House and units to make way for Aspendale dream home by the beach
A rare beachfront block will be the site of a new dream home in Aspendale after it made waves with a buyer.
Four properties are set to be demolished at 9 and 11 Hearle Ave, after they passed in at auction and sold in private negotiations for $3.25 million.
Hocking Stuart Mentone agent Garry Donovan said the 1970s family-sized house and three one-bedroom units passed in after a single bidder dived in with a $3.05 million offer.
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“There were two other parties interested, but the person who put their hand up on the day ended up getting the package,” Mr Donovan said.
“They’re planning to build a prestige dream home on the land.”
The large 663sq m block offered 24.7m of beach frontage, which Mr Donovan said was a rare opportunity.
“It is so unusual and it means you can build your house right along the coastline,” Mr Donovan said.
“Normally these properties don’t come on the market, so this is this a chance to get into one of the most tightly held corridors in Melbourne.”
The vendors have owned the properties for about 10 years which earn $65,000 in rent a year.
Mr Donovan said the buyer could keep leasing them as a revenue source while finalising their own building plans.
The property was sold just weeks after a sprawling block two doors down set a new suburb record.
Three houses on a 3031sq m block at 32-33 Nepean Highway sold together for $6.7 million at auction last month.
A new dream home is also expected to replace the tired homes.
SUBURB PROFILE: Aspendale
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