Cheltenham: 101-offer auction shocks crowd after 11 buyers push home $270k+ over reserve
A home in Melbourne’s southeast being sold for the first time since it was built 55 years ago shocked spectators after 11 bidders placed more than 100 offers. See how much it sold for.
A Cheltenham home being sold for the first time since it was built 55 years ago shocked buyers on Saturday after 11 bidders placed a total of 101 offers.
Nearly 150 spectators watched in awe at the auction for 65 Lorna St that flew a whopping $271,500 over reserve on Saturday to reach a $1,221,500 sale.
While 11 buyers turned up to bid, seven key bidders placed the majority of the offers in a competitive sale that Ray White Cheltenham agent Trevor Bowen said was the best auction he had seen in his 11 years in real estate.
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“The beautiful sunny day brought people out,” Mr Bowen said.
At one point, a handful of bids worth $30,000 were carried out by two keen buyers without Ray White auctioneer Angela Limanis even speaking.
The three-bedroom home was built in 1968 by vendor Sarah Byrnes’ parents and served as her and her brother’s family residence growing up.
“I definitely feel a bit sad knowing it’s no longer in the family,” Ms Byrnes said.
“It’s a wonderful area and back then it was a newish estate … the court was full of kids so we’d all play out in the street until the street lights went out.”
Ms Byrnes added that her father was a jazz musician who would practice playing the clarinet and saxophone in the garage.
“I think some of the neighbours remember him practising his tunes fondly, the house was always full of music,” she said.
Her mother on the other hand was a keen gardener and enjoyed tending to the property’s garden until her passing earlier this year.
“The jacaranda tree at the house was grown from a seed from my grandfather’s tree, and my husband and I have since taken seeds from that tree and grown more,” Ms Byrnes said.
The family also held a handful of parties, including 21sts and 50ths, where up to 70 guests filled out the back yard.
Ms Byrnes said prior to the auction that she hoped the home would sell to another family.
“It would make me happy if a family was to buy it and make it another happy family home,” she said.
And luckily, her wish came true, with the keys going to a young couple on Saturday who plan to complete a full renovation and make it their family home.
The property was initially listed with a $900,000-$950,000 price guide.
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emily.holgate@news.com.au
Originally published as Cheltenham: 101-offer auction shocks crowd after 11 buyers push home $270k+ over reserve