DOMAIN
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A 21-hectare parcel of rural land at Gerroa is expected to fetch a pretty penny when it goes to auction later this month.
Known as Paringa, it is an elevated property overlooking Seven Mile Beach with sweeping 270-degree views of the coastline and cleared level land running down to a long frontage to Crooked River.
The land at 75 Crooked River Road last sold for $5.03 million in May 2012, according to Australian Property Monitors (APM).
Neil Campbell, of Campbells Ray White Gerringong, said the upcoming sale was a once-in-a-lifetime opportunity to own 21 hectares of rural land in a highly desirable location.
"Not often can you find a magnificent rural acreage on the doorstep of the ocean," he said.
The property, a short walk to the beach or the river, features two lots with building entitlements.
It has development application approval for a substantial five-bedroom home.
According to APM, the median Gerroa house price was $725,000 in the 12 months to November last year.
The land will go to auction on Wednesday, February 26, at 6pm.
