Second auction finds buyer for a colossal Manifold Heights house
Two auctions and a long campaign has unearthed a buyer willing to take on a colossal Manifold Heights property.
Two auctions and a long campaign has unearthed a buyer willing to take on a colossal Manifold Heights property.
The buyer signed a $629,250 deal for the property after last Saturday’s second auction.
The three-bedroom house at 64 Wimmera Ave was initially listed in July and spent 132 days on market, according to CoreLogic data, before parties came together on price.
RELATED: Geelong West buyers swoop on auction day
Two bidders battle for 1912 Geelong house
Couples keen on 1970s Highton reno
Harcourts, North Geelong agent Joe Grgic said the owner’s initial expectations had been far higher than the market feedback.
While 653sq m property has three street frontages, a “colossal” extended three-bedroom house with an enormous garage and first-floor rumpus room occupied much of the block.
The scope of potential works, even the cost of demolition, had hurt the value estimates.
“The owner’s expectations were a lot higher, but the market feedback was at this level,” Mr Grgic said.
“It was a huge block but it was also needing a lot of upgrading and work and that’s what the market saw it as,” he said.
“They saw it as land only, less the house and being such a big house, it scared a few developers off.
“For somebody to come in and renovate they felt that it was going to be such a big job.
“But we got there in the end and the owner was happy and that’s all that matters.”
Mr Grgic said the buyers had some plans in mind for the property, but it was early days.
It could involve retaining the original clinker brick part of the house fronting Wimmera Ave, he said.
Originally published as Second auction finds buyer for a colossal Manifold Heights house