Original Waurn Ponds home beats price hopes by $280k at auction
A scenic rural location drew hot competition from four bidders for a lifestyle property with a much-loved 1960s home offered for the first time.
A rural Waurn Ponds property offered for the first time smashed price hopes by $280,000 as buyers scrambled to get their hands on the rare lifestyle offering.
The original 1960s three-bedroom house at 38 Marendaz Rd sold under the hammer for $1.110m at Saturday’s auction.
A local family planning a renovation down the track edged out three other bidders for the 2091sq m property, which was listed with $760,000 to $830,000 price hopes.
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McGrath, Geelong agent Egle Skridulis said it was an emotional day for the sellers, whose family had lived at the much-loved home since it was built decades ago.
“It’s the end of an era,” Ms Skridulis said.
“People don’t leave that location unless they really have to so it’s a very rare find and I guess that was the appeal because people know that you have to push yourself a little bit harder because it could be another 20 years until you get another one like that.
“We there a few bidders in the crowd that had interest, but some didn’t get a chance to put their hands up.”
The quiet rural setting just a five-minute drive from Waurn Ponds Shopping Centre was a huge drawcard for young families who saw potential to modernise the existing house.
Bidding opened at $730,000, with the last two buyers to enter the race pushing the price into unexpected $1m territory as a large crowd watched on.
Ms Skridulis said the land, which was carved off from a larger family holding decades earlier, proved an attractive size for lifestyle buyers.
“It’s not a big acreage, it’s very unusual to have only 2000sq m,” she said.
“Not everyone wants to have a lot of land to work with but at the same time you get the benefit of the views from other properties that you are surrounded by.
“You still have that elevated position and there’s amazing views and peace and quiet.”
The outlook is on show from both living areas at the house and the central open-plan kitchen and meals area, which still sports mid-century cabinetry.
All three bedrooms have built-in wardrobes and are serviced by a family bathroom.
Originally published as Original Waurn Ponds home beats price hopes by $280k at auction