An international race car driver has just snapped up a $1.6 million property on Mount Panorama.
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Raine and Horne Bathurst director Grant Maskill-Dowton is finalising the sale of the 7-hectacre property at 489 Conrod Straight, which hit the market earlier this year after being held by the same family for nearly a century.
He confirmed that an Australian driver who now lives in the United States of America had purchased the property, with negotiations occurring after the property failed to sell at auction.
They have raced in the Bathurst 12 Hour and attend race meetings at Mount Panorama regularly, which motivated them to secure a slice of the Mount for themselves.
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It is understood that the driver has no intention of developing the property for anything other than residential purposes.
"I believe they will do some renovations and modifications up there and create it basically as their Australian residence," Mr Maskill-Dowton said.
"... I think he'll have family stay there. He is originally from Australia, so he will have family and that reside there as well."
To have someone from overseas buy the property says a lot about the reputation of Mount Panorama and Bathurst as a whole.
It is also representative of a trend that has been emerging in Bathurst regarding higher-end properties.
"It's impressive that Bathurst is still attracting that sort of calibre of buyer," Mr Maskill-Dowton said.
"Mount Panorama has been a huge drawcard, but ... in the last month to six weeks I've seen more million dollar plus transactions happening in our area than I've ever seen in the 20 years I've done real estate."