A PROPERTY in Warrnambool’s exclusive Motang Park area has sold for what is believed to be a record price for the estate.
While the final price tag for The Point – located at 9 Melaleuca Point – is confidential, Charles Stewart residential and lifestyle sales specialist Penny Adamson said it was well above other recent sales in that part of the city.
“The vendor’s expectations were $1.5 million and they were very happy and so were the purchasers,” Ms Adamson said.
“The previous highest (in that estate) was $1.25 million and this well exceeded that.
“We’ve sold four or five in that area and they’re all selling for $1.2 million to $1.25 million.”
Situated on a 1.5 acre block, the three-bedroom house features a swimming pool and unparalleled views of the Hopkins River.
The property’s location makes it “like an island”, which attracted a lot of interest, she said.
“It’s a landmark property – three sides of the block are waterfront,” Ms Adamson said.
Motang Park Estate comprises 31 large lots on the eastern side of the Hopkins River.
The Point was built about 25 years ago and has been bought by local buyers.