Auction results hit the Heights
THERE has been a bit of activity in suburbs close to train stations recently and now it appears that’s extended to suburbs with proximity to the Geelong Ring Road.
Some positive signs have come out of Hamlyn Heights in the past fortnight, with a couple of properties within 500m of each other finding new owners.
Firstly, 123 Vines Rd was sold by Owen Sharkey, of Graeme Taylor Estate Agents, for close to $370,000 before auction.
Then a Harcourts-listed property at 100 Ballarat Rd was snapped up under the hammer for $330,000 last weekend.
In both cases, the buyers indicated that they would look to develop.
Mr Sharkey said the three-bedroom home on Vines Rd had been the focus of developers throughout the campaign.
“That one sold prior to auction to a Melbourne buyer and they’re going to rent it out and develop it,” he said.
“I’d say they’d look at subdividing it and maybe putting a few units on it or something along those lines. Most of the interest came in on that front.”
Shane King, of Harcourts, North Geelong, said the first time he saw the buyers at Ballarat Rd was on auction day.
“That was the first time I saw them on the day, which is not uncommon for developers,” Mr King said.
“The developer doesn’t need a whole lot of information from us, they can see the site and get their own reports that they require, and the developer doesn’t really care about the condition of the house the majority of the time.”