with a town planning permit allowing for a development that will be as sensible as it is sensational. The property is authorised to host a three-storey building with 20 exquisite apartments.

This luxe offering will place future residents in a location of comfort and convenience, with the following situated within 1km of the property:

  • Hampton Beach
  • Hampton Station and Sandringham Station
  • Trevor Barker Beach Oval
  • Hampton Tennis Club
  • Hampton Primary, Sandringham Primary
  • Sandringham Yacht Club
  • Supermarkets: Coles and Woolworths

Time, Place & Proficiency

An enviable location, expansive size and amenities such as a swimming pool and tennis court made the home a head-turner. The pre-packaged town planning permit for 20 two and three-bedroom luxury apartments made it a dynamic opportunity.

Melcorp Commercial’s Paul Jones made it a chart-buster.

43 Crisp St. now holds the record for residential real estate sales in Hampton. For a property that sold for $67,500 in 1975, that’s more than a 10,000% increase in value over 4 decades.

What records will Melcorp Commercial break next?

Are you looking for a team that will exceed your sales expectations?

Contact Paul Jones at 04 88 779 749 for more information.


 

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