Builder’s own coastal renovation scores $815k uplift in value

This builder’s own home at 12 Somerdale Ave, Ocean Grove, sold for $1.4m.

A builder’s own renovation has added more than $800,000 to the value of a entry-level home bought in the midst of Covid lockdowns.

Three out of town buyers drove competition for ATLA Construction’s coastal inspired revamp of 12 Somerdale Ave, Ocean Grove, with one paying $1.4m to take the three-bedroom house off the market.

The result beat top price hopes of $1.395m and sets a new benchmark for a street that only notched its first million-dollar sale earlier this year.

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ATLA Constructions transformed the former two-bedroom house.

It’s unrecognisable from when it last sold in 2020.

Records show the house last sold for $585,000 in July, 2020.

Fletchers, Ocean Grove agent Dan Halsey said one of the owners of ATLA largely rebuilt the existing residence at the 633sq m property to create his own family home.

A new pavilion housing a light-filled, open-plan living zone featuring engineered oak floors and cathedral ceilings, a study nook and a main bedroom suite is the centrepiece of the renovation.

“Originally it was just a little two-bedroom, single living, single bathroom, it was tiny,” he said.

“They did keep the brickwork from that original build but they pulled out the roof, they pulled back the walls to the studs. They kept one of the wet areas but it was essentially a brand new build – about 80 per cent of what you saw was new.”

The kitchen has a Smeg wall oven, Westinghouse induction cooktop and a butler’s pantry.

An brick open fireplace sets the scene for entertaining in the landscaped garden.

Timber accents feature in the main bathroom.

A single garage and a brick paved entertainment area with an outdoor fireplace were among other fresh additions.

Mr Halsey said the renovation attracted not only buyers from Ocean Grove, but also Geelong and Melbourne.

The sale was wrapped up before the third scheduled open home, with the Melbourne buyers planning a permanent move.

“It was an extremely stylish and well planned an executed home and so close to the beach,” he said.

The average time on market for homes in Ocean Grove is 72 days according to PropTrack, which has led to complacency among some buyers when good stock is listed.

But Mr Halsey said the tide could be starting to turn after two years of a buyers’ market.

“What we are finding over the past couple of months is the reintroduction of holiday home buyers and investors, largely from out of town,” he said.

“They are coming back and they are putting a bit of pressure on the locals.”

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