Several buyers waiting in the wings could only watch as a single bidder snapped up an unrenovated Herne Hill house at auction.
The three-bedroom Bell & Fulton house at 13 Derby Rd sold last Saturday for $465,000.
Harcourts, North Geelong agent Joe Grgic said several buyers had pulled out of the running for the 618sq m property offered for the first time in more than 60 years, while others were conditional buyers unable to bid at auction.
“Our bidder had been looking for a while and had missed out on a couple of properties,” Mr Grgic said.
“It’s such a great position. These people saw the value — and it’s really land value for that spot there.
“They’ll definitely be renovating.
“The house needs a lot of work, so that’s pretty fair and I think it was a good result for our vendors.”
Mr Grgic said it was an estate and the sellers were really happy the house was selling to a family.
“They’ll love it, it’s a good neighbourhood,” he said.
The house is located near parkland and trails in Geelong’s inner west.
It offered three bedrooms, an original kitchen. The bathroom had been renovated to provide disability access.