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.
The 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.
The main house has luxury features.
The 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.
The 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