Historic beach buy
A FEDERATION era house that’s sold for the first time since it was built in 1908 has become another multi-million dollar sale above Geelong’s Eastern Beach.
Agents closed the deal last week to sell Vailima, the fourbedroom house at 26 Eastern Beach Rd, for the first time, ending a family’s 110-year association with the city’s waterfront.
Wilsons, Geelong agent James Wilson said the sale would remain confidential, though he revealed a family had bought the house.
The 760sq m property west of Swanston St was last listed with price expectations of $3.5 million.
“We had good interest and multiple submissions on the property,” he said.
Mr Wilson said the sale underlined that Eastern Beach remained Geelong’s home for premium waterfront property.
“There’s definitely some great spots through Western Beach but the history is really with Eastern Beach Rd,” he said.
“When you’ve got Geelong’s best residential property in Corio Villa there and the quality of them and the proximity to the promenade and yacht club, it’s a great northerly view right up the bay.
“A lot of value is carried in the land component through there purely for that outlook,” he said.
In recent years the property had operated as a combined bed and breakfast, when it was divided into a private residence and an apartment.
The house is the second to sell in April on the strip that for many years has been dubbed Geelong’s millionaires’ row.
A 1920s brick house at 48 Eastern Beach Rd sold for more than $4 million in another confidential settlement. It had been on the market for $4.685 million.
Corio Villa holds Geelong’s record house price at $5 million. It last sold in 2012.