Lovely Banks sale tops neighbourhood

THE sale of a modern family home with a purpose-built theatre room and huge outdoor entertainment area has rewritten the record books in a residential pocket of Lovely Banks.

The four-bedroom house at 3 Geraghty Court sold for $700,000, the highest price ever achieved for a standard residential block in the suburb.

Only one other residential property in Lovely Banks has recorded a bigger sale, according to CoreLogic, and that 1200sq m parcel offered double the land size. The four-bedroom house at 3 Silvan Court changed hands for $725,000 in November last year.

Harcourts, North Geelong agent Joe Grgic said the sale price of 3 Geraghty Court was the highest in the neighbourhood.

He said the result reflected the quality of the build and how well the owners had maintained the property.

“Anyone who walked in could not believe its age, it was just an immaculate family home,” Mr Grgic said.

“It had three living spaces, four bedrooms and a great outdoor entertainment area — it was a great all-round property.”

The new Geelong owner beat another potential buyer, who had to sell their house before purchasing, to the punch.

“We had interest from all over,” Mr Grgic said.

LARA

A TORQUAY family has traded the coastal lifestyle for a Tudor-style house on acreage in Lara.

The northern Geelong suburb wasn’t on the buyers’ radar until they came across the renovated five-bedroom house with a swimming pool, spa and outdoor entertainment room.

They paid $1.352 million for the 1.05ha property at 3 Cheddar Court, Lara.

McGrath, Geelong agent Egle Skirdulis said the family wanted more space to raise their children and loved the style of the house.

With the parents commuting to Melbourne for work and the children attending school in Geelong, it also make practical sense.

“They said that Lara was not the first thing that they looked at, it was not something they had thought of before,” Ms Skirdulis said.

“But the style of the home and the property attracted them and they decided to compromise on the location.”

The renovated house blends old world charm with contemporary style and offers three separate living zones and multiple areas for outdoor entertaining.

A large balcony off the living area upstairs overlooks the private swimming pool and spa and there’s another all-weather entertainment space with a bar in a converted four-car garage.

LARA

ACREAGE properties in Lara continue to find favour with buyers moving out from urban Geelong in search of greener pastures.

The new owners of a 1.45ha offering close to Serendip Sanctuary wasted no time pouncing on the sprawling three-bedroom family home.

Hayeswinckle, Lara agent Matthew Ward said they snapped up 65 Constantine Drive, Lara in seven days

They paid $980,000 to secure the property after just one open home.

Mr Ward said the buyers had inspected several other acreage properties in Lara and instantly knew this was the one for them.

“They wanted an acreage property and the fact it was close to the You Yangs just added to it a bit,” he said.

“They are a young couple and they are moving from Geelong.”

The spacious home offers three living areas, including a formal loungeroom, open-plan family room and a rumpus room.

Much of the attraction lay outside with the large paved entertainment area, deck with a spa, dog run with built-in kennels, an 18m x 7.5m shed and open paddocks.

Mr Ward said there was strong demand for Lara properties across the board.

BELMONT

MULTIPLE offers for an entry-level Belmont property on a flexible corner block saw it snapped up before auction.

The buyer paid $480,000 to secure the 752sq m parcel with a three-bedroom house at 70 James St.

Barry Plant, Highton agent Kieron Hunter said a Melbourne investment group was among those vying for the site, which the new local owner plans to rent out initially.

He said the Geelong investor was attracted to the potential to subdivide the affordable site down the track. “It was pretty well priced,” Mr Hunter said. The asking range was $440,000 to $460,000. The property is just off High St, with easy access to the Waurn Ponds Shopping Centre, schools and sporting reserves.

It has a loungeroom, separate kitchen/dining room with sliding doors onto a covered outdoor entertainment area and an updated bathroom.