UPDATE
More than 100 people turned up to watch an auction for the final block of land in the Shearwater Landing estate at Greenhills Beach on Saturday.
The property was sold, but the buyer asked the agent not to disclose the price to the media.
EARLIER
The final block of land in the Shearwater Landing estate at Greenhills Beach is expected to fetch about $3 million at auction on Saturday, April 29.
The block is among 27 prime sites with panoramic ocean views on the edge of Don Lucas Reserve.
Savills agent Peter Coulton said lot 44 Shorebird Parade was “sold” in the Ocean Edition in May last year, but the contract did not proceed.
“We are expecting it will sell for about $3 million,” Mr Coulton said.
“We have sold other blocks in the development for up to $3.2 million.”
Last year’s sale price was not disclosed prior to the auction, but given the rapid escalation in all property values, it was likely to be significantly less than what bidders will be prepared to pay on Saturday.
Mr Coulton said interest in the 786.9 square metre block had been strong – “as you would expect”.
“It’s the only ocean view block for sale as a block of land,” he said.
Executive chairman of Breen Property and estate developer,Tom Breen, said there was no comparable development in Sydney “where there is such an opportunity to create one’s own luxurious beachside home, in unparalleled coastal surroundings, just 35-45 minutes from the CBD.”
The first release in Shearwater Landing occurred in March last year, with a second release in May.
The auction is on site at 12.30pm on Saturday.
