Real Estate

Melbourne party buy Torquay property to create dream home

Written by The ReReport
As seen in the Source link, written by on 2018-12-12 07:02:41

A 1950s beach house will make way for a family’s dream home in a sought after Torquay location.

The Melbourne buyers purchased the house at 16 Cowrie Rd straight after auction for $1,237,500.

Hayden, Torquay agent Patrick Hayden said there was strong bidding from two parties up to just under $1.2 million before they passed the property in and negotiated a bit higher.

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“The buyers are from Melbourne and they are planning on building a new family home there, they will knock down the house eventually,” Mr Hayden said.

“They were attracted to the spot because of the location, it is just up the road from the beach, that pocket is very quiet and it is walking distance to the park and shops.”

The large two-storey family home has the kitchen and meals area, formal dining area and loungeroom on the ground floor and four bedrooms upstairs.

The 701sq m block provides a lot of potential.

The median house price in Torquay has jumped 12.5 per cent in the past year to $810,000, according to CoreLogic.