Belmont riverside address beats auction reserve by $136K
This little-known address was on the market with one bid as Geelong buyers showed they are prepared to pay for a lifestyle location.
A Belmont house smashed its auction reserve by $136,000 as local buyers again proved they are prepared to pay a premium for riverside living.
Five bidders contested the four-bedroom house at 4 Riverglen Court, which sold for $796,000 on Saturday.
Barry Plant, Highton agent Matthew Constantine said the property was on the market from the get-go, with the opening $680,000 bid coming in $20,000 above reserve.
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He said Geelong buyers keen on the location just moments from the Barwon River and Barwon Valley park drove competition.
“It was a combination of good accommodation and the position, it’s not well known, not many people know where Riverglen Court is, it’s almost tucked away and it’s right on the Barwon River,” Mr Constantine said.
“Certainly the house is very private with established gardens and the community vibe in that court with young families is amazing so that is what people might have got a sense of.”
The new owners, a young family, will enjoy a great indoor-outdoor connection, with two living zones linking to a series of terraces and covered decks, including one with a spa.
The house also has an ensuite and walk-in wardrobe to the main bedroom and a study for those working from home.
“It just allows them to move in and enjoy it but they do have some options to make some upgrades and they wouldn’t be overcapitalising,” Mr Constantine said.
The sale follows another strong auction result in the next street two weeks earlier.
A three-bedroom house on a bigger block at 22 Albert Terrace, Belmont beat price hopes by $100,000 to sell for $965,000.
Originally published as Belmont riverside address beats auction reserve by $136K