![\"Wes](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/03\/62260e856e5deacf47c16645e58a88f9513fb355be454aa2a0088a6dfde3d44d.png\")
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August 15, 2026 \u2014 1:53pm<\/p>\n
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Remove items from your saved list<\/a> to add more.<\/p>\n AAA<\/p>\n A luxurious two-bedroom apartment in a converted Melbourne mansion built in 1887 sold for $975,000 at auction on Saturday, $125,000 over its reserve.<\/p>\n Overlooking Albert Park on a busy city arterial, 54 Queens Road<\/a>\u2019s spacious interiors have been home to wealthy families, a reception centre and \u2013 for more than 50 years \u2013 part of the Victorian headquarters for the army, before being converted into a block of six apartments 18 years ago. Apartment M6 was for sale for the first time since that conversion.<\/p>\n The property features high arched double-glazed windows, soaring ceilings and the small complex\u2019s only open balcony \u2013 accessible by window \u2013 with views onto the park and the building\u2019s manicured gardens. It had a price guide of $800,000 to $880,000 and a reserve of $850,000.<\/p>\n Ray White Southbank auctioneer Lachie Kelly held the auction in the gardens, with about 50 people crowded onto its lawns. Bidding opened at $780,000, and an investor then took it to $800,000.<\/p>\n From there, Kelly guided bidding up in $20,000 and $10,000 increments from three competitors, pausing at $840,000 to check with the vendor. The property was declared on the market at $850,000, and as the price passed $855,000, a fourth bidder \u2013 a buyer\u2019s agent \u2013 jumped into the fray, pushing the price up to $880,000 in one swift move.<\/p>\n The investor countered with a $5000 bid, but the buyer\u2019s agent continued to go up in $15,000 and $10,000 increments, eventually exhausting the investor\u2019s budget.<\/p>\n The agent\u2019s clients had recently returned to Melbourne after 30 years living in New York.<\/p>\n Lead agent Tommy-Lee Davies, from Ray White Southbank, said the vendor had held the property as an investment, never setting foot inside.<\/p>\n \u201cIt\u2019s very rare,\u201d he said, noting that of the six apartments in the building only three had sold during the 18 years since it had been converted.<\/p>\n \u201cSome buyers just don\u2019t really want to wait for that next opportunity to buy one,\u201d Kelly said.<\/p>\n The Queens Road property was one of 582 scheduled to go to auction in Melbourne this week.<\/p>\n In Brunswick East, a four-bedroom double-fronted Victorian on a quiet backstreet sold at auction for $1,505,000, more than $50,000 above its reserve.<\/p>\n The white weatherboard house at 62 St Phillip Street<\/a> features updated interiors and large gardens at the front and rear, with decking, undercover entertaining areas and rear laneway access to a sealed carport and separate laundry.<\/p>\n The property had a price guide of $1.35 million to $1.45 million, and a reserve of $1.45 million.<\/p>\n Ray White Brunswick agent and auctioneer Jamil Allouche said bidding had opened at $1.3 million, which was quickly countered by a $50,000 jump to take it to $1.35 million.<\/p>\n From there, Allouche said, it was a \u201cquick succession\u201d of $10,000 increments, which he thought knocked some potential bidders out, although four competed.<\/p>\n Once the property was declared on the market at $1.45 million, bidding slowed to $5000 increments, Allouche said. But after \u201ca bit of a final flurry\u201d between two bidders, the property sold to a local couple.<\/p>\n Related Article The home had been owned by the same family for a generation, and the vendors sold because their children were now moving out.<\/p>\n \u201cI\u2019m seeing a bit more activity on the ground compared to what it was two months ago,\u201d Allouche said, while acknowledging the market was still tough going into spring<\/a>.<\/p>\n In Williamstown, a two-bedroom brick home tucked behind a high fence in a coveted pocket sold at auction for $985,000, with three bidders helping it rocket $85,000 above its reserve.<\/p>\n The light-filled, updated home at 9 Smith Street<\/a> is just a short walk from Williamstown\u2019s Esplanade and rock pools. It had a price guide of $850,000 to $900,000, and a reserve of $900,000, for an area described by Compton Green agent Gerard Hannan as \u201cthe pinnacle of the inner west\u201d.<\/p>\n \u201cYou\u2019re surrounded by $5 million homes,\u201d he said. \u201cYou don\u2019t need the $5 million price tag, and you get that lifestyle where you can just walk to the beach.\u201d<\/p>\n Bidding opened at $850,000, and three active bidders \u2013 two young couples and a downsizer \u2013 bid quickly and competitively in increments of $10,000 and $5000. It sold to a young couple moving back to the area in which they grew up.<\/p>\n The vendor sold on behalf of her mother, who recently moved out.<\/p>\n Hannan said it was difficult to read the market, but well-placed houses at the right price were still selling.<\/p>\n \u201cIt\u2019s almost like a four-speed economy right now,\u201d he said. \u201cThere are certain properties I can\u2019t give away<\/a> and others that are doing extremely well.\u201d<\/p>\n Save<\/p>\n You have reached your maximum number of saved items.<\/p>\n![\"Auctioneer](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/08\/d9780ce10cbd850d28a07be94c547b7e001d1fdb.jpeg\")
Auctioneer Lachie Kelly looks for final bids as M6\/54 Queens Road rockets over its reserve.Chris Hopkins<\/p>\n![\"The](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/08\/280250c3f2b6b5d8e589f132ed9ec1ae8c7ef241.jpeg\")
The historic mansion details included soaring ceilings and tall arch windows, which let in sheets of light even on a wintry Saturday morning.Chris Hopkins<\/p>\n![\"The](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/08\/5d9479f54a4ba311df4eb6fb82e67bba24fb8a29.jpeg\")
The gardens, decking and secure carport were all drawcards for potential buyers.Ray White Brunswick<\/p>\n![\"Property](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/08\/07a9ae66917c3b1fad6798a31a686e58863a17cc.jpeg\")
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