Riverside retreat a hot commodity

INVESTORS have seen potential in Belmont’s river precinct, snapping up a house for nearly $70,000 above expectations.

A $500,000 vendor bid kicked off the bidding for 6 Kardinia St before multiple parties bid for the property with views across Geelong to Kardinia Park. It sold for $698,500 after 56 bids. Ray White, Highton agent Matthew Constantine said the property was in a convenient location with the river, High St, the CBD and everything close by.

“It is the ideal lifestyle location,” Mr Constantine said.

The buyers told the Advertiser they had ties to the Geelong area so decided to invest in it.

They chose Belmont as they liked the location and they plan on renting out the property, pictured below.

The three-bedroom house is on 520sq m of land with two street frontages.

GROVEDALE

A YOUNG family has paid $30,000 above reserve to secure their dream home in the same Grovedale street as their parents.

This will enable them to move out of their parents home after recently welcoming twins.

Hayeswinckle, Highton agent Peter Norman said the buyers of 229 Grove Rd outbid three other parties to secure the home for $770,000.

“It is an awesome family home. They loved the location and the walking tracks behind the house,” Mr Norman said.

The 1050sq m property has a four-bedroom house on it with an open-plan kitchen, meals area and loungeroom, rumpus room, home office and store room or workshop.

A highlight of the property is the heated indoor swimming pool and spa.

BELMONT

DEMAND for a low maintenance lifestyle in a popular Belmont location came to a head on Saturday as three parties bid for a townhouse.

The property at 22 Argyle St passed the asking price of $525,000 quickly and eventually sold for $556,500.

Barry Plant, Highton agent Kieron Hunter said the buyer was local and was planning on moving into the property.

“The buyer liked the property because it was on its own title, was quite spacious and was in a good location,” Mr Hunter said.

“It was a really big two-bedroom townhouse with two bathrooms and two living areas.”

He said there was a lot of demand for this type of property especially from downsizers.

BREAKWATER

THERE is a new record house price in Breakwater just two months after it was last broken.

A local developer has secured 49 Tucker St, above, for $517,000, increasing the record house price by $10,000. The previous record was $507,000 for 51A Tanner St.

McGrath, Geelong agent Egle Skridulis said there were two parties bidding on the property with the local buyer planning on developing the 876sq m site down the track.

“It is leased until 2020 so it suits the developer, they will be able to do all the planning things while good tenants look after it,” Ms Skridulis said.

She said the long-term lease did deter some buyers wanting to live in the property.

The property has a four-bedroom house on it with a side driveway.

BELMONT

THE number 18, considered lucky in China, played a big part in the sale of a Belmont property to a local Chinese investor.

The buyers outbid three other parties to secure 18 Tanunda Grove for $580,000.

Hayeswinckle, Highton agent Peter Norman said the buyers were attracted to the property, below, because it was number 18 but also because of the way it was facing.

“It has a north-facing backyard and there are walking tracks nearby,” Mr Norman said.

The number 18 is considered lucky in Chinese as its pronunciation is similar to another word that means ‘definitely get rich’.

Mr Norman said the investors would be able to rent out the 659sq m property with fourbedroom house for about $430 per week.