A vacant parcel of land with "spectacular" Lady Bay views has been described as a "once-in- a-generation opportunity" and is expected to sell for about a million dollars this week.
The 678 square metre lot at 84 Hickford Parade, has a price guide of $950,000 to $1,050,000 and is for sale via expressions of interest which close on Friday.
The property, which previously had a four-bedroom home on it, was auctioned in April last year for $1,020,000. The site has since been cleared and it is now back on the market as a vacant block.
Harris & Wood real estate partner Danny Harris, who also auctioned the property last year, said again it had attracted widespread local and metro interest.
"We've had strong interest," Mr Harris said this week. "It's not surprising. It's one of the best vacant parcels of land in Warrnambool. It's a forever home site."
Mr Harris said it was a rare opportunity for buyers and the home was one of only a handful on the street with similar views.
"There's probably only three houses with comparable views, because of the placement of the properties and how the dunes are cut at the front," he said.
"There's only three on Hickford Parade that get this level of views that are spectacular."
He said in his 23 years in the industry he could only think of one home in the street with similar views that had sold during his time. "They're extremely tightly held," Mr Harris said. "Extremely finite is the best way to describe it."
He said as well as the sea views and its proximity to the promenade, beach and city, the land was opposite a reserve and in a quiet location only accessed by local traffic, which was also appealing.
"It's one of those properties that you quote as a once-in-a-generation opportunity and it just so happens that people have got a once-in-a generation opportunity twice in just over a year."
The same property previously had a four-bedroom home on it and sold at auction in April last year for $1,020,000.
The original asking price prior to auction about $730,000 to $800,000, with the sale price exceeding expectations when Mr Harris auctioned it last year.
"They've since taken the house offsite and it's ready to construct a new dwelling on," he said.
Mr Harris said Warrnambool architect Michael Morse had designed a three-level home for the site for the current owner, which could help paint a picture of what was possible for the new owners.
The home is for sale through Harris & Wood via expressions of interest which close on Friday.
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