South Warrnambool property sells after auction

A SOUTH Warrnambool property sold immediately after auction on Saturday.

Number 15 MacDonald Street fetched $360,000 after it was passed in on just one bid.

Agent Matt Northeast, of Northeast, Stockdale and Leggo, said about 35 people attended the auction which opened on a vendor’s bid of $340,000.

A single bid of $345,000 was taken from the crowd before the home was passed in and then sold immediately afterwards for the higher price. Mr Northeast said it went to a local family and described the outcome as a “great result”. The three-bedroom, cream brick home sat on a 750-square-metre block and was close to the beach and Lake Pertobe.

Falk and Company was not so successful with the auction of the old Timboon bakery and an adjoining house.

Director David Falk said the property was passed in on a vendor’s bid of $185,000 after failing to attract any interest from the 15 people present. Mr Falk said the bakery building needed some work but the residence would be ideal as a rental property. Meanwhile, Mr Falk said Peterborough was a popular area for buyers last week. He sold a block of land and two houses, two of them going to people from the Barwon Heads and Anglesea areas who wanted to get away from their home towns during peak periods.

malexander@fairfaxmedia.com.au

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