3 Kings Lane, Geelong West, sold at auction on Saturday.
A leafy inner city pocket with a quaint character home proved such an ideal place to start for young buyers that two groups were keen to secure this address.
The two-bedroom house at 3 Kings Lane, Geelong West, sold for $722,000 after two bidders contested Saturday’s auction.
The competition was strong enough after Maxwell Collins, Geelong auctioneer Duncan Skene opened with a $650,000 vendor bid that the eventual sale price pushed more than $20,000 beyond the top of the quoted range.
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The updated kitchen has stainless steel appliances, glass cabinet doors and subway tiles.
The lounge room, with a timber mantel surrounding an open fireplace, is in the centre of the home.
But even at that price, Mr Skene said it was good buying in the popular pocket that’s close to the Pakington St shopping and cafe strip and Geelong’s CBD and train station.
“We had a couple of bidders there. I thought we might have a couple more but some people, for whatever reason, didn’t turn up,” Mr Skene said.
Both bidders were young couples heading down the highway from Melbourne, he said, driven by the character of the home and the location.
“There was mainly interest from first-time buyers as it was entry level for Geelong West,” Mr Skene said.
The 162sq m property was a small block, but the nice little courtyard out the back offered the perfect lifestyle opportunity Geelong West is renowned for.
The house showcased high ceilings throughout, with a side hall leading to the lounge room in the middle of the house and a separate kitchen and dining room that leads to a rear courtyard.
A detailed picket-style fence complements the character weatherboard residence, where baltic pine floorboards and timber-lined ceilings continue the period charms inside.
The kitchen benefited from a modern makeover with stainless steel appliances, while the bathroom has a shower over the corner spa.
A full bank of windows include two pairs of french doors that open to let occupants step out to a brick patio set within a small box hedge.
Records show the property last sold for $550,000 in 2017.
The house was within the entry level for the suburb, where the median house price is 872,500, according to PropTrack data.
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