Three bidders push the price for 1940s East Geelong home

THREE bidders saw value in a 1940s East Geelong home at auction on Saturday.

The auction of 1/493 Ryrie St, East Geelong was held in the backyard of the 558sq m property and drew quite a cosy crowd.

The three-bedroom character house was listed with price expectations of $740,000 to $810,000.

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Ray White, Geelong auctioneer Laurie McGovern said the home’s interchangeable floorplan and “super” location close to Eastern Gardens were both big factors for potential buyers.

“Just a short stroll up the street and you’re in the East Geelong shopping village, and a little further on, right in the CBD,” Mr McGovern said.

Bidding opened at $740,000 and slowly climbed to $805,000, where the property was passed in and sold shortly after for an undisclosed amount.

While he wouldn’t reveal the final selling price, Mr McGovern did say the amount was “significantly higher” than the amount the property was passed in on.

The buyers were from Geelong and plan to live at the property.

“They loved the character and feel of the place,” Mr McGovern said.

The result was a boon for the sellers with the property last trading in 2014 for $420,000.

Art deco features are throughout the home, which has a classic wide entrance, as well a separate dining and lounge rooms.

The residence has been freshly painted inside and outside, and the floorplan is versatile, with a third bedroom the could be converted to a rumpus room or a sunny work-from-home space.

The large, covered entertainment area has designated space to dine and lounge about.

There’s a double garage, a single carport and room to park off the street in the side driveway.

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