It was a top Saturday for real estate in Merimbula and a show of confidence in the market with auction properties generating plenty of interest.
On St David’s Day, Saturday March 1, Merimbula Realty conducted two auctions.
The first auction was “Shannon’s Point” at 12 Otway Close.
This one acre property with over 160 metres of frontage to Merimbula Lake is a magnificent allotment in a pristine location. Improvements on the property included a 2 bedroom, 2 bathroom home with a freestanding studio or guest accommodation. The marketing campaign attracted over 60 groups to inspect the property and there were a large number of registered bidders. Auctioneer, Gary Collins, called for bids and after some competitive bidding, the property was sold under the hammer for $942,000. Both vendor and purchaser were very happy and after 46 years in the same family, “Shannon’s Point” has a new owner.
The second auction was at 4 Hill Street, Merimbula which is an original style 1967 built cottage on a 925sqm block of land in the Longpoint area. The marketing campaign also attracted a big interest with over 70 groups inspecting the property and 15 potential buyers registered to bid. Once again, Gary Collins called for bids.
The bidding was fast and competitive with several bidders fighting it out till the end. The eventual result drew a huge cheer from the crowd and saw the home sell for $502,000. The purchasers were ecstatic with the result and the vendors, who were also very happy, commented “Auctions, they really do work!”