Buyers fail to tee off at Cowes’ auction

A GENEROUSLY large residential block, nicely located across a quiet road from the Phillip Island Golf Club failed to sell at auction last Saturday, December 16.

Rated by experienced local real estate agent Greg Price of Alex Scott and Staff as “arguably one of the best located vacant blocks on Phillip Island”, it also boasts an excellent frontage of 21.52m and a level, easy-to-develop profile.

The property went up for auction at 2pm last Saturday, attracting about 15 people, but only one of them willing to make a bid.

The action started with a low bid of $400,000 after which Mr Price declared a vendor’s bid of $450,000, noting that his client was motivated to sell, and that the property was there for genuine sale on the day.

However, with there being no further bids, Mr Price passed the property in and held discussions with the bidder later.

No sale was achieved on the day but according to Mr Price the auction created interest and he remains hopeful of a closing a deal on the site soon. The target price is believed to be $650,000 and above.

The home next door, at 300 Coghlan Road is also available for sale.

For more information contact Greg Price at Alex Scott and Staff on 0419 337 441 or contact the Cowes office of Alex Scott & Staff on 59522633.