Denis Napthine accepts early offer for Melbourne bolthole

The Kensington Banks townhouse traded off-the-plan for $221,900 in 1997.

Former state premier Denis Napthine and his wife, Peggy, have sold their Melbourne bolthole before auction.

The three level terrace in inner north west Kensington Banks collected $1.285 million – a touch over the upper guide ($1.275m).

The pair paid $390,000 in 2002; on 168 square metres at 14 Gardner Lane, abutting the former Stock Route of the Newmarket Saleyards, it contains four bedrooms and a self contained studio over a double garage.

An auction was scheduled Saturday (story continues below).

A self contained studio above the double garage.

Nelson Alexander’s Ryan Currie was the agent.

The deal comes just over two years since Mr Napthine, a vet and the former member for South West Coast, and Ms Napthine, sold their long-time Port Fairy family home for c$2.5m and relocated to Geelong.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.