The three-bedroom house at 40 Nagle Drive, Belmont, sold for $523,000.
An original Belmont house offered for the first time in more than 50 years generated an enormous reaction from bargain-hunting buyers.
But after welcoming more than 100 groups to the three-bedroom house at 40 Nagle Drive, listed for $550,000 to $600,000, Hayeswinckle Highton agent Sean O’Brien says most beat a hasty retreat given the amount of work needed to polish the long-held family home.
The headline to the marketing spiel should have given an indication of the task at hand: “Renovate or Detonate!”
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The three-bedroom house at 40 Nagle Drive, Belmont, sold for $523,000.
“There was significant interest, Hayeswinckle Highton agent Sean O’Brien said.
“There would have been over 100 groups come through, but a lot of them were turned off by the amount of work that was needed doing to the property and externally,” he said.
“I haven’t seen that many for a decade now.
“As soon as they saw how much work was needed internally, with the wood rot and floorboards giving way, it brought the crowd down to probably a maximum of maybe five buyers.
“I did have one group that was looking at doing a knockdown-rebuild, but the majority of the groups were trying to bring it back to its former glory, and then eventually do an extension at the back.”
A local purchaser secured the home for $523,000.
The 650sq m block offers the chance to renovate and extend.
The property had been held in the same family for more than 50 years, Mr O’Brien said.
Mr O’Brien said the property did present a “wonderful opportunity to rejuvenate a classic Belmont home or build your own forever home on a coveted allotment”.
The layout presents a central eat-in kitchen, a semi attached lounge and small mud room looking out to the back yard.
Mr O’Brien said the location was seen as a benefit for the buyers, with Clairvaux Catholic Primary School and McDonald Reserve at the end of the street.
The loungeroom at the front of the house.
The kitchen and dining area is in the centre of the house.
Bellaire Primary School and Christian College junior school are also walking distance, drawing interested buyers from further out in Geelong or beyond.
“Everyone just wants to be in Belmont and there was a lot of people from 3217, or people from Werribee, Tarneit and even further abroad.”
The home occupies a 650sq m block with a 15m street frontage.
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