A 1970s custom designed home in Highton has sold $137,000 over the odds at auction.
The four-bedroom residence at 5 Melrose Ave sold for $1.37 million at Saturday’s auction after attracting bids from four separate groups.
McGrath, Geelong agent Mergim Ibrahimi said all the buyers were owner occupiers hoping to score the rare opportunity in the dress circle old Highton location.
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The two-storey residence enjoys an incredible north-facing vista that allows residents to look directly along the Barwon River toward Newtown and a panorama overlooking central Geelong and Corio Bay.
The contest opened at $1.05 million and took seven bids between two groups to reach the $1.2 million reserve.
Mr Cortous revealed the price guide had been increased during the campaign due to the overwhelming interest.
Four hopeful buyers locked down in Melbourne had registered to bid through the Auction Now platform — although only one participated, while three placed bids in the crowd.
Three bidders had done most of the running in the auction before the eventual buyer entered the race at $1.355 million.
Mr Ibrahimi said it was a beautiful home.
“It’s a location that attracts the type of buyer that’s also looking in Newtown and also looking around the river,” he said.
“It makes it hard to price, you just never know.”
Mr Ibrahimi said all the hopeful buyers were looking to the home as a permanent residence.
Mr Cortous said the house offered million-dollar views, with a resort-style yard including a swimming pool.
Set over two levels, features included formal and informal open-plan living spaces on the ground floor.
Upstairs, a large picture window frames the panoramic view in a room with a cathedral ceiling.
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