Original Torquay beach house gets second chance at auction
Geelong family pays $300,000 premium at auction to beat three developers for prime location 400m from the foreshore.
An original Torquay beach house will live to see another day after a Geelong family outbid three developers for the property, which beat price hopes by $300,000.
The three-bedroom, one-bathroom house, at 23 Central Avenue, sold for $1.4m at auction on Saturday.
A prime location 400m from Fishermans Beach drove competition from buyers looking to add value to the 613sq m block.
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There was potential to build two townhouses side-by-side, subject to council approval.
But Barry Plant, Leopold agent Deane Hughes said the new owners wanted to keep the house as a part-time holiday base and chip away at doing it up.
He said the property was expected to fetch $1m-$1.1m but quickly rose beyond comparable recent sales in the area.
“There was only nine bids but they were $50,000 bids,” Mr Hughes said.
“It started at $1m and went up to $1.4m.
“The buyers live in Geelong and for them it was just the location, being 400m to the beach and a little bit of a hobby to start working on.”
The house offers two large living spaces, one with a wood heater, a separate kitchen/meals area and a study.
A double garage in the backyard comes with a second toilet and workshop space.
The new owners will be able to leave the car at home and walk to nearby Taylor Park and the main Torquay shopping area.
Originally published as Original Torquay beach house gets second chance at auction