Four bidders in hunt for rundown Geelong West house

Four bidders in hunt for rundown Geelong West house

A GEELONG couple has paid more than $100,000 over reserve for the chance to put their own stamp on an unrenovated Geelong West house.

The tired weatherboard home at 3 Tayler St sold for $662,000 under the hammer on Saturday.

Competition from four bidders pushed the result well above the reserve, which was set around $550,000.

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Buxton agent Julia Warren said the three-bedroom house — owned by the same family for more than 100 years — was a rare find.

“There are so many people that want something like this and they are few and far between,” Ms Warren said.

“With the access and the block you have the chance to start again.”

A generous 16m frontage and rear lane access in a quiet street close to Pakington St were key attractions of the property.

Melbourne buyers’ advocate Cate Bakos bid for the house on behalf of the new owners.

She said while the sale price may have not been justified for developers or those looking to make a profit from a quick flip, her clients look a long-term view as they planned to renovate and live in the house.

“We chose this area because they absolutely love Pakington St and they really wanted that period character,” Ms Bakos said.

“Geelong West has really become a standout performer.”

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