SOLD: 90 Clayton Road, Lammermoor, sold for $845,000 on March 29. Picture: Contributed
SOLD: 90 Clayton Road, Lammermoor, sold for $845,000 on March 29. Picture: Contributed

Coastal property to be developed into residential lots

A 16-acre property with a development approval for 34 residential lots in Lammermoor has sold to a local developer.

The property at 90 Clayton Road sold on March 29 for $845,000.

Principal of Cooke Property Agents Stan Cooke said the property was marketed over a six-week period and gained “plenty of interest”.

Mr Cooke said the property received a minimum of 50 enquires and more than 20 inspections.

“We had interest from potential land developers, and we had interest from local owners who were looking for a rural property away from the urban area,” he said.

The property boasts a five-bedroom, three-bathroom home with panoramic ocean views. Picture: Contributed
The property boasts a five-bedroom, three-bathroom home with panoramic ocean views. Picture: Contributed

“We had three offers and the highest one it sold for was to a local developer.”

The property came with a development approval for 34, 800 sqm residential lots.

Mr Cooke said the owner intended to develop the property later this year or early 2022.

The property also boasted a five-bedroom, three-bathroom home with panoramic ocean views.

Mr Cooke said the house would eventually be renovated and resold.

MORE STORIES:

Henderson Park Farm Retreat on the market for first time

REIQ calls for government help as vacancy rates remain low

COVID lockdown impacts auction of massive acreage