Metropolis escape earns $370K bonus at Geelong public sale

An opportunity to safe a uncommon mixture of a giant property remarkably near central Geelong was not misplaced on 5 bidders who pushed the sale worth of a .49ha property $370,000 above expectations.

The four-bedroom residence at 5 Excessive St, Moolap was snapped up at public sale on Saturday for $1.47 million.

Hodges, Geelong West agent Jeff Begg stated expectations had been lifted within the days previous to the public sale to $1.1 million based mostly on the extent of competitors for the property.

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“There was 5 bidders and regardless that it was near the commercial property, a lot of the consumers had been younger households simply in search of some land,” he stated.

“Sq. metreage within the present market is in sturdy demand. The couple of acreages that we’ve bought not too long ago, the agricultural properties have flown and this one in Moolap was the identical factor.”

The .46ha property provided an up to date four-bedroom home that had been refreshed with double glazed home windows, new carpets and contemporary paint.

“The distributors had simply put a swimming pool in and so they had up to date the kitchen however nothing main. It had a little bit of a facelift,” Mr Begg stated.

“The children can go within the again yard and escape however they’ll’t escape.”

The property provided a four-car carport on the entrance, a big open storage and further shedding and workshops behind the home.

Additionally thrown in was a gazebo, a pond with a Japanese-style bridge and resident bullfrogs, and vegetable gardens and a chook shed.

Mr Begg stated the property generated fierce competitors amongst native consumers.

“There was households coming in from Leopold, Ocean Grove, Belmont. Not a lot inquiry from Melbourne, all native consumers,” he stated.

“There’s by no means a lot to select from (in Moolap) and we had marketed it to the consumers (that missed out) on the opposite rural locations they’d been by way of to let the know that they’ve received an interior metropolis 1.2 acres in Moolap if it wasn’t in your procuring record.”

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