A FIVE-BEDROOM home on Port Fairy’s East Beach sold at auction for more than three-quarters of a million dollars on Saturday.
The two-storey residence at 160 Griffiths Street attracted more than 60 people for its sale, with bidding opening at $725,000.
“Two bidders went in $5000, $2500 and finally $1000 increments until it was sold under the hammer,” Charles Stewart Warrnambool branch manager Nick Adamson said.
The final price was $774,000, which Mr Stewart said was “indicative of market value”. Meanwhile, the historic Rosebrook church failed to sell at auction. About 15 people attended the sale of the old church, which is located on an acre block on the Princes Highway.
“We kicked it off with a vendor’s bid of $160,000 (and) it didn’t get a rise and is now on sale on the open market for $195,000,” Mr Adamson said.
“At that price we expected to get some competition, it represents some pretty good value.
“It’s got a permit for a dwelling and, subject to council approval, you could have an excellent highway business there.”
Both sales were held in conjunction with Robertson Real Estate in Port Fairy.