The Seekers’ Bruce Woodley’s Elsternwick property finds audience

An investment property owned by a member of 1960s supergroup The Seekers hit a high note as it soared $1.7 million past reserve at auction last week. 

Singer-songwriter Bruce Woodley — best known for cocomposing the nation’s unofficial anthem I am Australian — sold his Elsternwick retail building at 372-376 Glen Huntly Rd for an eye-watering $9.2 million.

CBRE senior manager Rorey James declined to comment on Woodley’s connection to the property, but land title searches show it is owned by Carre Corporation, which Woodley is a director of.

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A local investor bought the corner property, which reaps an annual income of almost $365,000, according to James.

Six bidders vied for the keys of the investment property which reaps an annual income of almost $365,000.

“Buyers were attracted to the position of the building, longstanding tenants and the growth outlook, given all the public and private infrastructure forecasted,” he says.

“To have had six bidders all competing above the reserve price shows the serious depth of buyers in today’s market looking to secure premium properties in good locations.”

Adam Guest, director of conjunctional selling agency Wilson, says it was only the second time the property has been up for sale in more than a century.

“It’s the second time in over 100 years the property has changed hands. It was previously owned by the State Bank and the current vendors sold it after owning it for almost 20 years,” Guest says.

This article from the Herald Sun first appeared as “The Seekers Bruce Woodley’s Elsternwick property hits a high note”.