Buyers wise as builders pounce

FIRST-home buyers wise for ordering building reports left two seasoned renovators to vie for a flood damaged Grovedale property at auction.

The 733sq m property at 8 Sturt Court, Grovedale, sold under the hammer for $393,000 on Saturday.

Ray White, Highton agent Adam Natonewski said the three-bedroom house at 8 Sturt Court had significant defects as a result of the flooding.

He said the damage to the property, quoted with a $370,000 to $407,000 price range, proved insurmountable for the younger buyers.

But two experienced builders could see the potential of the 733sq m block and the old school court location.

“They were fighting it out taking into account all the architectural reports and the money that needs to be spent on it,” he said.

“Both were interested at the right price range, taking into account what they could sell for and any profit they could make.”

LARA

OWNER occupiers lined up to buy separate units at the weekend.

The two-bedroom homes at 1 and 2/6 St Anthony Court were auctioned in front of a handful of people, each attracting one bidder.

The front property was passed in for $310,000 and sold after auction for $318,000.

The second unit, which had about 100sq m more land on its title, sold under the hammer for $330,000.

Auctioneer Graeme Taylor said the properties had their own titles, sharing the driveway as common property.

“At the end of the day, what was the main attraction there was their location and their price range,” Mr Taylor said.

GEELONG WEST

A COUPLE is trading North Fitzroy for Geelong West to get closer to work in the CBD.

The buyers secured a renovated single fronted weatherboard cottage at 50 Wellington St in negotiations after the auction.

The house, which had been renovated five years ago, was contested by two parties before it was passed in for $700,000.

McGrath, Geelong agent Will Ainsworth said talks advanced the price to the $722,000.

“The two ladies are moving down from North Fitzroy, wanting to have a base in

GEELONG

A DOCTOR showed nerves of steel waiting to the last minute to make a play for a twobedroom Geelong unit on Saturday. Dr Adrian Teo, pictured with mum Lian, was scouting for a home close to Geelong’s University Hospital ahead of a transfer next year. Dr Teo waited until other bidders exhausted their budgets before making an offer on the home at 5/73-75 Maud St, which sold for $441,000. “I work in Melbourne and I’ve been transferred here next year,” Dr Teo said. “I need a place to stay for my family,” he said. Dr Teo was the fourth bidder for the unit, which is located at the rear of a large complex close to the city’s hospital precinct. McGrath, Geelong agent Ross Bywater said before the auction he had six bidders for the home. Geelong. This suited their requirements, as it was close to Geelong train station and they could lock up and leave.”

The property is just behind the retail and cafe strip on Pakington St.

NEWCOMB

BUYERS of a three-bedroom Newcomb house have secured an investment of sorts.

The couple paid $436,000 for the brick veneer house in the shadows of the Bellarine Village shopping centre at auction on Saturday.

The buyer said the purchase was planning ahead of the impending retirement of his partner’s parents, who were looking at moving to Geelong.

Maxwell Collins, Geelong agent Duncan Skene said the property was in an ideal location.

“You’ve got the Geelong CBD a short drive away with the restaurants or where you might work, or you might want to stay right here with a major shopping centre around the corner with all the facilities you require.”

Bidding kicked off at a hopeful $320,000 before Mr Skene hurried things along with a $380,000 vendor bid. He said the property was on the market when the price hit $431,000.

HIGHTON

AS addresses come, this Highton home is about as exclusive as it gets.

The three-bedroom house at 5 Connemara Close is the only one in the street, a link between Clydesdale Way and Highland Way.

It shares views across with the neighbours across the suburb to the centre of Geelong.

Buxton, Highton agent Tony Moorfoot said two bidders contested the property at auction on Saturday when it sold for $620,000 under the hammer.

“As I said at the auction it’s an exclusive address as they have the street to themselves because there’s only one house in the street,” Mr Moorfoot said.