Unliveable East Geelong home sells $165K above reserve

12 Tully Road, East Geelong bought for $165K above reserve at Saturday’s public sale.

An unliveable East Geelong home has bought $165K above reserve as its land worth on the town fringe shone via.

Builders on the lookout for a block led the cost on the dilapidated three-bedroom residence at 12 Tully Road.

The 419sq m property bought for $645,000 after competitors from two bidders pushed the outcome above $460,000-$480,000 value hopes.

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Maxwell Collins, Geelong brokers Shaun and Eugene Carroll on the public sale.

The kitchen has seen higher days.

Maxwell Collins, Geelong agent Shaun Carroll mentioned the client was a neighborhood builder who deliberate to demolish and construct a home for himself.

Bidding opened at $440,000 however it took virtually one other 40 bids for the hammer to fall.

Mr Carroll mentioned he did have a few Melbourne consumers fascinated about renovating the home however mentioned it was prime for a knockdown rebuild.

Set on two titles, it has the added attraction of facet driveway entry.

The placement was the large promoting level.

“There’s no easement, no heritage overlay, only a bundle of scope,” Mr Carroll mentioned.

He mentioned Tully Road was a unbelievable location, with Richmond Oval across the nook, and Kardinia Park, the Japanese Gardens and the CBD shut by.

“The homeowners mentioned rising up as youngsters they’d stroll in all places,” he mentioned.

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