Best custom build award winner scoops an auction win
An award-winning Gippsland house that's full of treasured family memories changed hands for $1.21m on the weekend.
Owners Zoe McCarthy and her husband Paddy bought 51 Cashin St, Inverloch, about eight years ago.
At the time, the block was home to an older beach house.
RELATED: Gippsland: Former Saint Austinn 'Aussie' Jones and wife Kate list Bunyip house
'Triple vacuum sealed' Passivhaus breaks Inverloch house price record with $3.25m sale
South Gippsland: Versace Castle, aka Villa Versace, hits the market – armoury and all
Rather than demolish the residence, they gifted it to some people who moved it to a new location in Bass.
The McCarthys then engaged Inverloch-based Baybuilt Homes and its director Bill Blundy to build them a four-bedroom house.
Shaped like the letter C, the residence features a kitchen fitted with an engineered stone island bench, two living areas, a study nook, outdoor shower, undercover dining area and wraparound deck.
'We love our living area where you have one big open room with a pitched ceiling and skylights that allow a huge amount of natural light in, Ms McCarthy said.
'That's like the heart of the home because you've got the kitchen, dining and living space.'
Along with their three children, they have hosted plenty of barbecues and Christmases.
'We just open the doors up and have everyone sitting outside on the deck,' Ms McCarthy said.
Stepping inside the front door, a 'false entry' leads to the deck.
It was inspired by a similar feature in Balinese-style pads, designed so that homeowners can avoid trekking sand and wet clothes through a house after visiting the beach.
The abode even won a Master Builders' Best Custom Build award in 2024.
'We were pretty chuffed, I think there were 50-plus homes in the category,' Ms McCarthy said.
While she and her husband were sad to sell the house, they are moving to be closer to family.
Ray White Inverloch principal Fiona McMahon-Hughes said three bidders competed for the keys at Saturday's auction conducted by auctioneer Megan Harris.
The home was announced on the market after bidding hit the $1m mark, with the final sales price delivering a sum $210,000 higher.
Ms McMahon-Hughes said that the successful buyers, a family, were 'absolutely ecstatic'.
'The sellers were excited to hand over the keys to a lovely new family,' Ms McMahon-Hughes said.
Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox.
MORE: Collingwood: 'The Lamington' pad's red hot auction result
Dan Andrews' 'ghost' home legacy revealed as apartment towers stall
$100m James Packer backed project's wellbeing, longevity boost
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
West Australian
3 hours ago
- West Australian
Singapore-based Bastion Mining wins Xanadu copper-gold treasure
Singapore mining entity Bastion Mining has declared victory in its battle for control of ASX-listed Xanadu Mines, announcing its off-market takeover bid is now unconditional after it secured a 55.65 per cent stake in the Mongolian-focused copper and gold explorer. Bastion committed to declaring the bid unconditional when it hit the 50.1 per cent shareholding threshold to secure majority control. The company quickly accumulated the required shares after tabling its bid for Xanadu in mid-May, with an 8 cents per share offer. After revealing last week that Chinese mining giant Zijin Mining - a 15.7 per cent shareholder in Xanadu – had accepted Bastion's offer for its Xanadu holdings, it was a lay down misère that the takeover would succeed. Zijin, happy to seize the cash on offer, is also Xanadu's 50:50 joint venture partner in the company's flagship Kharmagtai copper-gold project in Mongolia – a stake it plans to retain. Bastion is controlled by 75 per cent owner, Singapore-based investment outfit Boroo Pte Ltd and 25 per cent stakeholder Ganbayar Lkhagvasuren, a current Xanadu director. Bastion pounced on Xanadu after a planned control deal with Zijin Mining petered out on an exclusivity period the two companies had been using to hammer out terms. Following Zijin's acceptance, Xanadu's independent takeover board committee quickly reaffirmed its recommendation that shareholders accept the Bastion offer without delay, if no superior bid emerged. The flagship Kharmagtai copper-gold project in Mongolia's South Gobi region no doubt caught Bastion's eyes. The eyebrow-raising resource clocks in at a sensational 730 million tonnes of ore containing 1.6Mt of copper and 4 million ounces of gold. A recent feasibility study slapped