A WENDOUREE Parade property with potential was passed in at auction today.
Real estate agent Robert McClure of PRD Ballarat said about 100 people attended the noon auction but there was still only one vendor bid of $1.2 million.
Mr McClure said the house was now for private sale for $1.35 million, with discussions underway with several interested parties.
He said the property included a comfortable, older style home but its main attraction was the 1200 metre block of land it was situated on, particularly with its Lake Wendouree frontage.
"A big plus is the 1200 metre block and you can pull the house down if you want because there's no heritage overlay on it," Mr McClure said.
He said another advantage was the property was also close to Ballarat Grammar School and Wendouree shops.
The house is for sale by both Mr McClure at PRD Ballarat on 0418 508808 or Andrew Lewis of Colliers International at 0418 508908.