A piece of Jamberoo history sold earlier this month.
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In February 2016, a luxury home, converted from part of the historic Jamberoo Milk Factory, sold for $1.48 million.
Its sister property was recently listed on the market.
The property at 31 Factory Lane, Jamberoo was listed for sale earlier this year for $2,180,000.
It sold for $2 million to an Illawarra buyer.
In the early 2000’s at the time of milk deregulation, the industry property on Factory Lane was transformed into two residential dwellings.
According to Australian Property Monitors, 31 Factory Lane previously sold for $1.1 million in 2013.
The property had been listed for sale in mid-2016.
Agent Vivienne Marris, principal at Elders Real Estate Jamberoo said the Jamberoo Milk Factory, built in 1928, still continues to play a part in the Jamberoo Valley, “not as a commercial venture but as an extraordinary home and a strong visual reminder of a legendary past”.
“A tremendous opportunity awaits an entrepreneur with vision to utilise the large open spaces for artworks, gallery, entertainment space, a restaurant or a combination of all,” she told the Mercury earlier this year.
There is also space for potential further garaging, studio apartments and home office opportunities.
“It’s a unique property which was only ever going to have a small amount of interested parties, and it was right place, right time,” Ms Marris said of the sale.
Ms Marris said even though the previous owners have completed some smart renovations, the integrity of the original build from 1928 and the heritage structural artefacts, such as staircases, massive belt drivers and impressive electricity boards remain in place.
The floor plan on two levels incorporates three bedrooms, three bathrooms, lounge room, family room, parents’ retreat, great room and large double-storey atrium.
The renovations to the property in the past five years have included a new roof and gutters, windows, bathrooms, kitchen, laundry/pantry and garden design.
Ms Marris said the market in Jamberoo had slowed a little recently, but this was to be expected with Sydney buyers getting a little less than their expectations and the auction rate being on a downward trend.
“Auction properties are either going after being passed in, or the vendor making a decision on the day to make the best of it and accept a good offer so they too can move on.
“(This sale was) a good result for buyer and seller and a strong reflection of the buying market still being able to purchase iconic property in rural Australia, albeit 10 minutes from the beach.
“This current position is really a part of the normal real estate cycle and a ‘market correction’ that is a little late in the coming.
“If you’re coming down from Sydney… And expect to get something that’s a lot less here, that’s not how it works.
“It doesn’t do that anymore.
“We used to have a three to six-month lag, but we don’t have that any more, it’s almost instantaneous.”
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