It’s quite amazing a parcel of land sells for $30million in 2017 with nothing but a timber boat shed on it. However, the true worth of this property lies within the very special land parcel. At a staggering 1,974 sum it has the potential to be subdivided and the value of 2 x waterfront homes could well exceed $60 million after completion.
Furthermore, there are literally no waterfronts that exist with a 4 boat berths in Sydney. The floating marina is one of the most unique things about the property. It’s not just the amount of boats you can berth, but the size. The berths can accommodate up to 80 feet boats.
Even with the flat Sydney market in 2019, a $30 million purchase of this lot in 2018 has the potential to be sold for a considerable amount more depending on the owners ability to unlock the land’s full potential.
Well known Sydney family, the O’Neils, purchased it for £9,000 in 1958; they held the property until its sale in 2017.