a lofty US$ 930 million (A$1.43 billion) net present value on Kharmagtai, based on a capital investment of US$890 million (A$1.36 billion). The project is tipped to churn out a mouthwatering 80,000t of copper and 170,000 ounces of gold a year, with an impressive operating cost of just 70 cents per pound copper. The numbers get the thumbs up, with Kharmagtai expected to pay for itself in four years and continue raining cash for almost three decades. It has a projected EBITDA of US$293 million (A$450 million) a year, a nice earn for any companies lucky enough to possess an in-demand project. With the ownership issue now resolved, it's time to 'let the games begin' to develop Kharmagtai's copper and gold riches. Is your ASX-listed company doing something interesting? Contact:
Canberra Times
4 hours ago
- Canberra Times
What you can buy in Europe versus Australia's capital cities
What can you get for a million dollars? According to recent data from the Australian Bureau of Statistics, an average Australian home. "The national mean price of residential dwellings passed $1 million for the first time in the March quarter 2025, rising 0.7 per cent to $1,002,500," said ABS head of finance statistics, Dr Misha Tan. Australia is the 10th most expensive country to buy a home. Pic: Supplied. Compared to the rest of the world, statistics like this make Australia the 10th most expensive country to buy a home. With many Australians currently planning or dreaming about a summer escape in Europe, we compared what you could buy in some of the most popular destinations versus Australia's capital cities This home in Taren Point, New South Wales for $4.4 million Located in Taren Point is this three-bedroom waterfront property. It features private beach access, boat house with kitchenette, carport and outdoor entertaining area. Or, this chateau in the Loire Valley, France for $3.9 million Own your very own castle in the Loire Valley. Pic: Supplied. For just a little less, you could own your very own castle in the Loire Valley. Surrounded by 25 hectares of land, the chateau includes 15 bedrooms, 12 bathrooms, swimming pool and horse stables. This home in Narre Warren, Victoria for $1.045 million Over in Narre Warren is a four-bedroom home located on a 917sqm block. The property includes three living zones, a main suite with ensuite and spa bath, and a remote-controlled garage. Or, this villa in Siena, Italy for $954,000 This 1930s villa in Siena is currently owned by painter and sculptor Anna Izzo. Pic: Supplied. If you're after more history, you could opt for this 1930s villa in Siena. The four-bedroom home is currently owned by painter and sculptor Anna Izzo and features a private garden, three bathrooms and the ability to split the property into two apartments. This home in Wellington Point, Queensland for $1.1 million This brick house in Wellington Point is located on a 740m2 block on a quiet, peaceful street. It features four bedrooms, one bathroom, a separate shed, lock-up garage and veggie garden. Or, this home in Crete, Greece for $1.01 million The hillside home has views of the sea. Pic: Supplied. Otherwise, you could purchase this renovated property in Crete. Built the late Minoan III period, the hillside home has three bedrooms, three bathrooms, a lift for access to the three levels and a terrace with hot tub overlooking the sea. This home in Fairview Park, Adelaide for $875,000 Renovated and conveniently located, this Fairview Park home boasts four bedrooms, two bathrooms, double carport and undercover entertaining area. Or, this villa in Malaga, Spain for $867,000 This unique Gaudi-style property has sweeping sea views. Pic: Supplied. For a bit less, you could have this unique Gaudi-style property with sea views in Malaga. The architectural villa includes three bedrooms, two bathrooms, modern kitchen, terrace with poolside pergola and fruit trees. This unit in Kalamunda, Western Australia for $1.15 million Only two years old, this three-bedder in Kalamunda is located on a 483 square metre block close to the local town. It features a media room, alfresco area, double garage and rear access. Or, this villa in Florence, Italy for $1.042 million The sun-drenched terrace offers views of the rolling hills. Pic: Supplied. If you're after a bit more space, check out this 1700s stone villa in Florence. Located on four acres, the property includes four bedrooms, three bathrooms, large kitchen and sun-drenched terrace with views of the rolling hills. This home in Swan Bay, Tasmania for $2 million Located on the beautiful Tamar River, this architecturally designed home offers a chance to take in Tasmania's natural beauty. The home offers five bedrooms, three bathrooms, gourmet kitchen and lap pool. Or, this home in The Cotswolds, England for $2.07 million This period home in the picturesque Cotswolds offers an abundance of natural beauty. Pic: Supplied. If you're after a different kind of natural beauty, this period home in the picturesque Cotswolds is just a little bit more expensive. The stone estate features five bedrooms, formal dining room, extensive gardens and paddock with
