Torquay vacant block sells for $3.55m

A VACANT block in Torquay close to the beach has been sold at auction, selling for more than $3.5 million.

McCartney Real Estate auctioned the land at 3 Park Lane on Saturday, describing the 1,011sqm block ahead of the auction as “a rare coastal opportunity with potential ocean views from a second storey”.

The agency stated the new owner would “secure a once-in-a-lifetime allotment in one of Torquay’s most desirable locations”.

 

More than 60 people attended the auction, which attracted 15 bids.

Auctioneer Geoff Bennett brought the hammer down with a winning bid of $3,550,000, which was at the higher end of the expected price range.

 

McCartney Real Estate director Tim Carson said the successful bidder was a Torquay property owner who was looking to build his forever home.

“For us to make the top end of the range, we’re quite happy.

“That is arguably the best spot in Old Torquay. Blocks like that just don’t come up very often.”

 

The auction started at $3 million on a vendor bid and proceeded from there.

“It was quite tough going early, they really made the auctioneer work for it,” Mr Carson said.