A new record real estate price has been established in Culburra Beach with a property overlooking Tilbury Cove selling for $3.855 million.
The property at 206 Penguins Head Road has been sold by Culburra First National principal Kellie Sprowles and just pipped another recent big sale at the seaside village by Ray White South Coast for a property on The Marina for $3.850 million.
Mrs Sprowles said the property is in "one of Culburra's best positions."
"It looks over Tilbury Cove and is sheltered by the cove from the winds and is also north facing which is extremely hard to get on the east coast," she said.
The three-bedroom, two-bathroom home on a 1088 square metre block, boasts magnificent oceanfront views and has been owned by a Culburra woman, who also shares her time living in the UK, for almost 20 years.
"The property initially failed to sell at auction," Mrs Sprowles said "and the vendor, who only had a small window to sell the property, withdrew it from the market.
"Her circumstances changed and we put the property back on the market and a Sydney family purchased it."
The property had been operating as a successful holiday rental known as 'Amazing Aspect'.
The open plan living space captures the view perfectly, while the kitchen faces the vista and adjoins the meals area and lounge room.
The Mosman-based family purchased the property as a holiday home.
"Of course, we are very happy with the sale," Mrs Sprowles said.
"Up until the week before the sale, when the property sold in The Marina there was no evidence prices could get to this level in Culburra.
"We saw the sale at Currarong earlier in the year for $4.150 million and felt that set the benchmark for us as well."
Mrs Sprowles put the increased interest in South Coast real estate down to people realising through COVID they don't have to remain and work in the big cities.
"It's been a combination of things I think," she said.
"A lot has to do with COVID and people have realised they are not bound to stay in the big city and can work from home. They can share their time evenly between their main residence and a second residence.
"Also with no overseas travel, people are spending their money differently.
"And there is the option to also use those secondary properties for Airbnb for additional income."
It's been a great time for Mrs Sprowles and her team who also recently established a new record for Callala Bay for the sale of a property at Marine Parade.
The property, which included three land titles on three quarters of an acre, with panoramic views of Jervis Bay including a two-bedroom cottage, sold for $3.075 million, surpassing the previous record of $2.375 million which was for a substantial home.
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