Pre-wedding entry a big result

ENTRY level took on a new meaning in Manifold Heights when a young couple paid $81,000 over the reserve for a home that’s an early wedding present.

Three parties bid on the three-bedroom house at 54 Calder St, with the $700,000 reserve quickly achieved before it sold for $781,000.

McGrath, Geelong agent Will Ainsworth said only one half of the successful couple was at the auction as the other was enjoying her hen’s day.

“It was clearly a desirable property and one you could move straight into and I think that’s why it attracted so many people,” he said.

The brick veneer house, pictured below, with two living areas is on a 672sq m block with a north-facing backyard.

Mr Ainsworth described the house as entry level, though a partial renovation meant it was ready to move in, but more affordable than a full renovation.

EAST GEELONG

AN ENTRY-level property in the East Geelong market was quickly snapped up at auction.

Four parties bid for the two-bedroom house at 10 Paterson St before it sold for $586,000.

Bidding started at $490,000 and the auction lasted 38 bids. One party entered the bidding late but managed to outbid everyone else to secure the property as an investment.

The local couple said the location was the reason they bought the 560sq m property.

Buxton, East Geelong agent Jarrod Leonard said the house with two living areas was in one of Geelong’s premier locations.

“Potential, land and opportunity, this property has it in spades and the growth is still here,” Mr Leonard said.

HIGHTON

A FIRST-home buyer plans to rent out a couple of rooms to mates after securing a fourbedroom house at auction in Highton.

Bidding started at an optimistic $520,000 for 9 Chancellor Place, according to Buxton, Highton agent Tony Moorfoot, before quickly increasing and selling for $650,000.

“It was a great result in a good location. The local buyer plans to move in and live with a couple of mates,” Mr Moorfoot said.

The house will definitely be big enough for a few mates with four bedrooms, two separate living areas and an extensive covered outdoor entertainment area with pot belly stove.

There is also a double garage and man cave under the house on the 913sq m block.

BELMONT

A LARGE property in the heart of Belmont could become the site of a future development should Melbourne developers have their way.

No. 61 Mt Pleasant Rd, pictured above, passed in on a $900,000 vendor bid at auction on Saturday. But Gartland Property, Geelong agent Nathan Ashton said he was now negotiating with a couple of parties.

“The last offer that was declined was around the $900,000 mark,” he said. “I am pretty confident we will be getting it higher this week and hopefully by the end of this week we will be able to get it done.”

“Two of the groups that are looking at it are Melbourne based and looking at developing the site into a three to four-lot subdivision.”

He predicted townhouses would sell for between $600,000 and $700,000 apiece if four townhouses could fit on the 1338sq m site.

NEWCOMB

THE growth in Newcomb continues to skyrocket as a renovated two-bedroom house sold for more than $80,000 above expectations.

Three parties bid on 18 Charlotte Ave, below, pushing the price above hopes of $420,000 to $460,000 to sell for $543,000.

Barry Plant, Geelong agent Craig Casey said a local buyer secured the property.

“They are looking to potentially develop it, it’s going to be up to the council but you could put a unit in the back,” Mr Casey said.

“This result goes to show how impressive Newcomb is in the market place at the moment.”

The 609sq m property is on a corner block and is zoned Residential Growth Zone Schedule 2. The renovated house has two bedrooms, timber floorboards in the open-plan living area and it has been restumped and rewired.