A rare chance to secure a large land allotment in a prime “old” Highton location drew big bidding at auction on Sunday.
Adding to the appeal, the four-bedroom home at 240 Roslyn Rd was offered for sale for the first time in 60 years.
Melbourne buyers keen on the substantial 1677sq m block, set across two titles, edged out two local families to score the keys.
They paid $1.555m for the architect-designed home, built in 1963, that’s walking distance to Highton Village.
It was listed with price hopes of $1,350,000 to $1,450,000.
HF Richardson, Newtown agent Matt Poustie said the buyers were investors and may look to lease the property initially.
“The house was much-loved and is in exceptional condition,” Mr Poustie said.
“Long term they’ll look at development opportunities.
“It’s a solid and safe investment, they’ve been looking around Geelong for a little while and hadn’t seen that land size or quality.”
The home has a formal lounge with open fireplace and bay windows, a formal dining room, internal courtyard, study and large family room with north-facing garden views.
It features a tennis court, lawn and outdoor entertainment area, workshop and double garage.
Later in the day, at Little River, a 5.18ha property sold well over price hopes in a lengthy auction lasting 20 minutes.
Five bidders saw value in the property at 86-104 Flinders St, that was listed with price expectations of $1.975m to $2.1m.
Mr Poustie said it sold for $2.5m to a family from Sunshine keen for a rural lifestyle change.
“They’ve been looking for a little while, their friends purchased in Little River last year and that’s where they wanted to move to,” Mr Poutie said.
“All the remaining underbidders were from Pt Cook, Werribee and Geelong, and an investor from Melbourne.”
Mr Poustie said the property’s reserve price was $2.1m.
“This one was a surprise packet, it sold $400,000 over reserve,” Mr Poustie said.
“It sold above the top of the quoted range, we felt prior to auction that most of the interest was in the $2m to $2.2m range, with genuine feedback from buyers.”
The impressive residence has four bedrooms, three bathrooms, multiple living zones and a home office.
Outside, there’s 11 paddocks, a dog run and kennel, stables, a tack room and large machinery shed.
The property is close to the Little River town centre, and offers easy access to the Princes Hwy.