A Sydney businessman has snapped up 100 acres of vacant land at Kiama for an eye-watering $7.6 million.
The property, located at 33 Greyleigh Drive, Kiama, offers ocean, coastal and rural views over Kiama and north up the Illawarra coastline.
Previously owned by a company based in country NSW for the past decade, it sold earlier this week.
Although currently vacant land, it has approval for a dwelling to be built on it.
The lush grazing pasture land is also being marketed as ideal for a number of rural and agricultural uses.
Selling agent, Steve Pryor from Raine and Horne Kiama said the successful buyer planned to build and use it as a weekender.
Mr Pryor said the demand for Kiama properties remained strong, particularly among Sydney buyers.
"Anything in the high-end - anywhere from $4 million to $10 million - we can't get enough of them here," he said.
Meanwhile, there was another high-profile sale in Kiama this week.
The home at 7 Myuna Place, Kiama sold for $3,050,000 prior to auction, after just 19 days on the market.
The selling agents were Scott Douglas and Aleesha Borg from Raine and Horne Kiama.
Ms Borg said the property had been subject to high levels of inquiry during its brief time on the market.
"Two local families fought for the property to upgrade due to the unique build and quality and outbid the Sydney buyers," she said.
The five-bedroom, four-bathroom home has 180-degree views of the township and coastline, pool and spa, soundproof cinema room, expansive living areas and an outdoor barbecue/kitchen.
The luxury home was custom built three years ago by Brook and Alissa Hollands.
Family is the reason they decided to buy a rural retreat at Jamberoo and reluctantly sell their Myuna Place home.
"We bought a farm," Mrs Hollands recently told the Mercury.
"We are after the country lifestyle with horses for the kids."
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