A modest two-bedroom “project home” with a big backyard proved the perfect entry point for first-home buyers who prevailed at a Herne Hill auction.
The Melbourne-based couple will return to their hometown of Geelong after securing 51Kedleston Rd, Herne Hill, for $690,000.
A 785sqm block attracted three bidders to the property, where many saw a chance to add further value to the existing weatherboard home.
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Hayewinckle auctioneer Danny Hayes took an opening bid of $550,000, with the eventual buyers entering the race at $680,000.
He declared home on the market once the price reached $685,000.
The successful bidders said they loved the location, in a quiet neighbourhood close to schools and sporting reserves, and the fact there was a big yard for their cocker spaniel.
“We’re living in Melbourne but we’re from Geelong and have family here,” she said.
“We want to do it up eventually.”
The house has seen a number of updates, to the kitchen/meals area, central bathroom and the main bedroom, which has a walk-in wardrobe and ensuite.
Polished timber floors, decorative cornices and a feature fireplace create a warm vibe in the front loungeroom.
Mr Hayes said the six-car garage at the end of the side driveway made it an ideal project for a tradie or handyman.
Hayeswinckle, Newtown selling agent Rachel Taylor said the result highlighted the popularity of Herne Hill and the easy access it offered to Geelong’s CBD and waterfront.
She said in this instance the block size provided an extra incentive to bidders, who could comfortably live in the house while plotting any improvements.
“The large component of land offered a lot of potential for people,” Ms Taylor said.
Originally published as Three bidders vie to unlock value in big Herne Hill backyard
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