Dilapidated 50k Minyip property ‘not for the faint hearted’
The rundown 66-68 Main St, Minyip, property is among Victoria’s cheapest listings.
A shockingly dilapidated property in regional Victoria has a $50,000-$55,000 price tag — but it’s a renovation “not for the faint hearted”.
The 66-68 Main St, Minyip, listing includes two destroyed shopfronts and a two-bedroom residence at the rear, which have been sitting vacant for more than 30 years.
The entire ceiling of the former hardware shop has fallen through, leaving the corrugated iron roof flopping in the wind.
Rooms are covered in graffiti, with smashed and boarded up windows, tattered plaster and broken wood, while significant cracks run throughout the brick building.
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The outside of the former hardware shop and residence.
About 30 years of sitting empty hasn’t done the property any favours.
No roof? No worries.
There’s also no power, no water and no sewerage currently connected to the property.
But the huge 2572sq m block is still a bargain, even for the small town 320km northwest of Melbourne.
NorthWest Real Estate Warracknabeal director John Hadley described the offering as a “beautiful big old building that has been neglected over time”.
“An older lady owned it and when she passed away and her son inherited it, and it’s just fallen into disrepair,” Mr Hadley said.
“It’s a huge renovation not for the faint hearted.”
Potentially where the kitchen once stood.
There’s no water connected to the building.
Would you pay $50,000-$55,000 for this fixer-upper?
The rundown property’s listing features a video of the agent walking through the decrepit structure.
“The floor is still solid under here, but it’s just that the ceiling has met the floor,” he explains in the video.
Stepping through into the right-hand shop, he warns prospective buyers, “it doesn’t get any better in here”.
But Mr Hadley maintains it’s not the most rundown listing he’s sold, saying “I’ve been in worse.”
The block also includes a huge shed.
But the spacious block has potential to be transformed into two brand new properties.
The brave buyer will have to fork out “at least a couple hundred thousand dollars,” to bring it back to life or demolish it and start again.
They will also have to comply with the council orders to fix the fallen down veranda as soon as possible.
“Buying it is the cheap bit,” Mr Hadley said.
“At the moment tradies are so busy that if you can get one they are just about writing their own figures. The first people I showed through it were going to buy it, but reality set in and they decided it was too much work.”
He said it was primed for a builder who wanted to take on the massive project, with potential to subdivide the block and build two residences, subject to council approval.
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