Rare chance to acquire rural land at Gerroa

DOMAIN

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.

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