495 Bacchus Marsh Rd, Lara
Owners of a transport business have cemented their move to Geelong after securing a small acreage property at Lara.
The buyers, who moved to Geelong last year and had been renting near the city centre, paid $1.15 million for the 1.75ha lifestyle property at 495 Bacchus Marsh Rd, selling agent Peter Norman said.
The Hayeswinckle, Lara agent, who handled the sale with Miranda Williams, said the price netted a $52,000 premium on the top of the price range for the property, which is at the intersection of McNeil Court.
495 Bacchus Marsh Rd, Lara
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It was initially listed in March, ahead of the first COVID-19 lockdown, with a price guide of $1.175 million to $1.275 million.
Price hopes were adjusted to $999,000 to $1.098 million in the wake of the pandemic.
Mr Norman said the corner property offered land banking potential as the site was located within Geelong’s North and West Growth Area, where the city’s next suburbs will be developed.
495 Bacchus Marsh Rd, Lara
“It was quite a small property on that corner allotment. The house has three bedrooms and a swimming pool,” he said.
“There were four buyers and there was competitive bidding.”
Mr Norman said the buyers saw it as their dream home.
It’s the latest of several properties to sell in the area, include a 2ha property use for caravan storage at 455 Bacchus Marsh Rd, which sold for $1.02 million in April, a four-bedroom house with panoramic You Yangs views at 60 McNeill Court, Lara that netted $1.022 million in July and four-bedroom lifestyle manor on a 1.82ha property at 45 Houston Rd, Lara, which sold for $915,000, also in July.
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