Absolute Riverfront Home South Coast NSW Australia     
"RIVERBEND" on the banks of the Clyde River at Nelligen
What price for Paradise?
  
 

 

So, how much is "Riverbend" worth? Only potential buyers will have an answer to this question. And how do they arrive at their figure? By comparison, that's how!

  Here are some past prices to illustrate just what a bargain "Riverbend" is at around $2 million:

  •   # 1 Sproxton Lane 1,565 square metres
    sold as a vacant block in March 2006 for $605,000

  • # 3 Sproxton Lane 1,682 square metres
    sold in February 2007 for 800,000

  • # 5 Sproxton Lane 1,771 square metres
    sold in February 2012 for $1,200,000

  • # 7 Sproxton Lane 1,821 square metres
    sold again in September 2013 for $1,030,000

  • # 9 Sproxton Lane 1,883 square metres
    sold in October 2010 for $970,000

  • # 11 Sproxton Lane 1,872 square metres
    sold in May 1997 for $220,000

  • # 13 & 15 Sproxton Lane (double-block)
    still held by the original owners

  • # 17 Sproxton Lane
    still held by the original owners

  • # 19 Sproxton Lane 1,770 square metres
    sold in April 2006 for $925,000

  • # 21 Sproxton Lane 1,897 square metres
    sold in December 2010 for $900,000

  • # 23 Sproxton Lane 1,770 square metres
    sold in 2013 for $960,000

  • # 25 Sproxton Lane 1,745 square metres
    sold as a vacant block in March 2006 for $750,000

  • # 27 Sproxton Lane 1,760 square metres
    sold in June 2016 for $1,700,500

  • # 29 Sproxton Lane
    still held by the original owners

  • # 31 Sproxton Lane 1,720 square metres
    sold as a vacant block in January 2012 for $750,000
    to the owner of # 33 Sproxton Lane

  • # 33 Sproxton Lane 1,695 square metres
    sold in June 2011 for $950,000

  • # 35-39 Sproxton Lane, approx. 30,000 square metres, larger than
    ALL the other waterfront properties in Sproxton Lane COMBINED,
    for sale at around $2,275,000 (but open to negotiation)

In 2011 a small wooden shack plus the adjoining vacant block, both across the lane from "Riverbend" - # 31 & 33 Sproxton Lane - ,  total land area 3,415 square metres, sold for $1.7 million

A recent sale in February 2012 year (long after the end of the boom!) of a very ordinary house on just 1,771 square metres  - # 5 Sproxton Lane - was at $1.2 million.

A more recent sale was # 27 Sproxton Lane which sold in June 2016 for $1,700,500.

Riverbend's large two-storey full-brick house and guest cottage and workshop and library and utility shed would easily command a large premium over the recently achieved sales price of $1.2 million and also $1.7 million, even without the extra seven acres of land.

Riverbend, because of its size, location and substantial improvements, has always been worth more than double the price of any other waterfront property in the lane.

Waterfront properties in the lane have increased in price four- and fivefold (# 33 increased almost eightfold!) since 1993 when Riverbend  last changed hands. Riverbend had then been marketed at $500,000. What do you get when you multiply $500,000 by four?

The most recent assessment by a realtor who took into account the latest sales in the neighbourhood came in at $2.15million; however, the owners will consider very carefully any written offer  above $2 million.

The owners are moving overseas and are willing to sell the property with all its furniture and equipment,  far too numerous to list here, which in money terms are worth many, many tens of thousands of dollars.

 


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