A VACANT Lake Wendouree block with pre-approved planning permit for a dream home has sold for 1.485 million on Saturday to a couple seeking to return to Ballarat.
The Victoria Avenue property, just off Wendouree Parade, was one of the first on-site auctions in the city since lockdown.
Bidding opened at 1.35 million with three on-site bidding parties and one bidder online for the McGrath auction. There were 12 bids made in a competitive show for the property.
This is the second major block in the lake precinct to sell within months, following a Wendouree Parade lot that sold just shy of $2 million via Jellis Craig.
The winning bidder for the 776 square-metre Victoria Avenue property originally hails from Hamilton and went to boarding school in Ballarat. He had been looking for a property to move with his family from Melbourne to Ballarat.
McGrath Ballarat real estate agent and co-principal Daniel Nestor said the buyers intend to build the plans already outlined for the property.
Mr Nestor said the sellers had a view to build the home close to the lake but, in the meantime, had found a house they loved in Nerrina and planned to say there.
"We ran a six-week auction campaign, which is a little longer than normal because of lockdown and the potential another lockdown might occur," Mr Nestor said.
"...As restrictions ease hopefully it will open the opportunity for more properties to go back to on-site auction but this hybrid model, with bidders online in the comfort of their homes, has set a precedent in a new way of real estate.
"It looks to be a thing of the future. Lots of things have change in the pandemic and it looks like auctions will go this way moving forward."
McGrath auctioneer Matthew Edwards also sold a Glenelg Highway property in Scarsdale via auction on Saturday afternoon for $320,500.
REGIONAL SALES RESULTS
- Data: Real Estate Institute of Victoria
PS Alfredton Dr 820sqm $680,000 Jellis Craig
PS Anton Dr $700,000 Ballarat Real Estate
PS Balanada Close 116sqm $400,000 Ray White Ballarat
PS Canopy Av 383sqm $515,000 Ray White Ballarat
PS Dromana St 585sqm $660,000 Wilson Estate Agents
PS Dyson Dr $600,000 Ballarat Real Estate
PS Mia St $420,000 PRD Nationwide
PS Sydney Way v/land $344,900 PRD Nationwide
PS Townsend Ct 619sqm $520,000 Jellis Craig
PS Drummond St North $1,650,000 Jellis Craig
PS Ripon St North $692,000 Ray White Ballarat
S 1007 Lydiard St North 1033sqm $670,000 Trevor Petrie RE
PS Cathcart St v/land $310,000 Ballarat Real Estate
PS Savage Hill Rd v/land $260,000 PRD Nationwide
PS Fells Gully Rd $617,500 Ballarat Real Estate
PS Briardale Av $752,500 Ballarat Real Estate
PS Cinnamon Dr $710,000 Jellis Craig
PS Elmstone La $525,000 Ballarat Real Estate
PS Sunraysia Hwy $320,000 Ballarat Real Estate
PS Geelong Rd $425,000 Ballarat Real Estate
PS Mansfield Av $600,000 Ballarat Real Estate
PS Geelong Rd $465,000 Ballarat Real Estate
PS Mayfair Ct $625,000 Ballarat Real Estate
PS Bond St $580,000 Jellis Craig
PS Elsworth St $502,000 Ballarat Real Estate
PS Heales St $660,000 Ballarat Real Estate
PS Eyre St $550,000 Jellis Craig
PS Malaoff St $535,000 Ballarat Real Estate
PS Adair St $432,000 Ballarat Real Estate
PS Brays Rd v/land $850,000 PRD Nationwide
PS Tilligs Rd 20200sqm $835,000 Jellis Craig
PS Albert St 315sqm $368,000 Ray White Ballarat
PS Cromwell St $322,000 Ballarat Real Estate
PS Jenkins Dr $515,000 Ballarat Real Estate
PS Patroit Cr v/land $260,000 Ballarat Real Estate
PS Reynolds Pde $499,900 PRD Nationwide
PS Armstrong St North $625,000 Ballarat Real Estate
PS Ligar St $315,000 Ballarat Real Estate
PS Dowling St $1,310,000 Ballarat Real Estate
PS Grevillea Rd $390,000 PRD Nationwide
PS Marie Cr $480,000 Ballarat Real Estate
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