The Illawarra property market has started 2020 with a bang as one of the closest residential landholdings to Wollongong Harbour returns to market.
Occupying a sought after 493sqm corner block, 2A Campbell St is for sale this time around as a boarded up house after being purchase by the vendors for $1.4 million in 2016.
The property is described as a rare opportunity to build a dream house right near the harbour.
It is effectively being sold for land value and Belle Property — Illawarra’s Darren Kay said the home is the last house remaining before the harbour in this part of Wollongong.
“You will never get another opportunity like this again,” he said.
“There is nothing closer to the harbour that you could possibly purchase and have a freestanding home.”
The boarded blank canvas house has high ornate ceilings, large living spaces, three bedrooms and has R1 residential zoning. Mr Kay said the corner block will most likely remain a freestanding home come auction on February 14.
“It might be possible to build a duplex, but the frontage would not allow for a buyer to do a huge development,” he said.
After four days on the market the house has received great interest from a mix of locals and Sydneysiders looking to use it as a weekender.
“Locals are seeing this as a chance to build their dream home and live permanently while some see the site as potential for a project,” he said.
Mr Kay who is currently awaiting a formal price guide said he was hoping to see the property sell on the “high side of the $1 millions”.
“This one is very hard to price, but surrounding properties in the area all high quality luxury homes that sell have sold for in excess of $3 million,” he said.
The property is on the market after its Sydney-based owners have had originally planned to build on Campbell St.