This sweeping Keilor retreat sold for close to $2 million late last month in what was considered a landmark sale for the area. 85001 Picture: JOE MASTROIANNI
By NATALIE GALLENTI
KEILOR was the site of a multi-million dollar house sale late last month in a milestone auction for the area.
The historic Kirby family home fetched $1.62 million at auction in July, with the buyer also purchasing the adjoining 3564 square metre garden block at 5 Borrell St, bringing the total sum to more than $3 million.
The three bedroom property, built in the 1960s, includes a swimming pool and is on a large 3862 square metre allotment.
The home was formerly owned by Roc and Beatrice Kirby, the founders of the theme park and film distribution company, Village Roadshow.
Brad Teal agent Craig Teal, who handled the sale, said the house sold for the expected price with two bidders fighting it out.
Mr Teal said the property would remain a single residence as it falls under a special airport zoning, which prohibits sub-division.
He said this auction presented “unchartered waters” for both agents and interested buyers due to the size of the land and its proximity to the heart of Melbourne.
“It was always going to create a lot of interest,” Mr Teal said.
“Nowhere else can you purchase land of that size so close to the CBD.”
The median house price in Keilor is $575,000, with properties at the top end securing more than $1 million.
And Mr Teal believes the market in Melbourne’s West is set to make a come-back after “bottoming out” in recent years.
“All indicators suggest it’s hit the bottom and we might be at the start of an upward trend.”
