Faith in auction pays a premium as Tungamah church tops reserve

Faith in auction pays a premium as Tungamah church tops reserve

A regional Victoria church has drawn a flock of buyers and rewarded it’s owners for putting their faith in an auction.

While the former Uniting Church at 5 Barr St, Tungamah, had plenty of people interested online — just two groups had inspected it before auction day.

RELATED: Historic Ceres church up for grabs as buyers baulk at auction

Divine St Kilda West church conversion soars to multimillion-dollar record

Despite this, five bidders turned up to the auction, according to Elders Real Estate’s Rod Leslie.

The auction started with a $60,000 vendor bid shortly after a $20,000 low-ball offer was rejected. It was called on the market at $80,000, eventually selling at a 15 per cent premium.

“It sold better than expected at $92,500,” Mr Leslie said.

Bidders came from as far as Melbourne to pursue the unique property, but in the end it was a group of locals and a couple from Trentham who bought the church as a consortium.

“I think that they will convert it to a residence and it will be a lodge that they all share and use,” Mr Leslie said.

An hour away at 15-19 Anderson St, Undera, the former St Joseph’s Church, set on a 4000sq m, was unable to find a buyer at auction.

Youngs & Co agent Les Young said there were no bidders in the crowd of 60, but all the church pews sold for about $200 each in a clearing sale after the main event.

It’s now for private sale with a $165,000 reserve.

— with Jayitri Smiles

Source link