The three-bedroom house at 25 Sheridan St, Hamlyn Heights, sold for $790,000.
The owners of a hotly contested residence in an up-and-coming Geelong suburb reaped the rewards as a triumvirate of buyers advocates representing Melbourne and interstate clients added $70,000 above their expected sale price.
The three-bedroom brick veneer residence at 25 Sheridan St, Hamlyn Heights, sold for $790,000 as the three bidders ruled proceedings at Saturday’s auction.
Maxwell Collins Geelong agent Duncan Skene had set a $680,000 to $720,000 price guide for the 765sq m western suburbs property.
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Mr Skene said the house was well cared for, with polished hardwood floors featuring throughout the residence, which also has ducted heating and ducted vacuum systems.
“There was good interest in it but a lot of people just didn’t get a chance to get into it because it just went really fast,” he said.
“There was three buyers advocates all for Melbourne or interstate buyers. They opened it at $700,000 and pretty much took it to $790,000 very quickly.”
Mr Skene said the house offered new owners the chance to add their own touches and capitalise on the updated kitchen and meals area looking out to the rear garden.
The 765sq m property is somewhat typical of the suburbs, but could become part of a play to unlock value in the property by building a dwelling in the backyard, after seeking council permission, he said.
The property was last traded for $320,000 in 2010, since being advertised for rent for up to $450 a week as late as 2023, records show.
Hamlyn Heights has a $727,500 median house price – which is 1.7 per cent higher than the same time last year, according to PropTrack data.
But the suburb has been a long-term target of investors and developers, who have turned the mid-century properties into multiple new dwellings, including new homes in the backyard, or up to three two-storey townhouses.
In the past 12 months, 14 planning applications have sought permission to create 24 new residences in the suburb.
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