UPDATE SUNDAY 3pm: A property at 7 Logans Beach Road failed sell at auction on Sunday.
The Logans Beach Spa Retreat site included a five-bedroom home on three acres and had a price guide of $2.75 million to $3 million.
About 20 people attended the auction of the mixed-use complex which also includes apartments, a spa and swimming pool.
Auctioneer John Rombotis from McGrath real estate in South Yarra opened the auction with a vendor bid of $2.75 million.
After a second vendor bid of $2.8 million the property was passed in.
EARLIER June 21: A "rare opportunity" to buy a property near Logans Beach - which has already attracted interest from overseas just days after going on the market - could fetch about $3 million at auction.
The three-acre property, which is home to the Logans Beach Spa Retreat, will go under the auction hammer next month.
Real estate agent Errol Stewart said the sale was on the freehold and not the businesses that operated out of the site - most of which initially had four-year leases.
Mr Stewart said it was only the second or third property south of the Logans Beach area that had been on the market in about 40 years.
"It's very rare at Logans Beach. It's such a rare opportunity," he said.
Mr Stewart said the property had only been listed in the past four or five days and there had been great interest including an overseas buyer, one from Melbourne and a number of locals.
He said websites advertising the site had already had hundreds, and even thousands, of views since it had been listed.
The property has been listed by McGrath Estate Agents in South Yarra and is expected to fetch between $2.75 million and $3 million.
"It's a bit hard to value that one because there are very few comparable...to that type of property in Warrnambool," Mr Stewart said.
But he said it was the kind of property that would sell whether the market was up or down.
The property includes a two-storey beach house which Mr Stewart said could be used as a primary residence or holiday accommodation.
There is also a pool, wellness centre, a gym, and studio on the site.
Viewings are by appointment, and the auction will be held on Sunday, July 10 at 1.30pm.
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