$10m+ Barwon beauty
Gnarwarre gem sets new mark for region’s rural properties
THE sale of a premium Gnarwarre property with Barwon River frontage has set a new benchmark for rural lifestyle sales in the Geelong region.
Six bidders were keen to get their hands on the superb rural holding, Belvedere, circa 1854, at a private, invitation-only auction last week.
HF Richardson, Newtown auctioneer Matt Poustie wouldn’t reveal the final selling price of 160 Kahls Rd, but said it well exceeded the listed price hopes of above $10m.
Mr Poustie said the 192.63ha property sold to a Geelong buyer after competitive bidding from multiple parties.
“It was an incredible aucvery tion,” Mr Poustie said. “This was a very special sale, given the unique nature of the property, with the majority of our genuine interest being locally based, with a focus on a mix of lifestyle and agricultural pursuits.
“An acreage holding with kilometres of Barwon River frontage is truly a rare find, with the added benefit of a
beautiful homestead with extensive countryside views – we felt it was always going to sell strongly.
“The vendors have loved their last 32 years at Belvedere and look forward to passing on the custodianship of this special property.”
Prospective buyers were impressed with the two road frontages, multiple titles and productive river flats on offer.
The circa 1854 original bluestone residence has been carefully renovated and extended to take advantage of the top-notch location and 360-degree views across the Barwon River, Barrabool Hills and countryside.
Grand in every sense of the word, it has loads of living space and storage, including a games room, mudroom and home office.
Outside, there are 11 main paddocks, five dams, planted shelter belts and cattle yards.
Infrastructure includes a wool shed, six-bay machinery shed, five-bay machinery shed and a five-bay workshop/garage.
Mr Poustie said the demand for rural properties had held strong for the past year.
“More and more Geelong and Melbourne-based buyers are looking for space and country/coastal surrounds,” he said.
“While a slowdown over Christmas is likely, we anticipate another bumper late summer/autumn selling period to be ahead of us.”
Earlier this month, the bayfront Bellarine Peninsula farm at 31-99 Spray Farm Lane, Bellarine, sold for $10m.
But, it’s a Barwon Heads property that holds the region’s record, with 2-4 Stephens Pde selling for $10.2m in November 2020.