Three Shell Cove oceanfront lots on Oceanfront Drive, adjacent to Bass Point Tourist Road, sold at auction on Sunday for a total of $4,805,000.
The onsite auction hosted eight registered bidders and saw the highest price paid for land at Shell Cove yet.
The 480-sqm Lot 1003 sold for $1,420,000; the 570-sqm Lot 1002 sold for $1,500,000; and the larger 740-sqm Lot 1001 sold for a record $1,885,000.
The weekend’s results showed an appreciation in land values compared to the previous auction for oceanfront land lots at The Waterfront, Shell Cove in April this year when a 507-sqm lot sold for $1.3 million; a 594-sqm lot fetched $1.4 million; and a 559-sqm block sold for $1.471 million.
Shellharbour City Council Mayor, Marianne Saliba says she is “more than pleased with the results”.
“The quick sale of this land reinforces the recent statistics showing that Shellharbour City is a sought after area to live in and confirms that we offer a great lifestyle and opportunities in our City. Shell Cove provides a range of opportunities for various types and size of development and this is to be commended,” says Mayor Saliba.
Simone Dyer, Development Director – Shell Cove, Frasers Property Australia says the opportunity to buy beachfront land not only at The Waterfront but also anywhere in the Illawarra and Sydney regions is rare.
“These lots are among the most premium lots within the community and with the pace of development now underway, it’s easier for people to appreciate the lifestyle opportunity available with a brand new home in this area. Securing genuine oceanfront land is a rarity and the amenities on offer at The Waterfront, Shell Cove make these land opportunities even more desirable,” says Ms Dyer.
These latest three oceanfront land lots were part of a larger release of six lots in The Beachside Collection. The remaining three beachside lots in the release range from 496-sqm to 798-sqm, are just around the corner from the beach and will be sold via electronic ballot this Thursday, August 1.
All of the lots are less than 100 metres from the edge of the future Shellharbour Marina and boat harbour, which is under construction and expected to be completed by the time buyers move into their new homes. The lots are also less than one kilometre from The Waterfront Town Centre, stage one of which is already open to the community.
Shellharbour City Council’s The Waterfront Shell Cove, managed by Frasers Property, is a new oceanfront community in a natural coastal setting surrounded by beaches, parks and wetlands but close to schools, transport and major centres.
“Shellharbour Marina and boat harbour is expected to be completed and fully operational by the time buyers have built their dream homes and moved in, so they will be able to enjoy the harbourside lifestyle straight away. The last remaining lots in this precinct present a very rare opportunity to live right beside the ocean and within a short stroll to the marina and town centre amenity. These lots are extremely well positioned to enjoy Shell Cove’s natural assets of The Shallows Coastal Reserve and Bass Point just a short walk away,” Mayor Saliba says.