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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Jessica Greenan
Journalist at The Warrnambool Standard covering Corangamite Shire Council. Sometimes court. Special interest in all things environment.
Journalist at The Warrnambool Standard covering Corangamite Shire Council. Sometimes court. Special interest in all things environment.
