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.

The Crooked River runs past Paringa, which will be auctioned this month.

The Crooked River runs past Paringa, which will be auctioned this month.

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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The 21-hectare block of land has a spectacular view of the coastline.

The 21-hectare block of land has a spectacular view of the coastline.

The 21-hectare block of land has a spectacular view of the coastline.

The 21-hectare block of land has a spectacular view of the coastline.