West Australian
4 hours ago
- West Australian
Pilot, Triangle lock in Cliff Head transfer for carbon capture play
Pilot Energy has locked in the purchase of the West Australian-based Cliff Head oil facility from former joint venture partner Triangle Energy and will repurpose the asset as a carbon capture and storage facility within its Mid West Clean Energy project. Triangle's remaining 78.75 per cent interest in the Cliff Head oil field within the Perth Basin, held under the current JV, has been transferred to Pilot in exchange for a secured $5.563 million promissory note. The previously announced revised terms of the sale allowed for Pilot's existing debt to Triangle to be converted via the secured note. It matures on September 30, 2026. Interest will accrue from June 30 at 10 per cent and will be capitalised to maturity. Ownership of all onshore and offshore assets falling within WA state jurisdiction has been transferred to Pilot. The assets include onshore processing facilities, the Arrowsmith production plant, Arrowsmith freehold land, infrastructure licences and offshore pipelines within state waters. The pipelines extend 16 kilometres to an offshore platform, with the first 12km estimated to fall within WA waters. The remaining 4km of pipelines are in Commonwealth jurisdiction. Pilot will ask to transfer the project via the National Offshore Petroleum Titles Administrator. The company plans to soon lodge the relevant paperwork with the administrator. Triangle stands to receive a considerable boost to its cash position from the sale. In addition to the secured note funds due next year, the company will receive a one-off $167,000 payment on August 31 this year in recognition of the deferred interest accrual under the secured note. It will receive a further $4.5 million when Pilot receives a greenhouse gas injection licence and up to a further $7.5 million in royalties from the project. Pilot is also looking to sell its Three Springs solar project, also in WA's Mid West region. If that occurs, Pilot has agreed to pay Triangle 30 per cent of the sale proceeds towards its secured debt. Triangle will continue to hold full security over Pilot and its subsidiary company Royal Energy until the debt is repaid in full. Pilot Energy is now champing at the bit to bring in an elite group of investors interested in agreeing on a joint venture to develop and operate the Mid West Clean Energy project. Pilot has a state-owned enterprise (SOE), experienced with carbon storage and capture, locked and loaded to help develop the project. A consortium of South Korean mega-energy firms led by Korea Southern Power Co is also looking to link up with Pilot and acquire a 60 per cent interest to jointly develop the Mid West project to secure a supply of ammonia. The ammonia will be used for hydrogen cofiring in coal-fired power plants in Korea. The Korean Southern Power Co is one of six State-owned power companies and the nation's largest electric utility group. It plans to burn a mix of 20 per cent ammonia and 80 per cent coal at the company's large Samcheok 2044-megawatt thermal power plant in the eastern Korean province of Gangwon-Do, about 120 kilometres from the capital city of Seoul. The consortium comprises Korea Southern Power Co, Korea East-West Power, Samsung C&T and hydrogen producer Approtium. The company plans to repurpose the depleted Cliff Head oil well into a facility capable of storing liquified carbon emissions from WA's industrial emitters. Pilot will create a carbon storage business, charging third-party emitters, to add to its clean energy ammonia project arsenal. Pilot also plans to supply blue and eventually green hydrogen into WA's energy grid, positioning itself as a major supplier as the State looks to cut emissions and help develop sources of cleaner electricity. As Cliff Head swaps hands, both Pilot and Triangle appear to have emerged as winners. Is your ASX-listed company doing something interesting? Contact:
