Gartland auctioneer Michael Tricarico calls for bids at 13 Balliang St, South Geelong.
A Victorian-era miner’s cottage that was renovated and extended in an architect-designed project more than a decade ago has delivered a second time, smashing price hopes at a hot auction by more than $200,000.
Five bidders contested the four-bedroom house at 13 Balliang St, South Geelong, which eventually sold for $1.411m on Saturday.
A local family secured the 460sq m inner city property that’s near the shadows of GMHBA Stadium and walking distance to South Geelong’s train station and primary school, local pubs and coffee shops, CBD shops and restaurants and Barwon River parkland.
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Gartland, Geelong agent Greg Matheson, who listed the property with $1.1m to $1.21m price hopes, said about 75 groups inspected the home during the campaign.
13 Balliang St, South Geelong, sold for $1.411m
A contemporary extension offered seamless indoor-outdoor living options.
“It’s a tightly-held spot to get in to and there’s not a lot of turnover, particularly of that quality of home,” Mr Matheson said.
He confirmed the reserve was within the price guide.
The elegant features of the period home, with a modern architectural renovation and extension, rear north-facing aspects and proximity to everything within walking distance was central to the strong interest, he said.
13 Balliang St, South Geelong for sale
13 Balliang St, South Geelong for sale
Geelong buyers advocate Tony Slack, who placed the winning bid on behalf of the local family, said he thought the property could eclipse $1.4m given the interest it attracted the last time it sold in 2014.
Mr Slack said he was the underbidder on that occasion (records show it sold for $840,000 then) but this time his buyers set a budget that gave him wriggle room as the competition pushed the price past that mark.
A phone bidder opened the auction at auctioneer Michael Tricarico’s suggested start of $980,000, with three in the contest at $1.06m before Mr Slack turned up the heat at $1.1m.
Gartland auctioneer Michael Tricarico calls for bids at the auction as buyers advocate Tony Slack, back right, looks on.
The first bidder hung up the phone at $1.275m, while a fifth entered who at $1.337m and another young couple couldn’t keep pace with the top two buyers as the bidding leapt from $1.369m to $1.4m in one go.
Mr Tricarico said the home was all about lifestyle.
“I’m positive you’ve all had the exact same feeling” he said.
Gartland agent Greg Matheson speaks with the underbidder during the auction.
“You’ve walked in to the back open living area, pictured yourself cooking dinner there, putting the kids to bed, walking the kids to school.
“I’ve had comments that it’d be perfect if it had a swimming pool. 400m down the road guys, that’s where your swimming pool is and you don’t have to look after it. Don’t under appreciate the lifestyle you’ll live in this location.”
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