Live opposite Kylie Minogue’s for c$2m
Actress, singer, songwriter – and soon, entertainment veteran of five decades – Kylie Minogue, will get a loose valuation of her historic Cambridge Street, Armadale home, following a successful sale next month of a similar terrace across the road (pictured).
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 lived there until selling in 2008.
What local real estate does Kylie own?
Ms Minogue outlaid $185,000 for the two bedroom Cambridge St, Armadale, house, in 1990.
It has since been retained as an investment – last renting in September 2014 for $550 per week.
Armadale, like neighbouring Caulfield North, Malvern, Prahran and Toorak, has undergone a capital value boom recently.
In early 2015, Cambridge St homes were reported to average $1m-$2 million.
Now some are worth in excess of $3m, agents speculate.
The entertainer – who also moved to the UK in 1990 – lives in a $£16m (then worth A$25m) apartment within the £1 billion One Hyde Park complex at Knightsbridge near Harrods.
In Melbourne, Ms Minogue is understood to stay at Hallwood Halton, in Monomeath Avenue, Canterbury – a mansion with a tennis court and pool which she bought for her parents, unrenovated, for $2.43m in 2001.
Agents speculate that now refurbished home could sell for more than $10m today (story continues below).
And the rest of the family
Kylie’s sister Dannii paid $1.77m in 2010 for a modern family home with a swimming pool in Hawthorn East – also in Melbourne’s south east.
Their parents meanwhile, Ron, an accountant, and Carol, a professional dancer, relocated from the next street (Alexandra Avenue) – a dwelling they since sold.
The family’s commercial real estate portfolio includes offices, storage suites and retail. At one stage it is speculated the group owned more than a half dozen assets on Canterbury’s historic Maling Road shopping strip. They also hold a French Island rural property.
Cambridge Street, Armadale
Jellis Craig’s Carla Fetter and Andrew McCann listed a three bedroom terrace at 27 Cambridge St yesterday, without a price guide – however it is expected to sell for more than $1.8m according to sources. It goes to auction on September 9.
Five months ago, Thomson‘s John Chartres and Tory Resic sold 6 Cambridge Street for $2.7m, the road’s highest price deal and which valued land at $12,500 per square metre.
It had been extended a floor and contains four bedrooms.
Also in March, a house across the road – a much smaller three bedroom terrace at #28 – traded for $1.87m.
Hodges Caulfield’s Andrew Boyce brokered that deal.
