Reno delight tops out at $1.4m
OLD Torquay continues to come up trumps for those looking to sell with an original classic beach shack, in need of work, selling prior to auction sight unseen for $1,400,000 as city-based buyers head off auction competition.
Wanting to escape the city or invest in Torquay after missing out at previous auctions, many city-based buyers are jumping the gun on the auction process providing offers vendors just can’t resist.
Hayden Real Estate accepted the offer on behalf of the vendor for 13 Grandview Road prior to auction from Melbourne-based buyers who did not physically view the property.
Selling agent Brent Hartigan said this property attracted an enormous amount of enquiry, so it was no surprise a decent offer was presented prior to auction.
“This is a record price for this street considering this is effectively land value,” Mr Hartigan said.
“We had over 12,000 views online and sent out 15 contacts with five offers on signed contracts returned.
“It’s proving very difficult to purchase property in the older areas of Torquay, competition is fierce, and vendors are not wanting to leave the town.
“This is driving prices up, the dream for many is to be close to the water.
“13 Grandview Road is in such a peaceful and beautiful location only moments from the sand.”
Grandview Road is now one of Old Torquay’s preferred hotspots when it comes to buyers looking to upgrade or buy their first beach home.
Properties rarely come to market with only four listed properties transacting in 2020 and this recent sale a first for 2021.Of the four Grandview Road sales last year, two were private transactions with the other two being sold by agents.
McCartney Real Estate sold an established family home at 17 Grandview Road for $1,100,000 in September last year, and Hayden Real Estate sold an older style 1970s home at 77 Grandview Road for $745,000 in April last year.
All properties had a similar lot size of 597m2 which is common for Grandview Road.