Kilcunda ‘lifestyle’ property sells for $1.9 million

REAL estate agents might have to reassess the value of other rural and lifestyle properties close to the coast, in Bass Coast and South Gippsland, after 7.3 hectares (18 acres) sold at auction last Saturday, January 14.

Other details they might like to factor in is that while there were reportedly three people keen to buy the property, located on the fringe of Kilcunda, effectively only one person bid on the day.

Greg Price of Alex Scott and Staff was the auctioneer at the 12 noon sale, and he acknowledged the long-standing relationship between the vendors and the stock agency.

“I would like to thank the Hart family for favouring us in offering this beautiful 18 and a half acres here today, ladies and gentlemen. Alan Hart was a local legend, particularly to Alex Scott and Staff, but in the district, a very, very well-known livestock man and agent who had a long history with Alex Scott and Staff as manager, and later remained as an agent right up until the time of his death (in June 2022).

“And it's indeed a very special day for the Hart family and a very special day for Alex Scott and Staff here today,” he said, offering the property on behalf of a deceased estate.

Mr Price went on to say the property, in view of the historic Kilcunda trestle bridge and the magnificent coast, was being offered for the first time in 60 years.

“All the focus is on Bass Coast, why the traffic is streaming in here today, because we have some of the best beaches in Victoria, only one traffic light away from the eastern suburbs of Melbourne.

“The fact is that Melbourne is getting closer to Bass Coast every day. It’s why we have a magnificent new hospital in Wonthaggi, and why so many people are moving here,” he said.

Mr Price underscored why it was important, in the event the property was passed in, to at least be the final bidder on the day, but he needn’t have been concerned, despite opening the auction with a “vendor’s bid” or $1.7 million.

There followed a bid of $1.725m and the auction was off and running.

There were some bids backwards and forwards between Mr Price and one keen purchaser but after conferring with the representatives of the Hart estate, he declared the property was on the market at $1.875m.

Quick as a flash the bidder came back with the knockout blow of $1.9 million, and it was ultimately sold at that price.

As well as the 18 acres, the property at 85 Ridgway Road, Kilcunda features a well maintained 2-bedroom brick home with coastal views and an established garden, there’s farm shedding and stock handling facilities and the opportunity to take over a waterways lease.

Approximately 30 people attended the auction, many of them local landowners keen to hear the latest assessment of farm and coastal lifestyle property values. They must have liked what they saw.