A rare undeveloped beachfront block in Werri Beach is back on the market for the second time in five years, with a price guide that's more than double what it sold for previously.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Located at 69 Werri Street, the level block is at the north end of Werri Beach and neighbours a property believed to have set a suburb record of $7.55 million when it sold in June.
The vacant block is for sale with a price guide of $2.7 million.
This level 572 square metre block is footsteps from the beach and lagoon. It's zoned R2 Low Density Residential.
The block has been on the market for nearly 80 days and went to auction in June, but was passed in.
The block previously sold in 2016 for $1.2 million.
Originally this listing was part of one block of land with 71 Werri Street, the home on which sold for $7,550,000 in June.
The original owners of that block built their house on the beach lagoon side, and then subdivided the block at the back.
The vacant land at No.69, which has direct beach access, was purchased by Sydney-based solicitor Richard Villari.
Selling agent, Neil Campbell of Ray White Gerringong said concept plans for a home on the block had been drawn up, but a change in circumstances for the owner led to the land being put on the market instead.
Mr Campbell said the successful buyer would be able to have great beach views if they built a two-storey home, as well as enjoy the rural aspect of Rose Valley to the west.
While some locked down, out of area buyers have been willing to snap up Kiama LGA properties sight unseen, Mr Campbell attributed the block's extended time on market to its biggest pool of prospective buyers being located in Greater Sydney.
"It's difficult getting people down here," he said.
"We've done videos of what the view would be like from the second level of a home, but it's just dealing with the circumstances of the moment - and that's the case with every property.
"We've sold properties recently just by FaceTime, not even by people coming down.
"That's just the way things have fallen at the moment. We're not in lockdown at the moment, but a lot of our clients are."
Meanwhile, after being in the same family since the 1930s, a pair of Werri Beach properties were snapped up prior to auction last month.
The properties are at 88 Renfrew Road and 90 Renfrew Road, Werri Beach.
No.88 is a 857 square metre block of vacant land, while No.90 is a three-bedroom beachside cottage.
No.88 sold for $1.6 million and No.90 for $1.9 million.
We depend on subscription revenue to support our journalism. If you are able, please subscribe here. If you are already a subscriber, thank you for your support.
Brendan Crabb
I'm a member of ACM's national property team, covering the Illawarra and South Coast. Based in Albion Park, NSW, I write about exciting, interesting or just downright quirky properties that have been listed for sale, major sales, market trends, auctions and more. One of my favourite aspects of being a journalist is I believe everyone has a story to tell. What's yours?
I'm a member of ACM's national property team, covering the Illawarra and South Coast. Based in Albion Park, NSW, I write about exciting, interesting or just downright quirky properties that have been listed for sale, major sales, market trends, auctions and more. One of my favourite aspects of being a journalist is I believe everyone has a story to tell. What's yours?
