Crowd was silent as Newtown's partially completed, $2 million-plus renovation arrived

Hayeswinckle auctioneer Daniel Hayes is calling for bids at 7 Talbot St, Newtown.

A large crowd gathered for a long weekend but there was little action as a partially renovated house was put up for auction on the gates of Geelong College.

Hayeswinckle Newtown agent Daniel Hayes did all the talking at Saturday’s auction, explaining the unique opportunity available at 7 Talbot St.

“This is the best possible value for Newtown, overlooking probably one of the best schools in Australia,” Mr Hayes said.

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“The house itself, without stating the obvious, three key elements need to be completed.

“The first is that the internal bathroom needs to be completed.

7 Talbot Street, Newtown. The house is unfinished, with a bathroom to be fitted out and the front of the original house and exterior landscaping to be done.

“There are a few doors and maybe a few mirrors that complete the interior.

“It’s just the exterior – so it’s the end of the Edwardian house.

“I can just see some beautiful ornamental pears, a little landscaping and you will have an absolutely stunning home.

Mr Hayes said it was a bespoke renovation.

7 Talbot Street, Newtown. The house is unfinished, with a bathroom to be fitted out and the front of the original house and exterior landscaping to be done.

“You have these beautiful red (bricks) from Geelong. And even with colors like the roses in the red, they were all positioned beautifully.

“The house itself has 36 square meters of living space and the largest part has a huge 10 square meter garage.

“The concrete has been reinforced, so if you want to put a freight elevator in, it’s a dream garage.”

7 Talbot Street, Newtown. The house is unfinished, with a bathroom to be fitted out and the front of the original house and exterior landscaping to be done.

The house has three large bedrooms, the main one with a dressing room and a bathroom which has been completed.

But all the action will probably take place in the new part of the dwelling.

“You’ve got this state-of-the-art kitchen with all the stone worktops, you’ve got hydronic underfloor heating in the concrete,” Mr Hayes said.

7 Talbot Street, Newtown. The house is unfinished, with a bathroom to be fitted out and the facade of the original house and exterior landscaping to be done.

“You have central heating and refrigerated air conditioning throughout.”

The suggested sale price is between $2.2 million and $2.4 million for the home, but most wanted to know what it would take to finish everything.

“There has been a lot of speculation,” Mr. Hayes said.

7 Talbot Street, Newtown. The house is unfinished, with a bathroom to be fitted out and the front of the original house and exterior landscaping to be done.

“I’ve heard everything from $50,000 to $1 million to get it over with. This is getting ridiculous, but it will probably take between $100,000 and $200,000 to complete.

“And you have a brand new home in the heart of Newtown. A true safe bet, Newtown is surrounded by homes worth over $3 million and the reserve is nothing like it.