Torquay rural holding draws large crowd

THE insatiable demand for rural holdings close to Torquay show no signs of abating after an exceptional result at Richardson Real Estate’s auction of 935 Blackgate Road over the weekend.

Smashing past the record of $11,000 per acre set by the neighbouring 163-acre property only months ago, this 151-acre farm without a dwelling realised $14,867 per acre, selling for $2.245 million.

The auction got under way in front of a large crowd with a first bid of $1.5 million to be quickly joined by four keen bidders who soon pushed the price through the $2 million point to see the property knocked down to a very excited family from Ballarat.

Richardson Real Estate director Will Richardson said that there was exceptional enquiry on this property on the back of the sale of the neighbouring property the agency sold over summer.

“We had over 60 inspections with many of those looking to build a family home on some acres.

“This property has a wonderful aspect with generous road frontage, power connected and on a quiet road yet so close to Torquay.

“We continue to field a great deal of inquiry for this type of land as there as there are limited acreage properties coming to market.”