Hot day, hot market with stunning Lorne auction result

THE sweltering 40-degree heat in Lorne on Sunday didn’t deter a good crowd from turning out for the auction of 22 Clissold Street, where to the vendor’s delight, their property sold for $360,000 over the $2 million reserve.

Despite the very hot conditions, two main bidders exchanged $10,000 bids from the opening bid of $1.9 million to the final $2.36 million knockdown bid.

Great Ocean Properties director Marty Maher conducted the auction and said that it was a tremendous result for the vendors.

“The property generated a great amount of interest due to the unique opportunity to create a small four-five lot development site, of which there are very few like this left in Lorne.

“The property was being sold as a deceased estate by the beneficiaries and has a long local history in the area.

“The Babbington family have a long rich history in the Lorne area, and as a company we felt very pleased to be part of this chapter.

“There were many relatives onsite to see the sale of the property of which many have fond memories, it was a great result for all of them,” Mr Maher said.