Port Melbourne ‘gem’ sells for first time in nearly 20 years

138 Nott Street, Port Melbourne, was sold for more than $1.2 million on Thursday.

An inner-city Victorian “gem” owned by the same family for nearly 20 years stunned its sellers this week, selling more than $100,000 above its asking price.

The house with two bedrooms on 138 Nott Street, in Port Melbourne, which sold at an online auction Thursday for an undisclosed price of more than $1.2 million.

Biggin & Scott Port Melbourne agent Fraser Lack said the special property was originally on the market for $1.05 million-$1.1 million, but quickly rose above the quoted range to sell in 15 minutes.

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An original fireplace is a feature in this bedroom.

The special lounge area.

The house has one bathroom.

He said five bidders raised their hands for the unique home, which is one of seven in a row to be called “Queens Terrace.”

But the keys were eventually handed over to a buyer looking to upgrade from an apartment to a house.

“It’s really hard to find a patio in this area that’s quite large but still affordable,” Mr. Lack said.

“We had everyone interested from investors to first-time homebuyers and I think it was a combination of the size – this one had great width, spacious rooms and high ceilings – and the price. (It had) everything you expect from a house from this time.”

The bright kitchen and dining area.

Another spacious bedroom.

A quaint courtyard at the rear.

The sellers, he said, had owned the property since 2003, but had rented it out for the past several years.

They recently updated the carpet and painted the property before deciding to take advantage of the hot market and sell after a lease break.

“It was a fantastic result and our salespeople were ecstatic,” said Mr. Lack.

The property features a separate kitchen, dining and living areas, courtyard and is within walking distance of Bay St and the beach.

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