One of Victoria’s premier pieces of property has sold – sans house.
An ocean-front block of vacant land on the Mornington Peninsula with a tennis court has transacted after launching on the market with a price guide of $7.5 million to $8.2 million.
In the stratosphere of Australian real estate, the clifftop on the peninsula occupies rare air, alongside addresses in Sydney’s eastern suburbs.
The publicly-advertised price guide for 2 Caraar Creek Lane, at the time it was initially marketed, was several times the suburb’s median house price, such is its position. The sale sum is undisclosed.
A wayward serve during the game would be at risk of ending up in the water, so close is the grass court – edged in lavender – to the breaking waves below.
At 3576 square metres, it is substantial enough for a significant new home design and does not have heritage overlays to govern its next phase.
This was the first time the uncommon parcel had been on the public market, the Domain listing says.
“With a rich history and unrestricted by heritage overlays, this property presents an enticing proposition to either preserve its legacy or embark in a new architectural endeavour,” the listing says.
The listing agents Quentin McEwing, Marcus Gollings and Kelsi Culhane from McEwing Partners have been contacted.
Mornington’s median house price is $1.1 million – a lift of more than 35.8 per cent over five years, and 0.2 per cent over 12 months, Domain’s latest House Price Report shows.
The record on the Mornington Peninsula is held by a clifftop property in Portsea, which fetched $30 million, setting a benchmark for the depth of the prestige market in this region.
This home is much like a luxury resort, with manicured gardens surrounding a heated pool and tennis court with pavilion.
The handsome estate occupies a prime holding on the Golden Mile in Mount Eliza, capturing views from almost all rooms.
“Indulge in days spent playing tennis, taking a refreshing dip in the pool, or hosting unforgettable gatherings by the fire, under a sky full of stars,” the listing says.