Better days to come for old Eastern Beach terrace

The two-storey terrace-style house at 8 Swanston St falls well into the renovate or detonate category, but still found a buyer at $1.325 million on Saturday. As far as homes go, dilapidated puts it mildly for this building, which has long been separated into three units of varying condition. RELATED: Newtown neighbours lay welcome mat as buyers find “forever” homeFirst-home buyers find success at Highton auctionNewtown butcher shop gets top price for prime real estateProperty issues that got Aussies talkingIt’s externally clad in painted steel sheets usually found on suburban garages and has steel props holding up the two-storey front veranda that shows hints to a grander period style last seen decades ago.There’s a lot more to point out beyond the facade, but it was clear most buyers were looking beyond the condition of the building.It had a 310sq m block with rear access to Fyfe Place North.Some of Geelong’s most expensive homes are in the neighbourhood, including Benton at 34 Eastern Beach Rd, which sold for $3.45 million in June, to become one of a number of multi-million dollar residences in the pocket.HF Richardson auctioneer Matt Poustie was quick to point that out.“What we offer today is the rare and exclusive opportunity to secure a superb block of land with Corio Bay right on your doorstep,” he said.“We’ve heard lots of differing stories about the origins of this home — Singapore?, Denmark?, Victorian, pre-fabricated.“Either way the consensus is that a site like this so close to Eastern Beach, right on the doorstep of the Geelong CBD is not an opportunity to let slip by.”While someone in the crowd tried on a $600,000 opening bid, Mr Poustie kicked off the auction with a $1 million vendor bid.Three hopeful buyers raised a hand at the auction before Mr Poustie declared the property was on the market at $1.3 million.The eventual buyer then entered the race, taking the bidding to $1.325 million.Mr Poustie said it was clear the property had “seen better days.”“I think the affordability to be able to buy so close to the water, so close to Eastern Beach where you’ve got $3 million homes within 30 metres lends itself that its going to be an exciting site,” he said.“I think someone is going to do something special here.”The property sold to a buyers with interests in the street.

from news.com.au — Australia’s leading news site https://ift.tt/3kZlX2v
https://ift.tt/eA8V8J
November 22, 2021 at 12:30AM
The two-storey terrace-style house at 8 Swanston St falls well into the renovate or detonate category, but still found a buyer at $1.325 million on Saturday. As far as homes go, dilapidated puts it mildly for this building, which has long been separated into three units of varying condition. RELATED: Newtown neighbours lay welcome mat as buyers find “forever” homeFirst-home buyers find success at Highton auctionNewtown butcher shop gets top price for prime real estateProperty issues that got Aussies talkingIt’s externally clad in painted steel sheets usually found on suburban garages and has steel props holding up the two-storey front veranda that shows hints to a grander period style last seen decades ago.There’s a lot more to point out beyond the facade, but it was clear most buyers were looking beyond the condition of the building.It had a 310sq m block with rear access to Fyfe Place North.Some of Geelong’s most expensive homes are in the neighbourhood, including Benton at 34 Eastern Beach Rd, which sold for $3.45 million in June, to become one of a number of multi-million dollar residences in the pocket.HF Richardson auctioneer Matt Poustie was quick to point that out.“What we offer today is the rare and exclusive opportunity to secure a superb block of land with Corio Bay right on your doorstep,” he said.“We’ve heard lots of differing stories about the origins of this home — Singapore?, Denmark?, Victorian, pre-fabricated.“Either way the consensus is that a site like this so close to Eastern Beach, right on the doorstep of the Geelong CBD is not an opportunity to let slip by.”While someone in the crowd tried on a $600,000 opening bid, Mr Poustie kicked off the auction with a $1 million vendor bid.Three hopeful buyers raised a hand at the auction before Mr Poustie declared the property was on the market at $1.3 million.The eventual buyer then entered the race, taking the bidding to $1.325 million.Mr Poustie said it was clear the property had “seen better days.”“I think the affordability to be able to buy so close to the water, so close to Eastern Beach where you’ve got $3 million homes within 30 metres lends itself that its going to be an exciting site,” he said.“I think someone is going to do something special here.”The property sold to a buyers with interests in the street.