Small house for sale at auction attracts a lot of attention in South Warrnambool | The standard

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A one-bedroom property on a small block south of Warrnambool has generated so much interest that auction agents have revised the price guide. Harris and Wood, real estate agent Matthew Wood, said 4 Elliott Street, which presented a “rare opportunity” for people to enter the tight South Warrnambool market, would be auctioned this month. He said the one bedroom and one bathroom property, located on a 430 square meter block, could be renovated or demolished to make way for a new home. Mr Wood said he had been inundated with inquiries, including three from Melbourne-based estate agents, developers looking to establish vacation rentals and “many local moms and dads who realize this is a great place “. He said there was very little land available in the area and it was a good location. “This is a rare opportunity to buy in South Warrnambool,” said Mr. Wood. “It’s within walking distance of the CBD, you have the Thunder Point Coastal Preserve, the Merri River, the Rail Trail, the Pertobe Lake Recreation Area, biking and walking trails. I think that’s the one of the most livable areas in Warrnambool. ”Harris and Wood sold a three-bedroom house near 16 Stephens Street for $ 930,000 in an online auction last month. He said offers for 4 Elliott Street had already been made, which had been rejected and the price guide had been updated. “It’s changed.” Mr Wood said. “Initially it was $ 300,000 to $ 330,000, but because we had offers, with the information statement if the owner rejects an offer, you have to reflect that in your information statement, so now our price guide is $ 365,000 to $ 405,000. ”He said the final sale price would reflect the high demand they were seeing from buyers for the property. Mr Wood said that the interest of subway estate agents wishing to buy in Warrnambool “has recognized that it is an excellent destination”. “Where are the buyers coming from who knows,” Mr. Wood said. “It’s a great cross section of buyers.” The property is open for inspection on Sunday at 11 a.m. (parties must register). It will be auctioned on Saturday August 21 at 12:30 p.m. on site.

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