Ballarat Bishops Palace listed for August auction

Ballarat's Bishops Palace - the home of the first bishop of Ballarat Diocese - has been listed for 30 August auction.

The heritage-listed property, set on a 14,500 square metre holding, was last sold for around $700,000 in 1996 by the Catholic Church.

It remains in mint condition, agent Jim Bambridge says.

It was built in 1873 as the headquarters for the Ballarat Diocese and its first bishop, Dr Michael O’Connor to a design by Melbourne architect Joseph Reed of Reed and Barnes at a cost of £6,000.

Its been for sale for some time through PRDnationwide with 1444 Sturt Street having been initially listed at $6.5 million, then $5.5 million, then in early 2014 at $4.5 million plus when Property Observer was told all the buying interest had come from intending home buyers. 

Ballarat prestige sales have tended to be on Lake Wendouree where $2,825,000 was paid in late 2007 for a house with 53 square metres of living space, an indoor pool and a tennis court on a large block.

The median house price in Ballarat is $340,000, a tad under its recent $355,000 peak.