Five bidders drive big result for long-held Belmont bungalow
26 Kardinia St, Belmont was offered for the first time in 27 years.
A Belmont character home smashed price hopes by $285,000 as buyers jostled for a prime riverside position.
Five bidders drove the hot contest for the three-bedroom, two-bathroom prize at 26 Kardinia St at Saturday’s auction.
McGrath, Geelong auctioneer David Cortous brought the hammer down at $1.285 million after a Melbourne couple emerged “at the death-knock” to secure the keys.
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McGrath, Geelong listing agent Jim Cross congratulates the highest bidders.
There was plenty of interest in the crowd.
The much-loved California bungalow — offered for the first time in 27 years — retains beautiful heritage features as well as a modern kitchen and living area that links to a lush rear garden.
But for many it was access to the nearby Barwon River, High St shopping strip and schools that added extra value.
Listing agent Jim Cross said a bridge linking the area to Newtown’s cafe strip enhanced the lifestyle appeal buyers were seeking.
The kitchen has all the mod cons.
One of two living areas on offer.
“That river end part of Belmont has become extremely popular, it’s increasing in popularity,” Mr Cross.
“As Geelong West, Newtown and East Geelong are becoming very expensive that ripple effect has spilt over the river.
“It’s such a lovely family area and it was a great family home — they have been there for 27 years.”
He said the buyers were a young Melbourne couple looking to set themselves up in Geelong.
The buyers said the garden was a big attraction.
They were one of three Melbourne groups who put a hand up for the 520sq m property that came with rear access to a triple garage.
“Now we have not got any restrictions there’s an increases again in the Melbourne buyers in the market and that’s driving up prices as well,” Mr Cross said.