17th April 2019 / Beth Oleyar: Barwon Heads Riverside House Breaks Region’s Record with $6.5m-plus Sale!

Written by Peter Farago from REA APR 17 2019

Barwon Heads has set a new bar for the region's property market prices.

A stunning modernist house from renowned architect Neil Clerehan has set a record house price for the region after it sold for more than $6.5 million.

14-16 Riverside Terrace, Barwon Heads.

Fletchers, Queenscliff agent James Gladman said the exclusive waterfront retreat at 14-16 Riverside Tce sold less than two weeks into an expressions of interest campaign after drawing interest from Melbourne, interstate and overseas buyers.

Mr Gladman was quoting $6.5 million for the home, with the undisclosed price even higher. It's smashed the previous record of $6.3 million, set in Ocean Grove last month.

The property is one of a handful with absolute river frontage.

"We started the campaign and had a terrific response to our marketing strategy from Melbourne, interstate and even overseas," Mr Gladman said.

"I've had a number of buyers who have missed out on it," he said.

"It's testament to that location and what it was — it's certainly an amazing property."

Features like the kitchen are original, demonstrating how the property has stood the test of time.

Mr Gladman said the waterfront location near the heart of the town was the property's biggest drawcard.

"We thought we'd have quite a bit of interest from developers looking to subdivide, but really most came from people looking to keep the site intact and use it as a home themselves."

The sale underscored the regard for the top end of the Bellarine Peninsula's market.

Moonah trees remain a feature on the double block.

"Across the Bellarine in the upper end we really focus on trying to give it as much exposure, not only locally and throughout Melbourne, but to a large Asian network, so we pushed it internationally through those markets," Mr Gladman said.

Much of the overseas market is made up of expats or people with an affinity for the area, he said.

14-16 Riverside Terrace, Barwon Heads.

"Even with the one at 91 Orton St that we sold for $6.3 million a couple of weeks ago, we had some good interest from overseas, but certainly with people who had an affinity with Ocean Grove in the first place.

"The same with this one, we had a couple of groups from overseas that were very keen and certainly loved Barwon Heads and loved that riverfront location."

Floor to ceiling windows turn the river into an internal feature.

He said the 1970s-era house was ahead of its time with high ceilings and full length windows to maximise river views.

"While it's still in really original condition in the kitchen and bathrooms, it's got plenty of scope for them to add their own bit of flair."

The ancient moonah trees have not been cleared on the property, allowing the large double brick, single-level house to blend into its surroundings.

Neil Clerehan, who died in 2017, has been described as a giant of the modernist architecture movement.

Visit the REA website with the article here: Barwon Heads Riverside House Breaks Region's Record