A unique semi rural Shoalhaven subdivision that has only been on the market a matter of days has already attracted interest from around the world and could fetch a price as high as $30 million.
Integrity Real Estate in Nowra has offered for sale the two substantial parcels of land totaling 95.61 hectares in Worrigee, that has already been approved for 134 low density semi rural lots.
Integrity director Peter Russell said the lots include the former site of the Vineyards Golf Links, east of Nowra, and an adjacent rural property that has been home to a private trotting facility.
The two properties are at 369 Worrigee Road and 23a Aldous Place.
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"It is a rare opportunity," Mr Russell said.
"It's an amazing opportunity for the Shoalhaven, especially as there is a shortage of available land in the area."
He said the response since the properties had been listed late Monday afternoon had been "absolutely phenomenal."
"We have had interest from around the world," he said.
"With email addresses coming from South East Asia, the Uk and United States, all looking at investment opportunities in Australia, who still see us as a safe haven for real estate."
Mr Russell said prices already quoted for the property are in the high $20 million plus range and could go as high as $30 million.
The development application has been approved for 134 low density semi rural lots, which range in size from 2500 square metres to 4869 sqm [from just over half an acre to more than an acre in size].
Mr Russell said the final sale cost would be dependent on the costs associated with undertaking the development, with the prices of individual blocks also dependent on that.
But it is understood blocks could range in price anywhere from $700,000 to $800,000.
"Over the past 12 months we have seen a 20 to 30 per cent increase in growth in prices locally," he said.
"It is not usual to have a correctly zoned development land go on the market.
"This development is ready to go - ready to start engaging with a construction certificate and start building the network of services and roads to be able to sell to a very keen, small acreage/large block residential rural market.
"These properties will be fully serviced, linked to sewer, water, power and NBN."
Mr Russell said the area has "been crying out" for land releases.
"It is finally a nice position for buyers who have been crying out for land that is big enough to be able to 'swing a cat on' to be available," he said.
"This subdivision offers all the services of urban living but with the room not to hear the neighbours' toilet flush, which people often refer to in smaller lot subdivisions."
He said the subdivision offers what all buyers strive to achieve - "a sense of freedom, space and privacy that is not offered in a small lot urban residential environment".
The two sites are owned by the local Coney family [the northern lot] and a consortium of Australian, Sydney-based, business people have owned the former Vineyards site [to the south] since 2005.
The northern site is approximately 21.09 hectares and has approval for 23 lots, ranging in size from 2502 sqm to 3446 sqm.
The southern site, home of the former golf course, is 74.52 hectares and is approved for 111 lots, ranging in size ranging from 2500 sqm to 4869 sqm.
The topography of both sites is relatively flat, which allows for ease of future development within a natural setting.
These properties will be made available for sale via an expressions of interest campaign ending Monday, December 20 by 5pm.
For further information contact Peter Russell at Integrity Real Estate on 0402 215 555.