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Former racing car driver Paul Dumbrell has offloaded an exclusive Barwon Heads property after ditching plans to incorporate it into a multimillion-dollar beachside mansion.
A knockdown rebuild is still on the cards for 4 Stephens Pde, which sold to a Melbourne buyer after a seven-month campaign.
The original four-bedroom weatherboard house was traded for an undisclosed price but had been listed with a $3.7m to $4m price guide.
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The four-bedroom house sits between 13th Beach and the Barwon Heads golf links.
Bathurst champion turned retail executive Mr Dumbrell bought the home and a neighbouring architect designed residence for a combined $10.2m in 2020.
He relisted both properties in March this year after the City of Greater Geelong knocked back a proposal to bulldoze the homes to make way for a $6m mansion with a seven-car basement garage, gym and cinema.
Bellarine Property, Barwon Heads agent Christian Bartley said three buyers put forward offers for the 548sq m property, which sits in a premium position between 13th Beach and the Barwon Heads’ renowned golf links.
He said while the two underbidders hoped to renovate the existing house, the purchaser, who has a connection to Barwon Heads, planned to construct a new home to capitalise on the ocean views.
The existing house is likely to be replaced with a modern rebuild.
The property’s impressive ocean and golf club views was what attracted buyers.
“They are not tapped into excessively. From the upstairs bedrooms you can see the ocean waves breaking, you can watch someone surf from there, and if that’s all knocked over and done properly it will be exception,” Mr Bartley said.
“And then the views going northwest back to Geelong will be epic. It’s an incredible site because of the views.”
He said the secluded Stephens Pde was one of the best pieces of real estate in Barwon Heads, with a track to the beach just across the road.
“It is one of those pockets where you build a house there and you will never move again.” he said.
“Most people who are going to buy something like that are going to employ an architect and the architect is going to create something that’s pretty incredible and captivating.”
Paul Dumbrell, left, pictured with Jamie Whincup after a Supercars victory in 2018, bought the property in 2020.
Some buyers were hoping to renovate the weatherboard house.
The lounge links to a north-facing balcony.
The first floor balcony takes in picturesque views of Barwon Heads Golf Club from the existing house, which has a separate living and dining rooms and an original kitchen.
“The two other parties were going to invest in a major renovation,” Mr Bartley said.
“The bones of it were pretty solid but with a renovation you don’t know how much you are going to invest because you don’t know what you’re going to find along the way. But you could spend half a million and you could fix that house.”
The neighbouring five-bedroom house, designed by Swaney Draper Architects and featuring rammed earth, has been withdrawn from sale.
It was previously offered with $7.2m to $7.8m price hopes.
The post Retired Supercars champ Paul Dumbrell offloads Barwon Heads property appeared first on realestate.com.au.
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