Wandana auction pulls a crowd, more land released

More than 200 people swarmed to one of Geelong’s most iconic locations recently. The Wandana Heights Lookout is known for having the best views of the city, but this time the crowd was there to secure the view for themselves.

Many Geelong locals would have some unforgettable memories after a visit to the Wandana Heights, now adjoining Drewan Park. Now the lookout takes in land from one of the most prestigious residential estates to come to market in Geelong.

Wandana by Villawood Properties is perched high on the hills above Geelong offering unsurpassed panoramic views over the city and the bay with the estate consisting of 195 lots ranging from 450sqm to 1,267sqm.

Villawood Properties launched the estate’s first lots recently at an auction, with five lots fetching a total in excess of $2.4 million in keenly-contested bidding.

The best figure, $580,000, was posted for a 1046sqm/quarter-acre site by plumber David Lafranci from nearby Waurn Ponds.

Other sales under the hammer saw an 868sqm lot fetch $505,000, a 670sqm lot sold for $430,000 and after a marathon 20-bid battle, a 713sqm block sold at $420,000.

Three other lots were passed in with one selling later for an undisclosed figure. The two others are now for sale at $530,000 and $520,000.

Villawood Properties executive director Rory Costelloe was pleased with the fierce, competition of the auction, particularly for the large, more than quarter-acre lot with its wonderful views.

“It’s setting a new benchmark for greenfield sites in Geelong,” Rory said.

“The secret is out that Geelong is the best place to buy property at the moment.

“Villawood is being inundated with buyers; we’ve sold more than 200 lots at our Armstrong Creek project since the new first home-buyer arrangements came in on July 1.”

The Wandana land auction, Villawood’s first, was driven by overwhelming demand from potential buyers.

It comes as REIV figures show Geelong property price growth outstripping Melbourne over winter.

Census figures also show marked positive change in Geelong’s demographics, industry and workforce.

Successful bidder David Lafranci, his wife Nicole, and children William and Isabella, were excited about their Wandana purchase, already planning to build a two-storey home, an infinity pool, and to take full advantage of the sophisticated new Drewan Park playground Villawood is building nearby.

The Lafranci’s bidding war started at $450,000 and rose to $580,000 in a total of 17 bids, some as small as $1,000.

“The auction was nerve-wracking,” David said.

“I put in the opening bid for the first block but missed that, then our Lot 21 came up and we got it.”

The balance of stage one and all of stage four (totalling 44 lots priced between $199,900 and $520,000) was released to the market on November 11 on a first-in, best-dressed basis.