Tony Young and James Wilson conduct the auction at 81-89 Larkins Lane, Moolap.

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A Moolap property with all the flaws that would turn most buyers on their heels at the front gate sparked a six-way auction contest on Saturday.

The 1.25ha property at 81-89 Larkins Lane is beneath the old SEC high tension powerlines out to Alcoa, has a Barwon Water easement through it and is pretty much smack, bang in the middle of a reservation for a future freeway.

Veteran agent Tony Young, of Wilsons real estate in Newtown, was quoting around $600,000 for the property, a price that reflected its obvious impediments.

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It sold for $880,000 as six parties, but lead mostly by two groups, fought hard to secure the property.

Larkins Lane runs near enough from the Bellarine Highway diagonally to Portarlington Rd in two separate stretches beneath the high tension powerlines that once powered Alcoa’s former aluminium smelter.

Today, it also runs pretty much beneath the last stretch of the future final link of the Geelong Ring Road, dubbed the Bellarine Link.

The Moolap property sold for $880,000 at auction.

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One of the dwellings on the block.

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Another property on the block.

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So the question needs to be asked, who would want to buy a property about to be (partially at least) consumed by a future freeway?

As it turns out, plenty.

There was a big crowd at Saturday’s auction and half a dozen people that raised a hand for the property, which holds two houses (a neat, four-bedroom, three-bathroom brick veneer house and a separate two-bedroom cottage), a massive shed, three separate garages and plenty of open space.

The buyer indicated he wanted the homes to house workers for his nearby business.

The property has a massive shed too.

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The property sits on 1.25ha.

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Some of bidders at the auction.

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Mr Young said a number of other bidders were looking to use the property for other reasons.

Before the auction, Mr Young said it was made clear the property perfect for buyers with a five to 10 year plan as the government could come at any stage to acquire the site.

Progress is slow on development of the final piece of the Geelong Ring Road, with planning and development work being undertaken to “inform” the next stage of the extension.

Current planning is focusing on the construction of a road link between Surf Coast Highway and Barwon Heads Rd.

But the map of the future planning area for the road on the Victoria’s Big Build website clearly shows the path for the road, and its proximity to Larkins Lane.

Bidding opened at $500,000, with Mr Young placing a $600,000 vendor bid to get the auction closer to the realistic value.

He confirmed to buyers the property was on the market as the reached $680,000.