Historic Werribee home sold by mortgagee at auction

An historic Werribee home was sold at weekend mortgagee auction to a local developer.

The 56-58 Wattle Avenue property has seen multiple proposals for development on the site fall flat.

It fetched $1.6 million after just four bids.

The 6215 square metre holding comes with a three-bedroom weatherboard home with heritage overlay, along with a shed, barn and tennis court.

The Wattle Avenue property was sold by Hocking Stuart Werribee agent Eric Bartz who told the crowd the land could be developed with strict approvals by Wyndham Council.

Bartz told the Herald Sun the property was bought by a local investor who was most likely going to rent out the home before looking to restore it.

There was an opening vendor bid of $1.5 million.

The only bidder offered $1.55 million which was then bettered by the second vendor bid of $1.58 million.

The auction concluded on the next bid of $1.6 million.

The property has long been associated with a prominent local family.