‘Tightly-held’ Otford tree-change home sells for $3.15 million, setting new suburb record

Just days after a suburb price record was set elsewhere in the region, a new benchmark has been established in the northern Illawarra suburb of Otford.

The tree-change style property had been in the same family for several decades.

The property, located at 40 Lady Wakehurst Drive, Otford sold earlier this week for $3.15 million.

The previous sale price record for the suburb was $2.9 million, set in 2015.

Records show there were only a handful of sales in Otford, population 396, last year.

“It’s very tightly-held there,” selling agent, Adam Blackmore from Molenaar and McNeice said of the suburb.

Held by one family for more than 54 years, the property is set on 8.5 acres in a bush setting, moments from the ocean.

It features approximately 2740 square metres of land suitable for residential purposes, and an oversized shed ideal for agricultural tools and equipment. There is currently a five-bedroom home on the property.

Also on offer is rainforest scenery and nature hikes throughout the property; an escarpment backdrop and forest to explore with established private walking tracks.

Mr Blackmore said the property was hotly contested, including local buyers, Sydney-siders and interstate buyers.

However, Mr Blackmore said the home ultimately sold to a buyer from the Central Coast area, who planned to “keep the property as a family type of homestead”.

“They fell in love with the surroundings, the bushwalking, and the tranquility of the spot,” he said.

“They also loved the character of the home, and are very excited about moving down.

“It just had a real magical feel to it. When people came and spent the time (to inspect it), we went on bushwalks with them, exploring the area. It’s quite a magical location.”

Mr Blackmore said the property was “very sentimental to the family who owns it”.

“But it was time for it to move on to a new family,” he said. “They’re really happy that they found the right buyers for it.”

The co-selling agent was Matthew Stipcevic.

This follows the news that an uber-luxury Shell Cove home with its own rooftop bar and spa has changed hands, and set a new residential price record for that suburb.

Selling agent, Amanda Bonnici from Ray White Shellharbour City said she couldn’t reveal the sale price when contacted by the Mercury.

However, industry sources have indicated it was more than $6 million.

This article originally appeared on view.com.au.