A unique opportunity to own a large city property complete with stables failed to entice buyers at the city's' weekend auctions which saw two of three homes initially passed in.
A crowd numbering about 20 attended the auction of the two-bedroom renovated cottage complete with backyard stables at 234 Moore Street, Warrnambool which was expected to fetch anywhere from $560,000 to $600,000.
Bids opened at $500,000 and reached $550,000 before Harris and Wood real estate agent Tom Symons was forced to pass the property in for negotiations with the highest bidder. A settlement of $580,000 was later reached.
The three-bedroom home at 14 Patterson Street, which was expected to fetch anywhere from $490,000 to $539,000, received even less luck.
Ray White real estate agent Fergus Torpy kicked it off with a vendor bid of $450,000 after no opening offers were put forward.
No further interest was received and the property was passed in.
A breakthrough was made at Mr Torpy's second auction of the day at 1/11 Nelson Street.
A similar crowd of about 20 attended the auction of the art deco-style property, but just one active bidder put forward an offer of $760,000.
That was below the estimated price range of $780,000 to $858,000.
After lengthy negotiations between the single bidder and the homeowner, it was announced the bid had risen to $800,000, an offer which was accepted.
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