Two homes located on the same block at East Corrimal and within a few hundred metres of the beach could fetch in the vicinity of $1.5 million at auction.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
The listing at 5 Payne Road will go under the hammer on April 7.
One of the selling agents, Colliers International Wollongong’s senior executive of residential Neil Webster said the “two beachside homes on the same block” could be suited to extended families or investors.
Previously separate strata, but recently converted to Torrens Title, the possibility to re-strata exists (subject to council approval).
Mr Webster said they’d had strong interest from investors and large families looking to house in-laws/parents/extended family members.
He said feedback had priced the property between $1.3 million and $1.4 million, but it could fetch a higher amount.
“Both of these three-bedroom homes are located within a few hundred metres of East Corrimal beach,” he said.
“A private modern villa set at the rear of the block is the jewel with a partially renovated cottage also providing opportunity to capitalise further.
“This property presents the perfect opportunity to house the in-laws or live in one and rent the other.”
According to The Domain Group, the median price for a three-bedroom house in East Corrimal is $814,000, with 22 sold this year and spending an average of 49 days on the market.
Domain figures indicate that the average age of residents is 20 to 39.
The cottage at the front was built by the current owner’s father.
“They bought the property from the vendor’s mother when she was ill and built the villa at the rear to look after her,” Mr Webster said.
“When the mother passed away a few years ago the vendor’s son moved into cottage and recently began to renovate.”
The property is currently owned by Ray and Trish Robinson, who have lived in the property’s back house since November 1995.
The family has historical ties to the area; nearby Ray Robinson Oval is named after Mr Robinson’s uncle of the same name.
“My uncle was strapper for Fernhill Soccer Club and also did it for the Wolves,” Mr Robinson said.
“We come from a good line of soccer players. Judy Masters, who has an oval named after him in Balgownie, is associated with part of the family.”
Mr Robinson said they were relocating to Queensland’s Sunshine Coast.
“My parents built the front house, and also built the two next door as well at No.7 and No.9,” he said.