A three-bedroom home boasting absolute river frontage sold for more than $1.1 million on Saturday.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
The 1960s brick residence, which sits on a 1052-square-metre block was auctioned by Harris and Wood on Saturday, February 17.
The property, at 2 Hopkins Point Road, had an expected price range of between $800,000 and $850,000.
A large crowd attended the auction and there were nine registered bidders.
A strong bid of $899,000 - which was above the expected price - kicked off the auction.
Two bidders went back and forth with bids in $10,000 increments.
A third bidder entered with a bid of $970,000.
These two bidders went back and forth - first with bids of $10,000.
When the price hit $1.1 million, $5000 bids were accepted.
The third bidder was successful in obtaining the property, which has not been on the market for four decades, for $1,150,000.
Agent Danny Harris told the crowd properties with absolute river frontage of the Hopkins River didn't come along often.
"I'm told it's the first time it has been offered in about 45 years and it could be 40 more before it's offered again," Mr Harris said.
Earlier, a four-bedroom home built in the 1800s was auctioned by Ray White Warrnambool.
The two-storey sandstone home, which boasts four bedrooms, two bathrooms, two living areas and two kitchens is located at30 Hopetoun Road.
Agent Harry Ponting said the home boasted period features including 15 foot ceilings, original fireplaces and timber floors.
"It was once owned by Lord Hopetoun and would have originally been on a lot more farmland," Mr Ponting said.
The property had a price range of $599,000 to $650,000.
A single bid of $650,000 was submitted and accepted.
A four-bedroom home with two bathrooms also sold under the hammer on Saturday.
Ray White agent Jason Thwaites said the home was sold to a Melbourne buyer who was relocating to the city.
Bidding on the property - which was expected to fetch between $690,000 and $758,999 - opened at $680,000.
The home sold for $731,000.