269 Plantation Rd, Corio, has just sold for $1.1m.
A family from Corio has paid a big price to upsize to a rare 2000sq m property in the northern suburb.
The buyers splashed $1.1m on its “dream” three-bedroom home with garaging for seven cars at 269 Plantation Rd, Corio.
The sale is one of the most expensive residential deals recorded in the area, where big blocks with development potential often attract a premium.
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Barry Plant, Geelong agent Chari Emirzade said the property attracted multiple offers but ultimately the local buyer’s plan to put down long term roots appealed to the vendor.
“We did have a few investors interested but it ended up being purchased by a lovely family that already lives in Corio,” Mr Emirzade said.
“They just wanted to buy their dream home and this was the right property for them. The size of the block, the size of the house and everything else.
The 2000sq m block came with substantial garaging.
The big back yard is a blank canvas.
“There are not many left, especially in Plantation Rd. You go around Matthews Rd and over into Lovely Banks and you do get big homes over that side with a decent block size but it’s a bit pricey.
“On this side of Corio I think opportunities like this don’t come that frequently so they jumped at it.”
He said the family had been on a six-month search for a larger property in the area and didn’t want to leave Corio, where the children were already attending school.
Approved plans and permits for a three-lot subdivision on the site drew competition from developers during the three-week campaign.
“With developers the whole idea is to see if they can get a longer settlement but obviously, because it was a family home as well, the seller wanted the house to go to a family,” he said.
The tiled kitchen and dining area links to a covered veranda.
Exposed brickwork features in the lounge room.
The brick house offers comfortable accommodation, with an updated kitchen in the open-plan living area and an ensuite and walk-in wardrobe servicing the main bedroom.
Outside, a substantial rear shed, suitable for large caravans or boats, complements a two-car garage out the front.
Another three-bedroom home on a 1372sq m block at 167 Bacchus Marsh Rd set the residential price record for Corio when it sold for $1.25m in March 2022.
The property is now back on the market for $1.3m to $1.4m for a buyer wishing to take advantage of approved plans and permits for eight double-storey dwellings.
167 Bacchus Marsh Rd, Corio, has approved plans and permits for an eight-dwelling development.
PropTrack data shows Corio’s median house price has dropped 6.3 per cent to $480,000 over the past 12 months.
But Mr Emirzade said the latest sale showed good properties could still attract top dollar.
Tags: Local family lands dream home milliondollar Corio sale
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