10 Victoria Tce, Belmont, beat its auction reserve by $80,000.
A young tradie has scored his first home at a hotly contest Belmont auction that landed $80,000 above reserve.
Targeting a smaller two-bedroom townhouse as an entry point to a sought-after riverside precinct proved a winning strategy for the Ocean Grove buyer.
He was one of four bidders to raise a hand for 10 Victoria Tce, Belmont, which sold under the hammer for $710,000.
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The elevated deck has neighbourhood views.
Jellis Craig Geelong agent Ross Bywater said given the modest size of the 368sq m property, the reserve had been set at $630,000.
But buyers saw greater value in the well-presented residence that felt more like a “little house than a unit”.
“Four bid on the day but we had a couple that didn’t even get a chance,” Mr Bywater said.
“For that property it was a mixture of first-home buyers and downsizers. They had done a lovely renovation so it had new carpet, new paint and the kitchen and bathroom had been done at some stage.
“It was just a combination of the layout of the property, the fact it was on its own title and the closeness to the river.”
The updated kitchen has stainless steel appliances and a breakfast bar.
The back yard has a decent lawn.
The brick townhouse is just the second property to trade in tightly held Victoria Tce since 2023.
A spacious lounge and adjoining kitchen/dining area, both flowing out to a rear deck overlooking a north-facing back yard, are highlights of the home.
It also features a walk-in wardrobe and updated two-way bathroom off the main bedroom and single garage with backyard access.
“It was lovely for the owners because it was their first home and they have loved it and to see it go to another young person was a happy event,” Mr Bywater said.
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