Big price paid for 1970s beach house as locals vie for Barwon Heads river frontage
THE chance to renovate an original 1970s beach house on a rare Barwon Heads property with a view was too hard to resist for two buyers.
But only one could emerge with the contract for 8 River Parade, offering $1.4 million for the three-bedroom brown brick house on the exclusive north-facing strip overlooking the estuary.
The property had been listed for expressions of interest with a price guide of $1.3 million.
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Bellarine Property agent Levi Turner said it was a rare chance to upgrade to a river frontage in the coastal hotspot.
“I had two offers presented at the end of expressions of interest and it sold to a local family who is looking to better their position and renovate it,” Mr Turner said.
“It was built in the 70s. The family that we sold it for had it since about 1991 (when it sold for $210,000) and it had just been a holiday house.
“It was good to sell it to local people with nice big block there and views and they’re going to fix it up.
The other hopeful buyers were also local, he said.
“It’s a good opportunity at that price to get a view,” he said.
“There’s not many properties with a view in Barwon Heads and that’s why most of the interest was local.”
The original beach house is set on a 885sq m block opposite the boat ramp.
The two-storey house has exposed beam ceilings, a timber veneer kitchen with original appliances and a ground floor rumpus room.
An open-plan family and dining room opened through sliding glass doors to a balcony running the length of the house.
The record on the street is $1.64 million.
The median house price in Barwon Heads has climbed 21 per cent in five years to $900,000, according to CoreLogic data.