Actress, singer, songwriter – and now entertainment veteran – Kylie Minogue, will get a loose valuation of her historic Cambridge Street, Armadale home, following any sale of a similar terrace across the road (pictured), next month.
The unique row contains 32 standalone dwellings which appear almost identical from the front, reportedly built between 1886 and 1888 by an investor.
City of Melbourne Lord Mayor Robert Doyle once called Cambridge Street home but sold in 2008.
What real estate does Kylie own ?
Kylie Minogue outlaid $185,000 for her two bedroom Cambridge Street, Armadale, house, in 1990 – the same year she moved full-time to the UK. It has since been used as an investment (reportedly last rented in September 2014 for $550 per week, which was in fact a drop on the $595 it was seeking in April 2012). Armadale, like neighbouring suburbs, Caulfield North, Malvern, Prahran and Toorak, has undergone a capital values boomed recently.
In early 2015, homes in Cambridge Street were reported to average a range of between $1 million and $2 million. Now some would be worth in excess of $3 million, agents speculate.
Minogue lives in a $£16 million (then worth A$25 million) apartment she bought new within the £1 billion One Hyde Park, four-building apartment compex, in Knightsbridge, London, near the Brompton Road shopping strip and retailer, Harrods.
In Melbourne, Kylie is understood to stay at Hallwood Halton, in Monomeath Avenue, Canterbury – a then-unrenovated mansion with a tennis court and pool which she bought for her parents, spending $2.43 million, in 2001.
Agents today say that fully refurbished home, on one of the prestigious avenue’s biggest blocks, could sell for more than $10 million given the red-hot prestige market.
And the rest of the family?
Kylie’s sister Dannii Minogue paid $1.77 million in 2010 for a modern family home with a swimming pool in Hawthorn East – not far from Canterbury or Armadale.
Their parents meanwhile, Ron, an accountant, and Carol, a professional dancer, sold their home near Hallwood Halton in another Canterbury “Golden Mile Avenue” (a description agents and residents use to describe certain streets off Mont Albert Road).
The Minogue family’s extensive commercial property portfolio, which is regularly reweighted, includes in Melbourne, offices, storage suites and retail strip shops. At one stage they owned more than a half dozen assets on Canterbury’s historic Maling Road.
Cambridge Street, Armadale
Jellis Craig’s Carla Fetter and Andrew McCann listed a three bedroom terrace at 27 Cambridge Street yesterday, without a price guide. However it is expected to sell for more than $1.8 million according to sources, following an auction on September 9.
On March 4 this year, Thomson‘s John Chartres and Tory Resic sold 6 Cambridge Street for a $2.7 million (which valued the land area at $12,500 per square metre – a record for the area). This property – believed to be the street’s highest priced deal, included a renovated four bedroom home extended with a second storey.
On the same day, a house across the road – a much smaller three bedroom terrace at 28 Cambridge Street – sold for $1.87 million following a successful auction campaign by agency Hodges Caulfield’s Andrew Boyce.