Geelong West character home sells as eight bidders compete

1 week ago 9

21 Waterloo St, Geelong West, sold for $940,000.

Eight bidders were in the action as a three-bedroom Edwardian character home captured the imagination of buyers.

The 346sq m property at 21 Waterloo St, Geelong West, was snapped up for $940,000, as the extreme competition pushed the price above the $780,000 to $850,000 expectations set for the weatherboard home.

“We pretty much knew from the first open home, when we had 46 groups come through and we ran out of brochures, that it was going to be a pretty hotly contested campaign,” Gartland Geelong agent Will Ainsworth said.

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“Fortunately we had owners that just wanted it sold and just let is do our job.”

The property hit the market after the agents recommended a cosmetic update to appeal to the widest range of buyers.

“When we initially went in to the property, it was really nice but it needed a little bit of cosmetic love,” he said.

21 Waterloo St, Geelong West, sold for $940,000.

“So we had our painters go through and repaint it and do a few updates here and there, which meant it presented really well.”

But the property also sat in between renovated and unrenovated, meaning people could move in and live in comfort, but also tear into the kitchen and bathroom.

“You could move in for however long you wanted and you don’t have to pay the price for a renovated home,” he said.

“And there was enough scope to go in and change the kitchen and bathrooms, or they’re quite adequate as they are.”

21 Waterloo St, Geelong West, sold for $940,000.

A young local couple living in a nearby inner west suburb scored the keys to the property, beating a mix of downsizers, couples and investors.

Location and character were key attractions, said Mr Ainsworth, who did the maths, stepping out 81 metres to Pakington St while acknowledging Waterloo St was a busy thoroughfare.

“The closeness to Pako probably will outweigh the busyness (of the street), but also because it had rear access you’re never stuck for a park, or you’re never really going in the front of the property, as you’re accessing it from the rear.”

21 Waterloo St, Geelong West, sold for $940,000.

A large carport-come-entertaining area opened from the rear access on Anglesea Terrace, offering off-street parking for cars and even a caravan on a limited sized block.

“It’s essentially a Geelong West character home with beautiful character features such as high ceilings and polished floorboards,” Mr Ainsworth said.

“There was a second living area that could be used as another bedroom that had an open fireplace. It certainly ticked boxes for what people are looking for in a character home.”

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