THERE are many tricks of the trade when it comes to selling a property. Cosy is a good term for small, warm probably means no air conditioning, but for this property in Newington, there's only so many ways you can spin it.
Possibly Ballarat's most dilapidated home, a property in Queen Victoria Street has hit the market, and if you're prepared to put in the work - and we mean a LOT of work - it could turn into gold for an investor or a family looking for their new home.
The heritage overlay property, on a 520sq/m block, could be yours for a song with an expected sale price of around $300,000.
Putting it bluntly, it's a renovators delight.
The two bedroom home, which could be upwards of 100 years old still has an old school charm, you just need to look really hard and dig through a lot of garden to find it.
Selling agent Tim Veal said it was understood the property had been vacant for up to three years.
"The current owners had purchased this with an intention to restore it, they had some building plans approved, but it hasn't matched with their plans and they've decided to move on, which is why it's come back on the market," he said.
"There is a heritage overlay, but you could definitely extend all the way out the back which is ideal on the north-facing block.
"It really does lend itself to someone who wants to restore the home and someone wanting it for their home. The location is outstanding."
Mr Veal said the property, which had only been advertised since last Saturday had already had more than 30 inquiries and at least 20 groups of people going through.
He admitted it was the most dilapidated he had seen in his five years of selling properties in Ballarat.
"This is in the worst state we've had," he said. "But the location is ideal for a home, the elevation of the blocl the north facing backyard, it lends itself to a nice home if you're prepared to put in the work."
He said interest had been from both Melbourne and Ballarat buyers.
"Of the 600 properties we sold last year, 40 per cent would have been to Melbourne folk, with many of them who are now living here," he said.
"You'd probably at least double the price, $650,000-$700,000 with the equivalent land in Melbourne. You go back a number of years and you look at places like Kensington which have really gone ahead with tiny blocks that are nothing compared to this.
"With the infrastructure we have in Ballarat and now with the upgrades to the rail line and connections to the airport, we will become a commuter city. It's a great opportunity."
The property is slated to be auctioned on May 4, however it is also open to private sale before that date.
The listing can be viewed online at Domain, to view the listing and details of the property, go here.
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