A Portarlington property held in the identical household for nearly 100 years has handed to new house owners.
However it took a four-way post-auction tussle to find out who the following house owners could be.
Nargoondy Park at 462-470 Tower Rd, bought for $1.4m after the 1.82ha property was handed in on a $1.15m vendor bid.
The sale value exceeded expectations by $200,000 as 4 bidders contested the property straight after the public sale, RT Edgar, Ocean Grove agent Brock Grainger mentioned.
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“We handed it in initially after which straight after the public sale I had mainly 4 bidders hanging round and we ended up simply having an little bit of an public sale after the public sale,” he mentioned.
“It was a very good outcome. I had a few guys across the $1.2m mark after which two consumers took all of it the best way to $1.4m.”
Mr Grainger mentioned the younger purchaser was trying to make the house, relationship again to the Eighteen Eighties, his principal place of residence.
“He did rather well. He’s obtained some plans to renovate it and enhance on the present allure,” Mr Grainger mentioned.
The property had been within the one household for near 100 years, having been handed down from era to era, Mr Grainger mentioned.
The final house owners used it as a vacation house.
“Taking care of it as a vacation home was carrying a bit skinny nevertheless it was near his coronary heart. So it was simply time to promote it.”
Mr Grainger mentioned the property’s title apparently was an Aboriginal phrase for “my camp” and there was a heritage overlay defending a part of the unique house, which was thought so far again to the Eighteen Eighties or Eighteen Nineties.
He mentioned the sale mirrored each the extent of demand for way of life properties on the Bellarine Peninsula, but additionally consumers value sensitivities.
He mentioned greater than 70 teams had appeared on the property throughout the marketing campaign.
“We positively had money consumers there and possibly had one other six that wished me to move it in and put in affords on topic to gross sales.”
Mr Grainger mentioned the sale, signed an hour the property had handed in, was on an unconditional foundation.
“That’s a very good signal it was most likely priced proper on the cash to a level,” he mentioned, given it had a heritage overlay and required work.
“I believe the truth that the property obtained handed in beneath the reserve at $1.15m most likely suggests we have been priced fairly proper and had competitors after the precise public sale.”