Glen Cairn Ave, Ringwood home for sale with development expected
A DILAPIDATED home on a one-of-a-kind block at 15 Glen Cairn Ave, Ringwood, is expected to smash the Ringwood median house price at auction on Saturday, November 26.
Owned by the one family for 45 years, Ray White Croydon senior sales executive Dennis Lim said he anticipated a figure beyond $1.1 million, a cut above the suburb’s $875,000 median.
“The 1943sq m block is the only block of the size on the street,” he said.
“Within 500m of this property, the last sale of a large block was a 1597sq m property in 2010 at 16 Wingrove Place, Ringwood,” Mr Lim said.
Its vendor, Eastside Bus and Coach Services managing director Geoff Limmer, believed the large plot may have been part of the vast orchard owned by Peter Vergers, a councillor of Ringwood until the early 1970s.
“Certainly the area to the west of Glen Cairn Ave ... right down to Mullem Reserve was part of the Vergers’ orchard,” Mr Limmer said.
Mr Lim said council had advised it was possible to subdivide the block into four lots.
“I’ve had buyers looking either to develop it to its full potential, or to develop a single, large home,” he said.
“Others have expressed interest in retaining a single lot for themself, and selling the remaining land.”
SEE SUBURB PROFILE: RINGWOOD