A waterfront reserve property in a sought-after location at Gerroa will be auctioned later this month.
The three-bedroom home at 162 Stafford Street, Gerroa boasts a timber deck overlooking Seven Mile Beach.
Selling agent, Neil Campbell, principal at Ray White Gerringong said surf star Sally Fitzgibbons and singer Guy Sebastian both owned homes on the same side of Stafford Street.
He expected it would sell for about the $1.8 million mark.
“That is the premier location in Gerroa, on Stafford Street on the reserve side,” he said.
Mr Campbell said the home had been a popular holiday rental for the past decade.
“This is a sought-after part of the South Coast,” he said.
“That’s where we get the most money in Gerroa, is on that side of Stafford Street, because you’re on the reserve there.
“Gerroa is a closed shop; there’s not going to be any more subdivision out there, there’s no future growth for it or anything else.
“There’s either four or five vacant blocks of land left out there, so there’s no scope for growth and that’s really keeping the pressure on prices.”
The main living area features timber floorboards and expansive glass windows designed to capture the scenic surrounds, leading out to the covered entertaining deck.
The property will be auctioned on Wednesday, October 18.
Meanwhile, the home at 102 Stafford Street, Gerroa sold prior to auction for $2.12 million in July.
Mr Campbell told the Mercury this was the highest sale for a residential home in Gerroa.
The four-bedroom house also contains two bathrooms and one parking space, and is on a 598sqm block of land.
Mr Campbell said it was sold to expat Australians living in the Philippines who planned to eventually retire to Gerroa.
Among Mr Campbell’s other current listings is ‘Chatton’, located at 328 Foxground Road, Foxground.
‘Chatton’ comprises 28.4 acres “right in the heart of Foxground”.
It is a private compound featuring a family home plus extensive shedding, and enjoys a north-facing position and large deck.
Its other features include a creek, water tanks, games room downstairs with external access, solar power and grid, and steel stock yards.
It is scheduled for auction on October 18.
Mr Campbell estimated it would sell for $1.7 million.
“Foxground is a very tightly held area, like Gerroa I suppose,” he said.
“In that small acreage lifestyle market, which this property fits into, there’s just a real scarcity of that sort of property and has been for two years.”