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House on tiny block near CBD sells on Saturday afternoon
By David Fitzsimons
A front yard bidding war has seen a house on one of the smallest blocks of land in Orange sell above its expected price on Saturday.
Three parties placed a total of 19 bids to see the property sell after the auction started with an opening bid of $400,000.
The three-bedroom house is on a block measuring just 236 square metres.
The Summer Street house near the Five Ways intersection just a few minutes walk from the CBD had a price guide of $570,000.
However, eight bids above that price saw it sell for $604,000.
Selling agent Alistair Miller of Professionals Orange said he was delighted with the result.
“This is top dollar,” he said. “The price guide is just that. You never know where you are going to end up.”
Miller said it showed the Orange market was still strong.
He said the winning bidders, who were not present but instead gave their bids over the phone to a woman acting as their bidding agent, were local investors.
Miller said he expected they would undertake a renovation on the property before a future use.
When asked if the house could become an airbnb short-term rental property, he said it was possible.
Miller said one of the other two bidding parties had planned to live in the home.
He said the property, while small, was in a great location and offered low maintenance to the buyer.
The property, 373 Summer Street, is right by the former Five Ways Congregational Church, for which a development application has been lodged with Orange City Council for conversion into a restaurant/bar.
Auctioneer Michael Corcoran told the crowd of about 25 people on site the property was in a “highly sought after location” and offered “easy-care living.”
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