Competing builders push East Geelong home $120k over reserve

A modest East Geelong character home sold $121,000 above reserve as two builders battled to lock in their next project.

Neighbours will have to watch this space to see what improvements are in store for the three-bedroom house at 209 McKillop St.

It sold under the hammer for $781,000 at auction, smashing $649,000 to $679,000 price hopes.

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209 McKillop St, East Geelong, has changed hands for the first time in 15 years.

The front lounge displays original period features.

Buxton agent Ian Nichols said the fact the house was the only one in the immediate strip yet to undergo a major renovation or development drew four bidders to the 407sq m property.

“It was a great result and it was just two builders fighting it out so they probably saw different value to homeowners,” Mr Nichols said.

“They had a building inspector look at it and it needed a lot of love but it had good bones.

“Next door is going through a renovation at the moment, on the other side there’s townhouses that aren’t that old so it’s the last one to be done of the three.”

He said both builders had different plans for the north-facing property with rear lane access to a double carport.

The kitchen was part of a rear extension some time ago.

The north-facing living area overlooks the grassy back yard.

“There has not really been many houses with that ability to do something like that,” he said.

“They’ve already been done or you are paying for something that’s been done and they don’t see the value in it. This one you could strip back and make it your own.”

The Federation-era house retains traditional period features including high ceilings, ornate cornices, polished timber floors and original fretwork.

An open fireplace is the centrepiece of the front formal lounge, which complements a open-plan rear living area and kitchen added some time ago.

Mr Nichols said rear access also weighed in the property’s favour, as did its location just around the just around the corner from the Garden St shopping strip.

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