Sheedy St, Gisborne, property bought after auction by developer for $882,500
A TWO-horse race for a Gisborne property between a pair of developers has finished with an exceptional $882,500 sale price, according to a local agent.
SEE SUBURB PROFILE: GISBORNE
Raine & Horne Gisborne’s Robert Hall said the four-bedroom house on a 4000sq m allotment with subdivision potential at 96 Sheedy Rd originally went to auction with a reserve price of $790,000.
“It was passed in and sold a week later for $882,500 to a developer from Newport,” Mr Hall said.
There was fierce competition between the buyer and another developer from Sunbury, he said.
“Both parties, who did not attend the original auction, went head-to-head during negotiations,” he added.
The owners had lived at the property for about 30 years and were thrilled with the result, according to Mr Hall.
They plan to downsize to a smaller allotment in Gisborne, while the buyer intends to subdivide the property, he said.
The property was in good area, near schools, shops, cafes, the aquatic centre and sports grounds, Mr Hall explained.
It also had easy access to the Calder Freeway and came with a large shed, tennis court and side access for a caravan, boat, trailer or trades vehicles.
Larger properties in Gisborne and Riddells Creek were increasingly sought-after by owner-occupiers and developers, according to Mr Hall.
These suburbs were popular because of the country lifestyle and their proximity to the city, he said.
“The active market in these areas should continue through to early next year,” Mr Hall predicted.
And three owner-occupiers competed for a five-bedroom house on a serene 12.55ha allotment at 320 Gap Rd, Riddells Creek, according to Mr Hall.
A family from Prahran who were looking for a hobby farm with easy access to the CBD bought the home for $870,000.
Mr Hall said the property was in the foothills of the Macedon Ranges and came with a creek, sheds and a dam.
The house had multiple living areas, a cellar, and an elevated veranda with views of bushland and an orchard, he said
The owners who were moving closer to Melbourne were happy with the outcome, Mr Hall added.
SEE SUBURB PROFILE: RIDDELLS CREEK
In Sunbury, a first-home buyer from out-of-town paid 288,000 for a two-bedroom unit at 3/49 Pasley St.
Brad Teal Sunbury’s Karen Muir said there was plenty of interest in the rare and affordable offering.
It was at the back of the three-unit development, had the largest backyard and was walking distance to town, Ms Muir said.
The tenanted unit was about 30-years-old and in original condition, she added.
“The owner, an investor who lived locally, was pleased with the result,” Ms Muir said.
SEE SUBURB PROFILE: SUNBURY