Kiama Downs beachfront with hotel-worthy pool fails to sell at auction

A series of high-profile listings in the Illawarra and South Coast failed to sell under the hammer in recent days.

This includes an absolute beachfront Kiama Downs home with high-end finishes and an eye-catching pool.

The property, located at 42 Johnson Street, Kiama Downs is owned by Glenn Jones and was built by his own high-end building company, Glenn Jones Homes.

A key feature is the resort-style pool which wraps around the side, cuts through the middle, and is visible beneath you at certain sections of the indoors.

Selling agent, Mark Spinelli from Innovate Property Group said there were registered bidders, who had also indicated they wanted to negotiate privately, but the home passed in on the day.

He said there were interested buyers around for high-end homes, but they often weren’t straightforward sales.

“We have several interested parties suggesting they’re interested in the $8 million to $10 million range,” Mr Spinelli said of the property.

“So this sale will be smashing all previous records and rightly so ... People who have inspected have just said, ‘wow’, and have told me what an amazing job the owner/builder has done.

“You really need to just step through the front door to appreciate what has been built.

“Sales in this price range are more complex as we have buyers needing to sell multiple properties to secure this one, and we are now helping purchasers navigate this process.”

The home has a Noosa-style influence and was designed by Paul Clout, who has created a series of prestige homes in Queensland.

Meanwhile, a South Coast home that made headlines a few years ago due to its eye-watering sale price also passed in, after attracting one bid.

The home at 15 Shipton Crescent, Mollymook previously changed hands during the COVID-influenced property boom for $10 million.

Set on 1163 square metres, the four-bedroom home is located on the southern side of Mollymook and backs onto Collers Beach.

Before Sunday’s online auction, co-selling agent Lisa Cox from Atlas Lower North Shore said the property initially had a guide of $11 million, which was later lowered to $9 million.

Auctioneer Peter Kakos described the property as a “magnificent home in one of the gems of the South Coast”.

A sole bid of $9.21 million was placed, but the home ultimately passed in.

Mrs Cox said there were plenty of buyers around in the current market, but many were sitting on the sidelines.

“We expect this to change soon, and like all our other vendors we encourage a bit of patience,” Mrs Cox said.

“We received over 200 inquiries on the property, and several buyers are interested, but most are not in a position to move immediately.

“However, the property was passed in at a price point slightly lower than what we believe we could achieve in the near future.”

Also, a multi-million-dollar Minnamurra home remains on the market after passing in at auction.

The home at 120 Charles Avenue, Minnamurra was listed with a guide of $6 million to $6.5 million.

Situated on the absolute waterfront section of Charles Avenue, the three-bedroom home sits on 1018 square metres and has been renovated.

It also contains a boatshed on the water’s edge.

The home was passed in on a vendor’s bid of $6 million.

Selling agent, Michele Lay from Ray White Kiama said there were three registered bidders, and they were currently negotiating with buyers.