Rosebud business owner buys staff housing in deal that added $120k to home price in six months – Beragampengetahuan

920 Point Nepean Rd, Rosebud, has sold twice inside six months.

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A Rosebud kebab shop owner who watched the $1.55m March sale of his beachfront home fall through has picked up an extra $120,000 in a second attempt less than six months later.

And in a bizarre twist a local business operator who only saw the property for the first time after the auction had begun drove the $1.67m sale so they could bulldoze the property and build homes for their staff.

The initial sale for 920 Point Nepean Rd was inked on March 6, but when the buyer failed to settle on the three-bedroom house it was put back on the market.

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Barry Plant’s Terry Burgoyne took on the listing for the home the second time around and said despite four interested parties in the lead up to the auction, the result had been a complete surprise.

“When we got to the auction there were four people, myself and the auction team, seven in total,” Mr Burgoyne said.

“Two were there as neighbours. But the other two had never seen the property and got into a bit of a bidding frenzy.”

The home’s open-plan living spaces receive plenty of natural light.

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It’s likely the sizeable block will be developed into multiple new homes.

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The eventual buyer made a $1.2m first offer, which was then immediately upped to $1.5m by the underbidder. The figure reached $1.66m before Mr Burgoyne got a chance to speak with the vendor who “just said: sell it, sell it”.

The operator of a nearby eatery, they said with the property in such a good spot he wasn’t surprised the price rose in such a short period.

“I believe it’s one of the best spots on the Peninsula,” they said.

The 780sq m property fronts Point Nepean Rd, and while it doesn’t have direct water views it does have a 27m-long private laneway that ends at the foreshore a few metres from the beach.

“But the buyer, I don’t even know that they new about the laneway, they turned up late — after I’d started the auction description,” Mr Burgoyne added.

“He bought the property primarily because his business is local and he has enormous trouble finding accommodation for his staff. So he wants a very short settlement to build three townhouses for his staff to go into.”

The property has direct access to the sand via a private laneway.

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Bold colours in some of the home’s living spaces hint at the coastal lifestyle on offer.

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The underbidder, a solicitor from Melbourne had been driving past and decided to have a look after they saw the auction flag out the front.

Mr Burgoyne said for unique homes on the Mornington Peninsula, as many as 5 per cent of auction bidders could be those seeing it for the first time that day.

On that basis, the agent decided to push ahead with the auction despite the four main parties interested in the lead up raising concerns about the home being back on the market so recently after seemingly selling — though all had accepted the explanation.

“The Peninsula market is going really well,” he said.

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