A WESTERN District farmer will enjoy prime water views after paying $1.38 million for a Port Fairy property at auction on Saturday.
Three people chased the East Beach property from an opening vendor’s bid of $1.1 million, with 12 bids taking it to the final selling price.
At 184 Griffith Street, the 2065-square-metre block includes an original three-bedroom family beach house and direct frontage to the beach.
About 100 people attended the auction, which was held by Northeast Stockdale and Leggo on behalf of a deceased estate.
Agent Nicole Dwyer said the property had been listed for sale for the past two years but the family decided to take it to auction.
“This was one I know there was a lot of interest in, being an exclusive Each Beach block running from the beach to the road,” Ms Dwyer said.
“It has amazing views.”
She said the winning bidder was a farmer who planned to use it as a holiday house and eventually retire there.
“A lot of people thought the house was a dozer job, but there were still some solid parts,” Ms Dwyer said.
The large block has potential for further development or subdivision, subject to Moyne Shire approval.
The losing bidder, who listened to the auction via a mobile phone link, was a Melbourne person with ties to Port Fairy.
An unusual feature of the auction was the addition of a mobile coffee cart, offering free hot drinks for those attending.
Ms Dwyer said she had noticed the trend where agents paid for free coffee for the crowd at weekend auctions in Melbourne and thought she would test it out in Port Fairy.
“It was something different and it was a real hit,” she said.
Ms Dwyer described the coastal town’s property market as “very buoyant”.
“We’ve sold 17 properties in the last 30 days. It’s been our best February yet,” she said.
Three other auctions on Friday and Saturday were not so successful, with agents failing to glean any further interest after opening on vendor bids.
PRD Jens Gaunt Warrnambool has listed a three-bedroom Edwardian weatherboard at 31 Kerr Street for $339,000 after no interest from the 25-strong crowd at Saturday’s auction.
Property advisor Tim Wells said the Warrnambool home opened on a vendor’s bid of $300,000.
He said a party was now in negotiations.
Brian O’Halloran and Company has listed a modern three-bedroom house at 3 Riverdale Court in Warrnambool for $385,000.
Agent Brian Hancock opened the property at $375,000, but there were no further bids from the 22 people present.
Mr Hancock said agents were talking to one interested party.
A five-bedroom brick home at the foot of Camperdown’s Mount Leura also failed to sell after opening on a vendor’s bid of $390,000.
Mr Hancock said 18 people attended the auction on Friday at 13 Kawana Court.
The property is now for sale at $410,000 in what Mr Hancock described as a “super price”.