Gartland Property, Geelong agent Nathan Ashton auctions 19 Board Place, Geelong. Picture: Peter Ristevski
AN UNINHABITABLE house in a prime inner-city Geelong location was snapped up for $100,000 above reserve at auction.
The cracks in the walls, dirt and food on the ground, grime covering everything and a timber beam supporting the roof in the middle of a room did not deter two parties from bidding for 19 Board Place.
Bidding started on a vendor bid of $650,000 before two parties competed and one secured the 434sq m property for $815,000.
Two parties bid on the property. Picture: Peter Ristevski
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Gartland Property, Geelong agent Nathan Ashton said the property was left to the hospital when the former owner died and they had been holding onto the property ever since.
The house, that squatters have lived in, will most likely be knocked over, according to Mr Ashton.
The site has so much potential.
“The buyers will most likely develop the site, they could put two townhouses on it,” he said.
“There is so much potential, it is a really wide site and it is in the heart of the CBD.”
The property is positioned just off Little Malop St between Bellerine St and Swanston St and is walking distance to shops, restaurants, the waterfront and hospitals.
The median house price in Geelong has increased 7.1 per cent in the past year to $727,500, according to CoreLogic.