11 Cornish Rd, Lysterfield, proved popular with buyers at a Saturday auction.
A Lysterfield property home to two dilapidated dwellings, set among rolling hills, sold for an impressive $320,000 above expectations on Saturday.
Ten bidders registered for the auction of the 3ha address at 11 Cornish Rd, in Melbourne’s southeastern suburbs.
Previously used as short-term rental accommodation, the site features a cottage-style, three-bedroom house and a combined horse stable and residence including a loft studio, equestrian arena and feed and storage room.
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A partially-built infinity pool shell has also been installed on the land.
Barry Plant Wantirna director Daniel Cripps said the property, boasting spectacular mountain views, was a mortgagee sale.
It was listed with a $1.5m-$1.65m asking range.
“We had 120 groups through during the campaign, which turned out to be about 200-and-something people as most came in groups of two or more,” Mr Cripps said.
He described the property as “dilapidated with incredible opportunity”.
Although 10 bidders registered for the auction, only three buyers had the chance to take part.
Mr Cripps said the opening $1.6m bid was “very close to the reserve”.
The Lysterfield property has two residences, including one with an open plan living, dining and kitchen area, three bedrooms, a study or fourth bedroom, two bathrooms and a laundry.
The combined residence and stables has a rustic charm.
The stables building has a loft studio, kitchenette and balcony, while the ground floor includes a bathroom, central barn area, three horse stables, a feed and storage room and an arena suited to dressage.
Two bidders ended the auction in the fierce competition with each other, with home selling for $1.97m, six figures above the advertised range’s upper end.
“The buyers plan to rent out it for a couple of years, then bulldoze and build their dream home,” Mr Cripps said.
“They loved the outlook from the main house at the top of the block, the incredible views over Lysterfield Valley.”
With children who own horses, the stables were an extra bonus feature.
Between 80 to 100 people watched the auction.
Cape Cod-style cool at 4 Wendy St, Forest Hill. The house sold at a Saturday auction.
There’s four bedrooms, two bathrooms and a double garage, plus an open-plan living and dining area lit by plenty of sunshine.
Also on Saturday, a Cape Cod-style house at 4 Wendy St, Forest Hill, sold for $1.405m under the hammer.
Ray White Mt Waverley’s Max Turner said two out of four registered bidders participated in the auction for the four-bedroom pad.
“This property has always captivated many passers-by with many locals knowing the family, it’s a very cool house,” Mr Turner said.
“The bidding started at $1.15m and then it jumped up quickly in front of a crowd of more than 100 people.”
The sellers, who have lived there since 1999, were “over the moon” with the result.
“After 25 years they are moving to the country, and a young couple are moving in,” Mr Turner said.
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