A Central Coast family who have owned a caravan park by the beach for around 50 years are set for a mega property payday.
Their Toowoon Bay Van Park on 2150sqm is expected to become the most expensive property to have changed hands in Toowoon Bay when it goes to auction later this month.
Raine & Horne — Terrigal-Avoca Beach agents Craig Fisher and Carla Brodt have set a $4.5m price guide ahead of the February 27 auction.
A sale at this price would see 2-4 Charlton Street eclipse the current $4.3m suburb record set by 119 Toowoon Bay Road by $200,000.
Mr Fisher said the rare parcel of land just two streets from the beach was an old van park that was used as an overflow area for a nearby tourist park during the past decade.
“There are also six van sites on the property that have been used by people as weekend cabins,” he said.
Since coming to market last week, there has been strong interest from investors, developers and even people who could create a substantial private property.
“The demand is incredible — I’ve been fielding three call inquires every hour since it came up for sale,” he said.
The property has R1 Median Density zoning, which permits the future owner the possibility to subdivide the land, build townhouses or even an apartment complex.
“There has even been people also look to build a gated estate,” Mr Fisher said.
Currently the site has a two-bedroom manager’s residence, bathroom complex and capacity for 22 caravans. The two-bedroom cottage has vintage interiors, an original kitchen and an enclosed sunroom.
The listing comes at time when the Central Coast is one of the hottest property markets in the state. Mr Fisher said a mass exodus from Sydney was driving demand for the property in the area.
“This is seeing the market go gangbusters and there is still plenty more growth to be had,” he said.
Realestate.com.au reports the Central Coast has a 11.3 per cent increase in its median house sale price to $702,000 in the past 12 months.
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