A 22-bedroom Newport property is expected to set a new price record for the suburb.
Newport’s oldest building, at 481 Melbourne Road, is currently used as Williamstown Junction Guest House and Lodge.
Nicholas Scott Real Estate listing agent Erden Karakurt said it was being sold through expressions of interest with offers above $3million considered.
He said the property, sitting on 1606 square metres and with two street frontages, was predicted to top the suburb’s property price record of $3.6million.
The property comprises an original three-bedroom bluestone house at the front. Built in 1875, it is listed in the Victorian Heritage Database as being of local historic and aesthetic significance.
The property also features a self-contained two-bedroom apartment and 17 bedrooms at the rear.
Mr Karakurt said the property could be reclaimed as a family home, could continue to operate as a business for up to 45 paying guests, or could be subdivided at the rear for townhouses with their own street frontages.
“A lot of investors are wanting this sort of property where it’s open for development, open for land banking, open for rental, open for business,” he said.
“The main people that are inquiring are interstate buyers, local developers and mostly from the eastern suburbs.
“Newport is still very undervalued for what it is, so I think a lot of the people from the other suburbs are wanting this massive opportunity to have a period home.”
The property last sold in 2000 for $650,000.
It is being sold by expression of interest.
