Real Estate

horse property sets new record with pre auction sale

Written by The ReReport

A PRE-AUCTION offer of about $5 million was enough to land a top-class equestrian property with resort-style features in Merricks North.
The last-minute deal for 111 Bittern-Dromana Rd was sealed before the scheduled October 28 auction.
The October 27 result was a record for a residential property in the tightly held suburb, with the previous top sale of $4.505 million for 134 Bittern-Dromana Rd in 2016.

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The riding arena is large and floodlit.

111 Bittern Dromana Road Merricks NorthThe resort-style pool, landscaped gardens and outdoor entertainment area.

The buyer from the Mornington Peninsula will continue using the property mainly for equestrian pursuits, Link Property director Lisa Fraser-Smith said.
It is a picturesque acreage with a fully renovated and extended house and a separate self-contained cottage and premier equestrian amenities.
The 13ha property last sold for $2.65 million in 2011, sales records show, which means it has gained more than $2 million in seven years.
The property attracted interest from local and interstate buyers, with price hopes above $5 million and was one of just four privately-owned peninsula equestrian properties with an indoor arena, Ms Fraser-Smith said.

111 Bittern Dromana Road Merricks NorthThe main house has luxury features.

111 Bittern Dromana Road Merricks NorthThe property has multiple stables.

She noted such equestrian properties rarely came on the market and that the property was sought-after by keen dressage competitors and also convenient to competitions at Boneo Park which offer a pathway to the Olympics.
The owners of eight years had made improvements and additions to the property. The amenities include a floodlit indoor arena, six American-style stables, tack rooms, paddocks and sheds.
Resort-style features include an inground solar-heated pool, tennis court and a children’s playground.

30 Hunts Road BitternThe luxury kitchen at 30 Hunts Rd.

Meanwhile, in an auction that went ahead on October 28, 30 Hunts Rd, Bittern fetched $1.42 million with three bidders competing.
Ms Fraser-Smith said that 2.02ha property sold just above reserve and had a sought-after location.
It has four bedrooms with two living areas, a gourmet kitchen, fireplace and a large separate children’s playroom or office. It also features a dam, four paddocks and a large shed.

SUBURB PROFILE: Merricks North

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