Farming family has eye on future Belmont development after kids finish school
A THREE-bedroom Belmont home provides a significant upside for a farming family preparing to move off the land while their school-aged kids complete their education.
While the buyers of the 704sq m property with elevated views at 7 George St, were heading to suburbia, the plan’s ultimate goal will see the full potential of the dual street frontage and residential growth zoning realised once the kids are older.
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It was this feature of the property that Buxton, Highton agent Tony Moorfoot concentrated on in the auction that opened with a $650,000 vendor bid but ended quickly with a $760,000 sale price.
“These are a rare find,” Mr Moorfoot said.
“Dual street frontage in the heart of Belmont. It’s a 704sq m property on George St with Herd Rd right behind. High St just up the road, literally walking distance.
“There are endless possibilities. You’ve got a beautiful home, you could renovate, extend, go up there options are there.
“You can keep the home, put some townhouses behind it or knock the whole thing down and use it as a townhouse site with the residential growth zone, all subject to council approval.”
It didn’t take long for two buyers to enter the race, with $10,000 bids quickly surpassing the $630,000 to $680,000 expectations.
When Mr Moorfoot drew breath as the price hit $720,000 to reveal the property was well and truly on the market, buyer’s advocate Tony Slack, with phone to his ear, changed tack with $5000 increments but soon maxed out his client’s limit.
This solid double brick construction is ready to move straight in with new carpets, a renovated central bathroom, formal lounge with open fireplace and polished floorboards, plus separate study/office and under house storage.