Newly built Kiama estate with main residence, guest cottage, and tiny home, snapped up for $5m

An eye-catching Kiama property which features three separate residences has been quickly snapped up for $5 million.

Sitting on a hedged and gated corner block, the new-build residence at 1 Elouera Place, Kiama, consists of three separate residences on 1739 square metres.

This includes the main residence, a fully self-contained guest cottage, as well as a two-bedroom, fully self-contained ‘tiny home’.

CoreLogic records show the property previously sold in May 2019 for $680,000.

“The vendors had a vision and concept which took around three-and-a-half years to achieve,” selling agent, Dean Lewisman from South Coast Prestige Properties said.

“It was going to be their main residence, however, circumstances changed and they reluctantly sold.

“Their plans are to continue along this property development journey. Being their first project they have really set the benchmark as 1 Elouera Place was an incredible property.”

The property boasts district and ocean views, while the main residence features five generously sized bedrooms and multiple living areas.

The living room features a fireplace and opens onto a terrace overlooking the in-ground swimming pool.

The one-bedroom, fully self-contained cottage features its own living area, kitchen, bedroom and bathroom.

Meanwhile, a two-bedroom ‘tiny home’ is located behind a screening fence.

This tiny home offers a cosy living area with an entertaining deck (complete with barbecue), a well-equipped kitchen and a modern bathroom/laundry. Upstairs, two double bedrooms provide sleeping accommodation for up to four guests.

The property’s outdoor spaces feature the swimming pool, with a cabana and an outdoor kitchen.

Mr Lewisman said the Jamberoo-based buyers loved the scale, design, flow and uniqueness of the property.

“Their plan is to Airbnb (the property) for the next three years, then make it their forever home,” Mr Lewisman said.

“They looked at multiple properties in the area, however, were struggling with the thought of going from 2.2 hectares to 600 square metres, the average property size in Kiama.

“They entertain a lot and there’s ample space for this plus additional accommodation, and also the beauty and tranquillity once you enter into the property really hits you.

“I believe this has something to do with the 150-year-old fig trees set beautifully amongst the stunning infrastructure.”

Mr Lewisman said a few cosmetic changes were going to take place, “which the vendor and purchaser will be working alongside each other to create”.

“The property was only on the market for just over a week,” he said. “Most interested buyers were local or Sydney-siders.”

Meanwhile, a property on a sought-after Kiama street that’s also a popular Airbnb-style holiday let is back on the market.

The home at 83 Tingira Crescent, Kiama has a price guide in the mid-$3 million range.

Selling agent, Carrie Bond, from Bond Lifestyle Properties said the street was popular due to its location.

“It’s just far enough out of town that you’re not in the middle of it, but it’s only a few minutes’ drive away,” she said.

“It has great access to both Easts Beach and Kendalls Beach, as it sits in between.

“It’s also the views I believe - the views are outstanding. It’s private and quiet, away from the main street’s hustle and bustle.”

This article originally appeared on view.com.au