A 5.4-hectare property on Bromfield Street in Warrnambool sold at a mortgagee auction for $795,000 on Saturday.
The property, near Bromfield Street’s intersection with Daltons Road, includes a four-bedroom house with a seven-car garage space as well as a workshop and aircraft hangar.
The property, which is on two titles, has grassed paddocks fronting the Merri River.
The property was formerly occupied by a helicopter pilot who also worked on vehicles in the workshop.
Auctioneer Bruce Ludeman, of Ludeman Real Estate, said the property was bought by a local couple who intend to live in the house and renovate it.
Mr Ludeman said there were two bidders for the property with a vendor’s bid of $700,000 launching the offers.
Three $25,000 bids followed by two of $10,000 lifted the price to the eventual sales figure of $795,000. About 80 people attended the auction.