Pang Of Regret For Beachside Spot
The Age
Wednesday May 13, 1998
DAVID SOLINAS believes location is crucial when buying for investment. He had this firmly in mind when buying his beachside penthouse flat in St Kilda eight years ago.
He chose the block at 11 Marine Parade, not only for its view of the bay to the West Gate Bridge, but also the beach across the road, the large oval and park behind, and Acland Street a short walk away.
"The view is beautiful on sunny days and in the twilight," he said.
The two-bedroom flat is unusual because of its rooftop patio area and large balcony.
The flat is one of only six in the block with parking for one car on the title.
"I sometimes feel regret that I am letting go of it, as I get the feeling that maybe the beachfront still has more scope for development and price rises," said Mr Solinas, who is moving to a Victorian house in Brunswick.
He chose to sell the apartment by auction because it created competition and a deadline for sale.
Although he has bought and sold a couple of properties, he always found the process nerve-racking. To choose an agent he attended several auctions to see the types of prices auctioneers achieved.
The biggest decision was whether to renovate before selling. The building had been completely refurbished when Mr Solinas, bought and he decided to leave embellishment to the new owners. The flat was auctioned on May 2.
© 1998 The Age
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