Vendors have earned a $1.8m windfall after a stunning renovation of a front row property on the Great Ocean Road.
Local knowledge was key to securing a big price for the Eastern View house that’s among the closest to the high water mark.
Great Ocean Properties, Aireys Inlet agent Marty Maher said the tri-level home with spectacular ocean views sold for an undisclosed price within the $3.4m-$3.7m asking range.
The renovation by GD Construction more than doubled the value of the four-bedroom house at 725 Great Ocean Road, Eastern View, in just two years. It last sold for $1.6m in November 2018, CoreLogic records show.
Mr Maher said the buyers, who already had a holiday house in the area, seized the chance to upgrade their vacation base.
“It’s really common along the front row for people to do that,” he said.
“Eight of the last nine sales along there have been like that.
“It’s pretty tightly held … and those that already own property have the confidence to spend the money because they are already based there and already holiday there.”
Removing a mezzanine floor from the original beach house during the renovation revealed dramatic full height windows that frame views from Lorne to Aireys Inlet’s Split Point Lighthouse.
Mr Maher said the buyers particularly loved the outlook from the open-plan living room, which has raked ceilings and a Chiminees Philippe wood fire.
An inclinator lift was installed to provide easier access to the main level on the steep 1771sq m block.
The property also has a separate self-contained apartment at street level.
Surf Coast interior design studio hygge:liv worked on the project, with a brief to create a contemporary but warm and cosy space that didn’t compete with the natural environment.
Designer Erin Hughes said a minimal palette was chosen to show off the coastal landscape.
“The view is so important you did not want to take away from that because in that living space the windows make it so surreal,” she said.