Apartments in Webb and Co building in Bendigo CBD prove popular with buyers

The Webb and Co building at the corner of Queen and Williamson streets took four years to transform with new developers arriving in 2021 to complete the build.

Since then Ray White Bendigo has taken over the sale of the individual apartments with just two left available since the 15 properties went on the market in March.

Ray White Bendigo senior sales associate Toby Gray said he and fellow realtor Rory Somerville had worked with the developer to sell them quickly.

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"Every apartment is different. They are all two-bedroom and one-bathroom but the shape of them is uniquely individual," he said.

"We probably had more than 100 people through the apartments. They didn't tick everyone's boxes but there is a want and need for central apartments.

"There are other apartments in the CBD but nothing this central and not in an apartment block.

"We attracted a range of people and there has been a 30-30-30 split between owner-occupier sales, long-term rentals and Airbnbs.

"Airbnbs are very popular in that location with everything Bendigo has going on. There will be a very low vacancy rate."

Mr Gray said being able to style the apartments had allowed people to envision how the space could look.

"We change the price ranges and sold a few for more than the sale price," he said.

"When getting people through majority of people need to see how big the spaces were and how they feel with furniture. Each time we styled an apartment, it went very quickly."

The Bendigo residential property market has stabilised in recent weeks following a very busy period through 2021 and early 2022.

"It was difficult to keep up at one stage but it has levelled out to a point where it is more manageable," Mr Gray said. "It's definitely better than pre-pandemic levels.

"The crazy market we came from, where people felt they were going get caught or had a fear of missing out, and we were getting prices that were ridiculous, those prices have levelled out.

"We are still getting great prices but not far above the top of range numbers. People can still achieve a great result. It's normalised now. People should be able to have second inspections.

"But the right properties are flying off the shelves. That's the way the housing market should be."

Mr Gray believes the two apartments left for sale in the Webb and Co building will sell soon.

"Every person has a different feel but one of the last remaining ones is my favourite," he said. "It's on the top floor and has the biggest and best views of all the apartments.

"The other is a reverse design of ones that have sold but it doesn't have corner windows. It faces town hall and has a great living space.

"They're great properties, it just takes the right person."

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