Lifestyle lures eager buyers

A RURAL lifestyle property on the fringe of Barwon Heads has sold at a $350,000 premium as four buyers contested the farm.

The 16ha grazing property at 1831 Barwon Heads Rd, Connewarre, sold at auction for $1.405 million. The reserve was $1.06 million.

Charles Stewart, Geelong selling agent Andrew Rice said a Melbourne party competed with three local groups for Westward Ho, which was being sold for the first time in 85 years.

“We had a significant amount of interest out of Barwon Heads — it’s 1.8km from Barwon Heads itself,” Mr Rice said.

“It’s been in the one family for 85 years.:

Mr Rice said he took about 43 bids at the auction, which opened at $950,000.

Mr Rice said it had fantastic investment prospects even though there were no development plans for the ribbon of farming land between Geelong’s urban boundary and the coastal town.

“They are going to continue farming. The chap that bought it has a family connection to the area,” he said.

Meanwhile, a Winchelsea property with a rare Barwon River frontage remains on the market after it was passed in at auction on Saturday.

Richardson, Geelong agent Ken McDonald said the 1.96ha property at 110 Barwon Park Rd was passed in at $770,000.

The property, which includes more than 8000sq m under a 99-year Crown lease, has a three-bedroom brick veneer house with a north-facing sunroom and deck and is walking distance to Winchelsea’s train station.

Mr McDonald said a rush of rural property onto the market at the start of spring came after a relatively quiet period earlier this year, particularly during the election campaign. He said there was now strong buyer inquiry.

He said factors had lined up for owners of larger rural holdings to test the market.