Barwon Heads riverside house sells for $5.5 million in whirlwind deal – realestate.com.au

A family holidaying on the Bellarine Peninsula have purchased a Barwon Heads estate with absolute river frontage as they enjoyed their traditional summer on the coast.

The buyers, who own a property in Ocean Grove, were quick to snap up the property at 49 Flinders Parade when they realized it was on the market, securing the riverfront position in a $5.5 million deal.

The property is two doors down from a consolidated property where the owners’ plans to add a third floor to a huge mansion were rejected by Geelong City Council.

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The sale makes the 639 sq m property one of the 10 most expensive sales ever in Barwon Heads and is the latest in a series of sales of more than $4.5 million in the past six weeks.

The Flinders Parade property was initially put on the market in the spring with a guide price of $5.8 million to $6.3 million.

Bellarine Property Barwon Heads agent Levi Turner said the buyers were looking to upgrade their coastal location.

“They enjoy being in that river area and just wanted to upgrade the property they had,” Mr Turner said.

Water flows along the edge of the property.

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“They were at their holiday home and saw we were selling it on Flinders Parade, so they called me on December 30, I showed them around on New Year’s Eve and they bought it on New Year’s Day.

“It’s just timing: You never know when buyers will show up and say we’re going to upgrade our house.”

Mr Turner said people who already owned property in the area were often wary when vacancies on the waterfront became available.

The Flinders Parade address is actually accessed via Talbot St.

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Records show the property was last sold in 1986 but was expanded around 2008.

“This is the history of riverside properties in Barwon Heads. Traditionally it has been sold to people who already own a property here because they are the ones who actually see the value in paying for it,” Mr Turner said.

“And a lot of times people are upgrading, whether it’s from a few blocks back or whatever.”

This riverside property is one of five houses in Flinders Parade with direct access to the sandy beach along the banks of the Barwon River.

The property has 16 meters of river frontage and water views to Barwon Heads Bridge, Bluff and Ocean Grove.

The property overlooks the sandy banks of the Barwon River.

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The back gate provides direct access to the beach and the Ozone Jetty, with shops, restaurants and parks also within walking distance.

The characterful boathouse-style home has an adaptable floor plan with accommodation for up to five bedrooms spread over two levels.

“Although it has a Flinders Parade address, you can actually get to it via Talbot St. It’s almost not really Flinders Parade as it’s right there on the river,” Mr Turner said.

“That’s the third property we’ve sold in the last six weeks for over $4.5 million. So that part of the market where buyers are actually in the $2 million to $3 million range.”

A century-old Ingleside bungalow, which overlooks the city’s exclusive golf courses from behind 13th Beach, was demolished in December, before a nearby secluded, architect-designed coastal reserve with uninterrupted views north to the horizon also found a buyer after a long campaign.