Adrian Bo here. Today I’m talking to you from Fairsky Street in South Coogee. Now, South Coogee was originally born from a large parcel of land known as the Coogee Park Estate that began to be subdivided in January 1883. Even free Tram tickets were offered to attendees and potential purchasers of the lots in the suburb at that stage known as Coogee Park. If you look at the map carefully of the proposed subdivision you will see some street names you recognise, like Pearce Street where 19 lots were sold for example, and Wisdom Street where 27 lots were sold off. However, many of the Street names have changed since that time. For example it appears Napper Street was originally Wood Street, it also appears Bloomfield Street was originally Robertson Street. Malabar Rd was named back then Long Bay Road. Denning Street which is a very highly regarded street in South Coogee at the moment was originally called, of all things, Government Road. The area around Rainbow Street, Garnet Street, Wolseley Street and Cairo Street has largely remained as it was though. Fascinating to see the reference to the fact that all streets are 66 feet wide! This was clearly a very big issue to potential purchasers back in the late eighteen hundreds.

Also, interesting to note typical settlement terms back then for blocks of land sold by auction were a 10% deposit on the day, 15% of the balance due within 3 months without any interest at all then the balance paid quarterly for 3 years at an interest rate of 6%, which would have been quite high back then. Now, that’s quite a sophisticated transaction structure with apparently no banks involved back in the late eighteen hundreds. Within a few weeks of the initial lot sales, another section of the Coogee Park Estate was released encompassing Carr Street, Dudley Street, Arden Street, Long Bay Road and Alexandria Parade. In fact the area was still known as Coogee Park in 1913 when another chunk was sold off around Fraser Street, Long Bay Road, Evelyn Street and Denning Street. Now, back to the modern day! Well, frankly last week-end I was absolutely delighted to sell 125 Fairsky Street were I am today. The sale price was a record of $2.3 million. Now, for that land size, that was a premium in this development known as Endeavour 88, which was developed by a Tier 1 developer being Mirvac back in 2013.

It was a very successful auction with the reserve price being achieved after an extremely comprehensive campaign. During a 30 day period, we had 7,000 web views, 80 groups inspect the home, six contracts issued. Due to my unique social media marketing approach the owners benefited from 40% capital growth since owning the home for only a few years. An identical house at number 39 Fairsky Street sold for $250,000 less only a few weeks ago through another agent. Our marketing campaign building up to the auction simply enabled us to showcase number 125 to many more interested parties, including our genuine buyer database, and my social media strategy that I have built from selling in the area for over 30 years. What a fantastic result with a very delighted buyer and a very satisfied seller. South Coogee is really a lovely area. According to the last census, South Coogee has a population of around five and a half thousand people with 48% of homes being owner occupied, that’s a huge, large percentage of owner-occupiers for an Eastern suburb. The median house price in South Coogee has risen by 13.4% year on year up to now being $2.81 million. Now, that’s a 30% rise over the last five years. Now, I really hope this has been of interest to you. I also have another property in Fairsky Street for sale, which is a five bedroom, a free standing home with a pool, immaculate renovations all the way through. So, if you’re interested in that one, please give me a call. I’d love you to enjoy your weekend. Please enjoy this beautiful spring weather and always remember your home is worth more with Adrian Bo.