174 Swanston St, South Geelong.
Stars aligned for a young couple to get an uncontested possession of a period home on a property that’s big for inner city South Geelong.
The buyers were the only group to raise their hand for the three-bedroom Victorian era home at 174 Swanston St at Saturday’s auction.
But that wasn’t a true indication of the level of interest in the 512sq m property, according to Buxton East Geelong agent Carl McCann.
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There were several other parties keen on landing the house that were prevented because they couldn’t bid under auction conditions, Mr McCann said.
“I think it is just a starter home in a terrific location. It’s obviously a great spot where everything is within walking distance. I think that was the key attraction,” he said.
“I had another couple of parties that had shown interest that didn’t have their finances in order.
Auctioneer Jarrod Leonard called for bids at 174 Swanston St, South Geelong.
Mr Leonard competed with a lawnmower as he read through the contract.
“In actual fact, one of them was there on the day watching on and another one rang in the afternoon.
“The difficulty we’ve got in selling to someone subject to finance at the moment is that the banks are so slow is that you’re effectively a month off market waiting for the buyers to actually get the finance.
“So if you’ve got a genuine buyer, like the young couple that was there on Saturday, you’ve got to treat it with due consideration and maybe you get a better result down the track, but a bird in the hand.”
A laneway offered side access to the sizeable yard.
A modern kitchen and open-plan living zone spilt outside for more entertainment space.
Plenty of original character was retained within the home.
The property was passed in on a $910,000 genuine bid before selling for $925,000 after the auction.
The property had been offered with a $900,000 to $950,000 price guide.
Records show it last sold in 1999 for $67,500 but has since become the most expensive property with an original house on the street that leads down to the Little Creatures Brewery and the Barwon River.
The size of the property, which had side access from a laneway, drew plenty of interest.
“It was a larger parcel of land than a lot of South Geelong,” he said.
“But the home had plenty of scope as well. It could be improved but it was certainly comfortable to live in at the time as well.”
