10 Shelley Ave, Newtown, is for sale but the house must be knocked down.
THE term renovate or detonate is a regular in real estate parlance, but the latter is the only option for this Newtown property.
The 1950s brick veneer house at 10 Shelley Ave is sadly destined for the demolisher’s yard after a fire broke out in the rear of the dwelling.
But there’s a catch — the buyer will have to pay for the home’s removal.
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The 530sq m property will provide a blank canvas with the house removed.
The leafy location is close to Geelong’s prestigious college precinct.
Maxwell Collins, Geelong agent Shaun Carroll said council had deemed the house unfit for occupancy in the wake of the fire.
“The owner can’t afford to demolish it himself, that’s why we’re going down the path to sell it as is,” Mr Carroll said.
“And that’s why we haven’t taken any photos inside and we’ve only taken the drone photos to highlight the land size and the location,” he said.
Buyers will get their first chance to check out the 530sq m property on Wednesday at 5pm, ahead of the auction on November 24.
Once the house is out the way, the block is flat with no easements and a General Residential 2 zoning.
A price guide of $570,000 to $590,000 represented land value in this leafy Newtown neighbourhood, Mr Carroll said.
“It’s a sought-after spot there so close to the schools and they don’t come up often in Shelley Ave as well,” he said.
“It’s going to be for someone doing a development or building a nice new home there. You wouldn’t be able to renovate the house.”
The median house price in Newtown is $790,000, with capital growth relatively steady at 1.3 per cent over 12 months.
The last house to sell in Shelley Ave (and the first in seven years) was an extended four-bedroom clinker brick house, which sold for $770,000 last November.