An investor from Sydney outbid two couples to purchase an architect-designed home in Abbotsford for $1,575,000 at auction on Saturday.
Bidding was initially slow to start for the two-bedroom house at 112 Park Street, with Jellis Craig auctioneer Lee Muddle placing a vendor bid of $1.4 million to get the ball rolling.
One party then offered up a $10,000 bid where the price slowly crept up to $1.47 million before the auction paused for a short break.
When the auction resumed, the first bidder dropped out of the race and another two parties traded bids of $10,000 and $5000 before it was sold under the hammer to the ultimate buyer.
The buyer, who was bidding from Sydney via video call and has plans to rent out the architect-designed home, paid $75,000 above its $1.5 million reserve.
Muddle said the vendors, who are looking to upsize, renovated and extended the stylish two-bedder with the help of Melbourne-based Tom Eckersley Architects.
The two-bedroom house had been renovated and extended by the sellers.Credit: Jellis Craig
It was one of 602 properties scheduled to go under the hammer in Melbourne on Saturday.
In Brunswick West, a downsizer couple relocating from Melbourne’s east to the inner north nabbed the keys to a three-bedroom home for $1.29 million at auction on Saturday.