Suburb’s $800k dump
A GRAFFITI-riddled abandoned cottage in the heart of Geelong’s booming property market could be an $800,000 eyesore.
The dilapidated house on a 728sq m block of land on Elizabeth St in Geelong West is covered on all sides in graffiti tags, has all windows and doors boarded up and is believed to have been left vacant for more than a decade.
But with Geelong West’s median house prices almost doubling in that time, the absent owner could be sitting on a pot of gold, albeit an unsightly one.
Hodges Real Estate agent Marcus Falconer said the corner block property could be worth almost $1 million under the hammer.
“It’s got to be worth somewhere between $700,000 and $800,000,” Mr Falconer said.
“It’s been in that state for as long as I remember, certainly at least 10 years.
“It’s a blank canvas really, so whoever currently owns it either doesn’t need the return or has got some greater long term plans.”
Mr Falconer said the property market in Geelong West was booming.
“It’s without argument that Geelong West is the most popular suburb available,” he said. “This is where they want to be.”
Neighbours labelled the house an “ugly eyesore”, but revealed a mowing service tended to the lawns about once a month, while rumours suggested the house is a deceased estate.
One neighbour said there was concern an unwanted apartment development could spring up at the site.
“It’s not pleasant to look at,” said one neighbour, who asked not to be named.
City of Greater Geelong acting director planning and development Joanne Van Sla- geren revealed the owners had been contacted to fix the eyesore.
“The City has received previous complaints regarding this property and our environmental health team is currently following up the most recent of these with the property owner,” she said.
“In January, the owner advised that they were getting the graffiti painted over. As this was not done, a notice to comply was issued along with fines for offences against the local law. Our environmental health team is continuing to follow up to encourage compliance.”