A Lyndoch cottage proved country escapes don’t have to break the bank, selling for a bargain price at auction.
The character property, at 49 Gilbert St, sold for just $270,000 – $112,750 below the suburb’s median house price of $382,750, according to CoreLogic.
It was advertised without a price guide.
Century 21 selling agent Sue Schugmann said there was a strong demand for cottages in the area, with buyers looking to transform them into accommodation.
“We had 40 groups through over the six open inspections,” she said.
“A lot of people came through the opens, but because of the work that needed doing a lot of people were looking for something easier (to establish as accommodation).”
Although listed as a cottage, the property offered four bedrooms, four living areas, a sunroom, a dressing room, two bathrooms and a double cellar – all set on a 1320sqm block.
Ms Schugmann said the property had attracted a mix of locals and buyers from Adelaide, with three registered bidders at the auction on July 26.
“It’s definitely a standout (property) for such a cheap price,” she said.
“It’s a well-known little cottage and has great street appeal. The vendor had done a few renovations in the home, however it does still need quite a bit of work – but the old stone walls are beautiful.”
Ms Schugmann said buyers looking for a country escape could grab a bargain if they’re willing to broaden their search.
“Tanunda is very expensive and Angaston used to be very cheap, but now it’s on par with Lyndoch,” she said.
“Lyndoch is only 14km from Gawler, so you can hop on the train to Adelaide or take the bus.
“It has a lot to offer, it has restaurants and cafes, a post office, a library, a chemist, a bakery, a butchers and a supermarket, it’s a very friendly town.”