Early start pays off
MAKING a dawn trek from Portland to a Hamlyn Heights auction has paid off for a Western District family who snapped up a hotly contested property on Saturday.
Two generations of Mark Peters and Rachel Stoneman’s clan will reap the rewards after the couple beat three bidders for the keys to 24 Glenfine Ave.
They paid $744,000 for the updated three-bedroom house on a 871sq m block, which their Geelong-based son Mitchell Peters will live in.
The result beat price hopes by more than $70,000 as multiple buyers saw value in the corner allotment with permits to construct a second dwelling.
Ms Stoneman said the block’s long-term flexibility made for an attractive investment, which would provide a base for their son in the meantime.
“We’re from Portland and we got up at 6am this morning to be here,” she said. “Mitchell moved down in August and we have been looking since about December.”
Buyers’ advocate Tony Slack bid for the property on the couple’s behalf after Maxwell Collins auctioneer Shaun Carroll took an opening bid of $650,000.
The competition whittled down from four to two when the price passed $715,000.
Selling agent Laura Vander Noord said she expected the current planning permit to build a second dwelling in the large backyard to attract developers.
But it was owner-occupiers who showed the most interest during the campaign.
The updated house has two spacious living areas with a north-facing aspect, bay glimpses and access to a covered outdoor entertainment area.
The three bedrooms are serviced by a renovated central bathroom.